SCA, part of the Payment Services Directive (PSD2), requires merchants to introduce two-factor authentication when purchasing online. Our sense is that, for some industry players, 18 months was already an ambitious timeline and that some may struggle to be compliant within a 15-month period. The cookies store information anonymously and assigns a randomly generated number to identify unique visitors. Five myths about fixed-term employment contracts. But opting out of some of these cookies may have an effect on your browsing experience. Furthemore, due to SCA requiring multi-factor authentication, merchants were worried customers would abandon their shopping. This delay follows an original opinion published by the EBA on 21 June 2019 (see our previous post on this here) which suggests that NCAs should temporarily suspend their enforcement on the SCA requirements. To learn how TAS Group can help you to intelligently manage SCA with our 3D Secure 2.0 solution, and to use Machine Learning to apply TRA-based SCA exemptions, get in touch. 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). By December 2020 it seems that a level playing field is finally in sight. Do you need to register (notify) under the Data Protection Act? $( 'form.widget_wysija' ).submit(function(e){ Clients should ensure that they follow these developments in order to keep fully up-to-date with FCA expectations in this area. The European Banking Authority (EBA) has extended the deadline for Strong Customer Authentication (SCA) to December 31 2020. return regex.test(email); communication protocol that is made available by the major card schemes, which seems to be the dominant technical solution for ensuring compliance with SCA requirements (the 3DS V2.2. This cookie is used to measure the number and behavior of the visitors to the website anonymously. 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. By clicking “Accept”, you consent to the use of ALL the cookies. You also have the option to opt-out of these cookies. Although the Opinion is addressed to the national competent authorities (NCAs), it is also relevant to payment service providers (PSPs), card schemes and payment service users, including merchants. 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. The European Banking Authority (EBA) has extended the deadline for Strong Customer Authentication (SCA) to December 31 2020. The cookie is set by Addthis which enables the content of the website to be shared across different networking and social sharing websites. This move has been warmly welcomed by the majority of PSPs, many of whom were struggling to implement the new rules or concerned about the lack of uniformity, which risked undermining the goal of having one single and competitive EU payments market. © Copyright 2020 Verdict, a trading division of Progressive Digital Media Ltd. 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In August, the UK’s Financial Conduct Authority (FCA), was one of the first to implement a delay. This is a geolocation cookie to understand where the users sharing the information are located. This cookie is set by Addthis.com to enable sharing of links on social media platforms like Facebook and Twitter. This cookie is installed by Google Analytics and collects information on how users interact with the website. Unless other national banking authorities follow in the footsteps of the FCA, the original 14 September deadline will still apply to at least some of the transactions of the vast majority of online businesses in Europe. […] In the Opinion paper published on 16th October 2019, the EBA requested that the National Competent Authorities (NCAs) take a “consistent approach toward the SCA migration period” across the European Union, and that they ensure that their respective PSPs carry out the actions set out in the paper. 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.. The latest EBA Opinion now recommends that NCAs grant PSPs a maximum enforcement delay of 15 and a half months until 31 December 2020, after which the period of supervisory flexibility should end. var email = $( '#form-validation-field-0' ).val(); 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.. type:"POST", 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. The EBA has however removed the need for National Competent Authorities (NCAs) to report their SCA readiness by March 31, 2020. Records the default button state of the corresponding category. if( msg.text() !== '' ){ Google Analytics cookies to track users as they navigate the website and help improve the website's usability. Since the announcement, the news has been welcomed by a number of financial institutions across Europe. It works only in coordination with the primary cookie. data: { email : email, action : 'add_to_mail'}, 03984951008, EBA extends SCA deadline to 31 December 2020. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. The EBA, working in partnership with payment service providers, acquirers, issuers, merchants, and the payment networks, published its opinion on the deadline and process for completing the migration to SCA. 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