Greece Ushers In Strong Authentication Grace Period

Greece’s central bank has joined the ranks of national regulators granting payment services providers respite from enforcing incoming EU rules on strong customer authentication (SCA) for online card payments.

The regulatory technical standards (RTS), which are part of the EU’s revised Payment Services Directive (PSD2), come into effect on September 14, 2019 but the European Banking Authority (EBA) has permitted member states to delay enforcement because of widespread ill-preparedness for the reforms.

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