The UK’s Financial Conduct Authority (FCA) has urged issuers and acquirers to avoid changing how contactless transactions are handled for a limited period, despite new strong authentication rules taking effect over the weekend.
The authority circulated a statement to various industry stakeholders on Monday, via banking and payments association UK Finance. It was penned by FCA director of supervision for retail financial services and authorisation Jonathan Davidson.
Request a Free Trial
As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.Take a Trial