Set authentication in psd smoothly

Aug 6th, 2022
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How to Set authentication in psd

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hi Im Noel bodkin from the e-commerce Association of Ireland today Im with Federico Gaffney from Elavon and as part of the insight series this month were looking at PSD 2 and its implications on e-commerce so hi Federico hi there hello Im good thank you so what is the mechanism to apply strong customer authentication in an e-commerce scenario so authentication means the ways in which the card issuers make sure that the person making a payment transaction are what they claim to be so a strong customer dedication means an additional security to to that authentication that the issuers bank will have to undertake counter regulation this is provided or the way this is actually achieved is through the use of two factors out of three possible categorys this categorys art knowledge something that the payment service user only knows possession something that the payment service user has or inherent something that the payment service user actually is so in inherence we have things like f

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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. (such as a password or PIN). (such as a mobile phone, card reader or other device evidenced by a one-time passcode).
A soft decline can occur when the card issuer determines that the authorisation does not meet the requirements of PSD2 with regards to the demand for authenticating the payment with Strong Customer Authentication (SCA) mechanisms.
If youre not compliant, you dont just risk losing money through failed authorisations, transactions and hefty fines; you risk severe reputational damage.
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.
This means a customer must authenticate their payment using at least two independent factors: Possession something only you have. For example, your mobile device registered with your issuing bank or a hardware that has been issued to you. Inherence something only you are. Knowledge something only you know.
Strong customer authentication (SCA) is a requirement of the EU Revised Directive on Payment Services (PSD2) on payment service providers within the European Economic Area. The requirement ensures that electronic payments are performed with multi-factor authentication, to increase the security of electronic payments.
Typically, you direct the customer to an authentication page on their banks website, and they enter a password associated with the card or a code sent to their phone. This process is familiar to customers through the card networks brand names, such as Visa Secure and Mastercard Identity Check.
Strong Customer Authentication (SCA) is a European regulatory requirement to reduce fraud and make online and contactless offline payments more secure. To accept payments and meet SCA requirements, you need to build additional authentication into your checkout flow.

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