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success:function(data){ return false; The new date that the requirements will begin to be enforced is December 31, 2020. The latest EBA Opinion, published on 16 October 2019, recommends that the period of supervisory flexibility for implementation of strong customer authentication (SCA) requirements under the second Payment Services Directive 2015/2366 (PSD2) should end on 31 December 2020, 15 and a half months after entry into force of the requirements on 14 September this year. setTimeout(function() { Clients in certain sectors, like the travel and hospitality sector, may continue to lobby for additional time in order to implement the SCA requirements within their more complex payment flows or booking models. The purpose of this cookie is to check whether or not the user has given their consent to the usage of cookies under the category 'Non-Necessary'. This news was welcomed by businesses across the UK who were not yet ready to meet the deadline. $( 'form.widget_wysija' ).submit(function(e){ The first of these is a 31 December 2019 deadline for PSPs to inform their national regulators of the authentication methods they are making available to customers and which comply under SCA. Analytical cookies are used to understand how visitors interact with the website. The cookies store information anonymously and assigns a randomly generated number to identify unique visitors. This problem is particularly acute in industries with complex payment flows or booking models e.g. var msg = $( '.wysija-msg' ); Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. It is used to distinguish users. }, 3000); 03984951008, EBA extends SCA deadline to 31 December 2020. Whistle blowing policies – why have them and what to put in them? These cookies will be stored in your browser only with your consent. This cookie is used to measure the number and behavior of the visitors to the website anonymously. The data includes the number of visits, average duration of the visit on the website, pages visited, etc. communication protocol should enable the application of the full range of SCA exemptions specified in the RTS and the out-of-scope of SCA transactions, such as payee initiated transactions). © 2014 TAS S.p.A. All rights reserved. Ahead of the new payment services directive (PSD2), the EBA has said it acknowledges that implementing the new standards may prove to be more difficult than expected for some merchants. SCA, part of the Payment Services Directive (PSD2), requires merchants to introduce two-factor authentication when purchasing online. This cookie is used to a profile based on user's interest and display personalized ads to the users. //alert(email); })(window.jQuery); Following the FCA’s decions, the Central Bank of Ireland quickly announced a delay in rolling out SCA. EBA extends SCA deadline to 31 December 2020. } The new EBA announcement comes after it issued an opinion in June 2019 giving merchants extra time when implementing the regulations. type:"POST", In addition, the EBA suggested NCAs should focus on monitoring migration plans instead of pursuing immediate enforcement actions against PSPs that are not compliant with SCA. }); On the 16 th of October, the European Banking Authority (EBA) formally released its so-called Opinion in favor of extending the migration deadline to the 31 st of December 2020. Strong Customer Authentication, or SCA as it is commonly referred to, is an important and far-reaching mandate aimed at stepping up security during e-commerce payment transactions, taking into account the new and evolving scenarios introduced under PDS2 and Open Banking. The European Banking Authority (EBA) has released a new opinion on strong customer authentication (SCA), revealing a possible route for extensions ahead of the September 14 deadline.. EBA recommends that NCAs inform PSPs in their jurisdiction that the supervisory flexibility does not represent a delay in the application date of the SCA requirements under PSD2 and the EBA’s Technical Standards (RTS). for the purpose of better understanding user preferences for targeted advertisments. Giving both issuers and acquirers clear milestones ahead of the new deadline provides a natural glide path that will be vital for a smooth and consistent migration across Europe. For many players in the travel and retail industries, reaching SCA compliance has been a challenge. This move will give NCAs sufficient time to implement new rules that include approving extensions for businesses on an exceptional basis, and ensuring that PSPs (both issuers and acquirers) are able to carry out the necessary activities to ensure readiness and comply with the SCA mandate. Necessary cookies are absolutely essential for the website to function properly. In addition to this deadline, the EBA Opinion recommends that the NCAs should: The new recommended deadline of 31 December 2020 is sooner than many had expected. This cookie is set by Addthis.com to enable sharing of links on social media platforms like Facebook and Twitter. This cookie is set by GDPR Cookie Consent plugin. The cookie is used to track user behavior anonymously to generate usage trends to improve relevance to their services and advertising. The cookie is set by Addthis which enables the content of the website to be shared across different networking and social sharing websites. (function($){ }); Further in the opinion paper, the EBA outlines that NCAs and PSPs are to be expected to meet a set of milestones. This cookie is set by Addthis to make sure you see the updated count if you share a page and return to it before our share count cache is updated. This June opinion accepted that NCAs may exercise supervisory flexibility in order to grant PSPs limited additional time for SCA implementation, but did not set any definitive period for implementation. jQuery.ajax({ The latest EBA Opinion, published on 16 October 2019, recommends that the period of supervisory flexibility for implementation of strong customer authentication (SCA) requirements under the second Payment Services Directive 2015/2366 (PSD2) should end on 31 December 2020, 15 and a half months after entry into force of the requirements on 14 September this year. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. var email = $( '#form-validation-field-0' ).val(); “The EBA already addressed some of this operational challenges through its statement of March 25 2020, lifting the first deadline for national competent authorities’ obligation to report by March 31, 2020, on industry’s readiness to meet the Strong Customer Authentication requirements for e­commerce card-based transactions.” This cookie is installed by Google Analytics and collects information on how users interact with the website. Especially the decision to propose a harmonised approach to SCA across the region. var regex = /^([a-zA-Z0-9_.+-])+\@(([a-zA-Z0-9-])+\. “While it’s tempting to relax a bit with an extension, we urge payment providers and merchants to avoid kicking the can down the road and on-board new SCA implementation systems early to iron out any kinks and ensure they are fully compliant in time for the revised deadline. Otherwise, they may run the risk of last-minute snags and compliance concerns. The EBA’s most recent opinion recommends national competent authorities (NCAs) to take a consistent approach towards the SCA migration period and to require PSPs to carry out the actions set out. An 18-month implementation period would have been in line with the migration plan published by the UK Financial Conduct Authority (FCA) and numerous other NCAs, and it would have enabled the roll-out and implementation of the 3DS V2.2. This may include solutions such as PIN-authentication or fingerprint ID scanning. Clients should ensure that they follow these developments in order to keep fully up-to-date with FCA expectations in this area. These cookies do not store any personal information. By December 2020 it seems that a level playing field is finally in sight. This may include solutions such as PIN-authentication or fingerprint ID scanning. )+([a-zA-Z0-9]{2,4})+$/; Although the SCA requirements for e-commerce card-based payment transactions officially came into force on 14 September 2019, few European banks or PSPs have started enforcing these requirements and declining non-authenticated payments. But opting out of some of these cookies may have an effect on your browsing experience. - P.I. The European Banking Authority (EBA) has extended the deadline for Strong Customer Authentication (SCA) to December 31 2020. We anticipate the FCA will make a statement in the coming weeks as to whether it will continue with its migration plan, or whether it will revise its implementation timeline to align with the EBA Opinion. Google Analytics cookies to track users as they navigate the website and help improve the website's usability.

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