PSD2: Strong Authentication Compromise On The Horizon

Authorities in Europe appear to be inching closer to a compromise on incoming strong authentication rules, following sustained warnings the reforms cannot be met in time for September’s deadline.

From September 14, two-factor authentication must be applied to online payments of more than €30 in every EU member state, unless an exemption can used — prompting widespread fears that the added friction could cause transaction abandonment rates to soar.

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