It began the need for a second Payment Services Directive known as PSD2 and a new version of 3-D Secure, version 2.1 (3DSv2.1). PSD2 came into force in January 2018.
What is PSD2? The EU’s Second Payment Services Directive (2015/2366 PSD2) entered into force in January 2018, aiming to ensure consumer protection across all payment types, promoting an even more open, competitive payments landscape.
How does PSD2 impact me as a merchant? From 1st January 2020 for Europe and from 14th September 2021 for UK, Strong Customer Authentication (SCA) rules will come into effect for all digital payments in Europe.
What do I need to know on PSD2 and personal data sharing (GDPR)? 3DSv2 is inviting merchants to send additional information (mandatory / recommended ... ). All you need to know as a merchant can be found here:
What do I need to do to comply to PSD2 and SCA? First, you need to make sure that 3-DS is enabled on your online store for all your payment methods (Visa, MasterCard, American Express, Carte Bancaire, JCB). Make sure it's done.
Right now, banks, payment service providers and card networks are all working on technical solutions that will comply with the requirements for PSD2.
3D-Secure v2: Increase security; increase conversion Update: Transition periods for SCA implementation The deadline for PSD2 implementation was on the 14th of September 2019.
Fraud Prevention Fraud Expert Scoring Fraud Expert Checklist Fraud Detection Module Dispute management Perseuss creditPass PSD2 Comply with PSD2 Selective use of 3-D Secure Payment Data Security PCI DSS Server Security Firewall configuration Service Description
Right now, banks, payment service providers and card networks are all working on technical solutions that will comply with the requirements for PSD2.