Inlay authentication in psd

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Aug 6th, 2022
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How to inlay authentication in psd

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hi Iamp;#39;m Lila Botkin from the e-commerce Association of Ireland this month were talking about PSD to what it means to online retailers Iamp;#39;m here in the beautiful City Hall and DOMA City Center and Iamp;#39;m joined by David Jones today from MasterCard hey David welcome hi thank you for having me so David can you explain what exactly is strong customer authentication or SCA well so strong customer authentication is based upon some specifications that are written as part of PSE - so PSD - itamp;#39;s banking regulation that really focuses on two main area one is around open banking and what that involves and how they should work and the other is very much around strong customer authentication which is really about preventing fraud particularly in e-commerce and so what it requires is when you do a transaction in any commerce environment the consumer has to authenticate themselves using two out of three things so either something they are something they have or something th

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The Payment Services Directive is an EU Directive administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA).
SCA, also known as two-factor authentication, is a part of the PSD2 law that will bring an additional layer of security needed at the time of a transaction. Initially, customers used a time-bound one-time password to verify a transaction via 3D Secure (3DS).
The PSDs purpose was to increase pan-European competition and participation in the payments industry also from non-banks, and to provide for a level playing field by harmonizing consumer protection and the rights and obligations of payment providers and users.
Payment Services Directive (PSD2): Regulatory Technical Standards (RTS) enabling consumers to benefit from safer and more innovative electronic payments.
What is Strong Customer Authentication? Strong Customer Authentication (SCA) is a new requirement of the second Payment Services Directive (PSD2), which aims to add extra layers of security to electronic payments.
In particular, SCA will apply each time a payer: accesses its payment account online. initiates an electronic payment transaction. carries out any action through a remote channel which may imply a risk of payment fraud or other abuse.
While PSD1 only applies to intra-EU payments, PSD2 extends a number of obligations, notably information obligations, to payments to and from third countries, where one of the payment service providers is located in the European Union.
SCA means an authentication based on the use of two or more elements categorised as knowledge (something only the user knows), possession (something only the user possesses) and inherence (something the user is) that are independent, in that the bdocHub of one does not compromise the reliability of the others and is

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