PSD2: Potential impacts to your ecommerce business

On 14 September 2019, the Strong Customer Authentication (SCA) portion of the Revised Payment Services Directive (PSD2) goes into effect. Simply put, PSD2 allows bank customers to give third-party providers access to retrieve their account data from their banks and use it to initiate payments directly from their bank accounts. Created as a way to unify payment systems within the European Economic Area (EEA) and increase banking choices for consumers, this Directive is expected to be a game changer for banking systems at large. Read more…