Europe: EBA Finalises Guidelines on Exemption from the Contingency Mechanism under the RTS on Strong Customer Authentication

On December 4, 2018, the European Banking Authority (EBA) published final guidelines on the conditions that account servicing payment service providers (ASPSPs) must meet to be exempted from the obligation to implement the fallback mechanism under the regulatory technical standards (RTS on SCA & CSC).

The guidelines will be translated into the official EU languages and published on the EBA website subsequently. The deadline for competent authorities (CAs) to report whether they comply with the guidelines will be two months after the publication of the translations. The guidelines apply from January 1, 2019.

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