The European Banking Authority (EBA) has told an EU committee it will “seriously consider” amending its controversial technical standards on payments security, but warned the process will take longer than planned.
EBA chairperson Andrea Enria admitted on Tuesday that the regulator’s proposal to require strong customer authentication for all online transactions of more than €10 may need to be altered.
Speaking at a scrutiny hearing in Brussels, the regulator said the threshold — which will eventually form part of the revised Payment Services Directive (PSD2) — had been subject to a slew of industry criticism.
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