Campaigning alongside UK Finance, British Retail Consortium, Vendorcom and member firms, the CBI helped secure this critical extension, preventing disruption to e-commerce businesses.
The CBI recognised the need for extra time to roll out the new regulatory technical standards for Strong Customer Authentication (SCA) across the card payments systems in the EU. This is the final phase of implementation of the Payment Services Directive 2 (PDS2) and was due to be fully implemented by 14 September 2019.
SCA is applicable when a customer (individual or corporate) accesses their payment account online, when making an electronic payment, or carrying out any action through a remote channel which may imply a risk of payment fraud or other abuses.
The new measures under PSD2 require additional authentication (based on knowledge, possession or inherence) during the payment process for electronic payments. This is both online and face-to-face, including contactless card transactions.
Avoiding potential fallout
CBI members raised concerns about the lateness of the final regulatory technical standards in December 2018, their complexity, and how little time had been granted for the development of solut
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