Improve Fraud Detection Or Lose Out To Rivals, Acquirers Told

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.

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