Incoming EU rules on strong authentication will place unprecedented demands on payment providers to keep fraud rates low or risk losing out to more tech-savvy competitors, industry insiders believe.
Regulatory technical standards (RTS) currently in the final stages of the European legislative process introduce a requirement for providers to carry out two-factor authentication before approving an online payment of more than €30, unless their fraud rates are below certain values.
To continue reading...
Our Key Benefits
PaymentsCompliance is a premium information service for compliance, legal and regulatory professionals. Our award-winning regulatory monitoring platform is used by many of the world's leading payment services providers and e-money institutions, regulators, challenger banks, fintechs and law firms.
We keep our clients informed of critical regulatory change and help them understand, with in-depth analysis, when change is coming and the implications for their organisation.
We provide our clients with a quantifiable and significant ROI by reducing the amount of time and money spent monitoring and analysing regulatory environments in multiple jurisdictions.