What is PSD2?

The payment security standard

Since May 15, 2018, DSP2 applies to all online purchases starting at 30 euros. It helps combat bankcard fraud, which, with the development of e-commerce, is becoming increasingly frequent.

This is the new Payment Services Directive (PSD), which will make online purchases more secure, open and competitive on a European scale.

In particular, it specifies the introduction of SCA (Strong Customer Authentication), and adds an extra level of security for all Internet purchases.

More information is now required, and the authentication tool 3DSecure authentication tool becomes systematic.

Shoppers' banks now offer their customers the option of choosing two factors from a range of personal data to validate their identity at the time of payment. And the choice of different combinations is constantly increasing, to offer buyers even better experiences.

Exemptions

Although SCA is compulsory, there are a number of cases in which your buyer may request an exemption, depending on the transaction.

• Transactions under €30
• Low-risk transactions (level of risk assessed on the basis of the average fraud rate at the card issuer and the acquirer processing the transaction)
• Subscriptions and recurring transactions, provided the amount is constant. Only the initial transaction requires an SCA procedure. If the amount is modified, authentication via 3DSecure will be required for each change.
• Inter-regional transactions: payments from buyers outside Europe will not be a problem.
• Business card payments.

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