The European Banking Authority (EBA) released ‘Final guidelines on the security of internet
payments’ (Guidelines). These Guidelines are based on the
work published by the European Forum on the Security of Retail
Payments (SecuRe Pay) and set the minimum security requirements
that Payment Services Providers (PSPs) in the EU will be expected
to implement by 1 August 2015.
Internal payment services covered in the scope of the Guidelines
include the execution of card payments; the execution of credit
transfers; the issuance and amendment of debit electronic mandates;
and transfers of electronic money between two e-money accounts.
In particular, the Guidelines emphasise the importance of PSPs
roles in providing assistance and guidance to their customers in
relation to the secure use of Internet payment services. Among
other things, the EBA requests that services should adopt formal
security policies; conduct and regularly update security risk
assessments; and strengthen
