From securityintelligence.com
Rapid changes in the payments industry, the meteoric rise of e-commerce and the constant threat of fraud have led the European Union (EU) to update its Payment Services Directive (PDS), which has regulated the electronic payment services industry since 2007.
The EU’s new PSD2 directive (2015/2366/EU), a revision of the PSD, is about to take effect. One of the most relevant changes relates to the security of electronic payments through a new technical standard that regulates strong customer authentication (SCA), which will have tangible effects on how we execute electronic payment transactions, both through e-banking sites and online stores.