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ARTICLE · 26 JUNE 2018

European Banking Authority Clarifies Strong Customer Authentication Requirements For Account Servicing Payment Service Providers

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On June 13, 2018, the European Banking Authority published an Opinion on the implementation of the Regulatory Technical Standards on strong customer authentication ...

European UnionFinance and Banking
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On June 13, 2018, the European Banking Authority published an Opinion on the implementation of the Regulatory Technical Standards on strong customer authentication and common and secure communication. It has also published a consultation paper on draft Guidelines on the conditions that an account servicing payment service provider (ASPSP) must meet if it wants to provide access via a dedicated interface and be exempt from the obligation to have a fall-back option in place.

PSD2 requires that SCA is used for accessing a payment account online, initiating a payment transaction and carrying out a transaction through a remote channel. The RTS on SCA and CSC will apply directly across the EU partly from March 14, 2019 and predominantly from September 14, 2019.

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