Tagged: strong customer authentication

Nationwide Building Society Reportedly Stops 2,000 More Online Shopping Frauds with SCA

central london1

New payment checks at online checkouts are “proving invaluable” as Nationwide Building Society reports it is “protecting its members from an additional 2,000 cases of online card fraud a month.” Despite the fact that some transactions now take a little longer, new research from UK’s… Read More

UK Retailers Losing Out on £4.3M in Sales Each Day as SCA Rules Block Non-Compliant Transactions: Report

Flaking Peeling Pound UK

Data from Barclaycard Payments, which handles £1 in every £3 spent on credit and debit cards in the United Kingdom, reveals that many online businesses are still “not fully compliant with the new Strong Customer Authentication (SCA) regulation – which became mandatory for all transactions… Read More

Checkout.com Explains How Firms Can Make SCA a Part of their Competitive Advantage

Cash Register

Checkout.com, which recently raised $1 billion at a $40 billion valuation, notes that Strong Customer Authentication (SCA) is now “mandated across all of Europe and businesses have had to make changes to make sure they are compliant.” The team at Checkout.com writes in a blog… Read More

TrueLayer Clarifies What Changes to 90 Day Rule for Open Banking Access Actually Mean

The City of London UK

Jack Wilson, Head of Public Policy at TrueLayer, notes that Open banking started back in 2018 thanks to appropriate regulations (PSD2) which gave consumers the right “to access their bank account data using third parties called account information services providers (AISPs).” However, these same set… Read More

ACI Worldwide, Provider of Real-Time Payment Solutions, Partners Swedbank, Will Combat Online Fraud

swedbank headquarters

ACI Worldwide (NASDAQ: ACIW), an international provider of real-time payments and digital payment software applications, reveals that it has teamed up with Swedbank, a leading issuing and acquiring bank in the Nordic and Baltic regions. The company has contributed to a 55% decrease in payment… Read More

European Banking Authority Releases Report on Data Provided by PSPs on SCA Compliance Readiness

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The European Banking Authority (EBA), a regulatory body of the European Union that’s headquartered in Paris, released a report, earlier this week, on the data offered by payment service providers (PSPs) on their readiness to apply strong customer authentication (SCA) for the set of payment… Read More

UK’s Financial Conduct Authority Postpones Implementation of Strong Customer Authentication by Another 6 Months

Time Late Delay Statue

The UK’s Financial Conduct Authority (FCA) will be postponing the implementation of strong customer authentication (SCA) rules by another 6 months in order to minimize disruption for individual consumers and merchants. First scheduled for release in September 2019, the SCA guidelines – which require a… Read More

Strong Customer Authentication, a Requirement to Combat Payments Fraud, Might Lead to Many Customers Abandoning Purchases at Checkout

Digital ID Identity Identification iPhone

Strong Customer Authentication (SCA) testing performed by tech giant Microsoft reveals that consumers are actually leaving their planned purchases at relatively high rates when challenged at the time of checkout. SCA is a European regulatory requirement that aims to reduce or eliminate fraudulent activities and… Read More

Stripe Announces Acquisition of TouchTech Payments to Accelerate Strong Customer Authentication For Financial Institutions

Stripe

Payments platform Stripe announced on Wednesday it has acquired Ireland-based Touchtech Payments, a software company, to accelerate Strong Customer Authentication (SCA) for financial institutions. According to Stripe, TouchTech Payments provides advanced SCA-ready authentication technology for some of Europe’s leading fintechs and challenger banks, like N26,… Read More

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