UK Firms Seek Strong Authentication Leniency On Contactless Cards

UK firms are hoping to seize on regulators’ increasing leniency around incoming strong customer authentication (SCA) reforms, seeking further flexibility on contactless card transactions.

A position paper by industry group UK Finance raised concerns that full compliance with regulatory technical standards on strong authentication could prove challenging for contactless card transactions if strictly enforced from September 14.

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.