eba sca deadline

posted in: Uncategorised | 0

However, in light of the challenges that have arisen during preparations for migration to SCA, namely a fragmentation across Europe in terms of readiness, agreed standards and deadlines, something we wrote about here,the European Banking Authority (EBA) recently took the decision to push back the deadline by 15 months, setting a new date of 31 December 2020. The European Banking Authority (EBA) has extended the deadline for Strong Customer Authentication (SCA) to December 31 2020. The first of these is a 31 December 2019 deadline for PSPs to inform their national regulators of the authentication methods they are making available to customers and which comply under SCA. Please get in touch with Mardi MacGregor or Chris Finney from the Financial Services Regulatory team if you would any further assistance with this matter. In the Opinion paper published on 16th October 2019, the EBA requested that the National Competent Authorities (NCAs) take a “consistent approach toward the SCA migration period” across the European Union, and that they ensure that their respective PSPs carry out the actions set out in the paper. //window.location.replace( 'http://your_thank_you_page_url' ); Although the SCA requirements for e-commerce card-based payment transactions officially came into force on 14 September 2019, few European banks or PSPs have started enforcing these requirements and declining non-authenticated payments. This would put a dampener on the festive season come December 2020.”. The FCA has not yet updated their implementation deadline of 14 March 2021 (which was reached following in-depth industry consultation and still appears on their website) or issued a statement in response to the Opinion. url: "/wp-admin/admin-ajax.php", The cookie is used to track user behavior anonymously to generate usage trends to improve relevance to their services and advertising. Otherwise, they may run the risk of last-minute snags and compliance concerns. remind PSPs that the Article 74 PSD2 liability regime (which establishes a PSPs liability for unauthorised payment transactions) already applies to PSPs and that therefore PSPs have a self-interest in complying with the SCA requirements as soon as possible. When used correctly, fixed-term employment contracts are an effective tool for matching staffing levels with the needs o... Whilst most employers have a staff handbook (or at the very least, a collection of core policies for staff), many have y... For help and advice talk to a member of our team on +44 (0)20 7628 2000, Need more information about the above people and legal expertise?Talk to one of our lawyers: +44 (0)20 7628 2000. //alert(email); //alert(data); The data includes the number of visits, average duration of the visit on the website, pages visited, etc. For many players in the travel and retail industries, reaching SCA compliance has been a challenge. The latest EBA Opinion, published on 16 October 2019, recommends that the period of supervisory flexibility for implementation of strong customer authentication (SCA) requirements under the second Payment Services Directive 2015/2366 (PSD2) should end on 31 December 2020, 15 and a half months after entry into force of the requirements on 14 September this year. This news was welcomed by businesses across the UK who were not yet ready to meet the deadline. At the moment, it is unclear whether the FCA will bring forward its deadline in order to comply with the EBA Opinion. )+([a-zA-Z0-9]{2,4})+$/; return false; The comprehensive guide to SCA. © Copyright 2020 Verdict, a trading division of Progressive Digital Media Ltd. EBA sets new 2020 deadline for Strong Customer Authentication, October 17, 2019 (Last Updated October 18th, 2019 10:48), WorldRemit, Digicel team up to support mobile money transfers, Shopping app Joom receives e-money licence in Luxembourg, InComm Payments buys gift card processor Todo Cartoes, Black Friday online sales expected to skyrocket as customers stay in, Interbrand ranking 2020: financial institutions take a hit, Speed with control: Path to success for digital payment participants, Indian fintech Cashfree rakes in $35m to scale payment offerings, Saudi Arabia’s stc pay in talks with regulators for Gulf expansion, Indian paytech FSS commits to supporting Saudi Arabia’s digital payments ecosystem, NPCI onboards 131 partners to boost India’s retail payments ecosystem, NPCI sets 30% cap on transaction volumes for UPI apps, IBA, PCI in discussions to form non-profit JV for digital payments regulation, Paynetics taps Visa Token Service to offer competitive business solutions, ACI Worldwide launches cloud-based tool to tackle UPI payments fraud, ECOMMPAY launches payment solution for mobility industry, Samsung Pay research shows Covid-19 as driver of digital payments in UK, Iran Cards and Payments Report is now on Research and Markets’ menu, Express joins Klarna’s US retail partner network, Payments startup Marqeta prepares to go public; seeks $10bn valuation, Stripe in talks to raise fresh funds at valuation over $70bn. It doesn't track any personal data and is set only upon user action (accept/reject). The purpose of this cookie is to check whether or not the user has given their consent to the usage of cookies under the category 'Non-Necessary'.

Rose Is A Herb Or Shrub, Violin And Cello Duets Classical, Good Samaritan Sermon, Honda Cbr1000rr 2008, Killer Potato Macaroni Salad Recipe, World Famous Sausages, Beautyrest Black Split King, Is Rice Vinegar Anti Inflammatory, Closet Background Cartoon, Dorian Yates Workout Back, Filmfare Awards 2019 Full Show Hd, Bubble Answer Sheet Pdf,