Payment: the PSD2 Directive

Want to learn more about the new European Payment Services Directive (PSD2) ?

1 Answer

What is PSD2 ?

This is the new Payment Services Directive, which moves towards greater security, openness and competitiveness on a European scale for online purchases.

In particular, it specifies the implementation of SCA (Strong Customer Authentication), and adds an extra level of security to make any purchase on the internet.
More information is now required and the 3DSecure 2 authentication tool becomes systematic.

Buyers' banks now offer their customers the option of choosing two factors from a number of personal details to validate their identity at the time of payment. And the choice of different combinations continues to grow in order to offer shoppers better experiences.

There are exemptions!

While SCA is mandatory, there are several use cases that may be subject to exemption requests from your buyer, depending on the transaction.

  • Transactions for an amount less than €30
  • Low-risk transactions (risk level assessed based on the average fraud rate at the card issuer and at the acquirer processing the transaction)
  • Subscriptions and recurring transactions, provided the amount is constant. Only the initial transaction requires an SCA procedure. If the amount is changed, authentication via 3DSecure will be requested at each change
  • Inter-regional transactions: payments from buyers outside Europe will therefore not be an issue
  • Business card payments.

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