Regulators Discuss PSD2 Security Standards Shake-Up

European financial regulators are considering relaxing security standards for the revised Payment Services Directive (PSD2) so payment providers can choose whether to apply strong authentication, PaymentsCompliance has learnt.

According to notes from a meeting between the European Banking Authority (EBA) and national central bank representatives, authorities are discussing changes to the standards that would allow firms to apply a risk-based approach to online payment authentication.

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