UK Retail Sector Relieved As Regulator Swerves Strong Authentication 'Cliff Edge'

Industry groups say the decision by UK regulators to delay enforcement of strong authentication reforms will help steer firms away from a “cliff edge” next month, despite the decision not to give longer for more complex cases.

Despite its significance for online card payments providers, Tuesday’s announcement from the Financial Conduct Authority (FCA) did not distinguish between different retail sectors, although industry group UK Finance had made pleas for a three-year transition period for travel and hospitality.

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