Wirecard Announces Fast Track PSD2 Onboading Through Financial Commerce Platform

Germany-based global provider of digital payments and commerce solutions Wirecard announced it automatically offering all new customers a fast track to PSD2 onboarding through its digital Financial Commerce Platform.

“From 14 September 2019, new rules will apply in the European Union that stipulate that every online payment or banking user must authenticate himself twice (3D Secure 2): this is a combination of knowledge such as a password or PIN, items in his personal possession such as a credit card, or biometrics such as his own fingerprint. For online merchants, this means that they have to change their payment acceptance in the backend to at least two of these three factors.”

Speaking about the onboarding plans, Sreelekha Sankar, EVP Payment & Risk at Wirecard, stated:

“We see the current period shortly before the transition to the new PSD2 regulations very positively. Thanks to our fast digital service offering, our merchants have nothing to be concerned about. Of course, we are pleased that, as a result, we are seeing an above-average number of new customers, both in the large merchant segment on the Wirecard platform as well as in the SME segment via SUPR.”

Wirecard added it has already recorded a sharp increase in new customer registrations in recent months and expects a further increase of 15% in August compared with July.

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