Denmark: Financial Supervisory Authority Publishes Payments Council's Opinion on Strong Customer Authentication

On June 4, 2019, the Danish Financial Supervisory Authority (Finanstilsynet) published the opinion of the Payments Council on the new rules related to electronic payments and strong customer authentication (SCA) that are expected to become applicable in Denmark on September 14, 2019 under the revised Payment Services Directive (PSD2).

In light of PSD2, which was transposed into the national legal order in January 2018, SCA is based on two-factor authentication that will reflect the customers’ possession, knowledge or inherence.  

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