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EU payment providers given until 2021 for new secure payment norms

( October 16, 2019, 14:10 GMT | Official Statement) -- MLex Summary: EU payment providers and webstores have been offered until January 2021 to migrate to new secure online card authentication norms, after the European Banking Authority rejected industry plans for an 18-month grace period. The move follows regulators' recognition that many online merchants were ill-prepared to use fingerprint data or one-time passwords in time for a Sept. 14 regulatory deadline.EBA publishes Opinion on the deadline and process for completing the migration to strong customer authentication (SCA) for e-commerce card-based payment transactions[Image]Related documents:...

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