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The European PSD2 directive on electronic payment services

What is the purpose of PSD2?
The second European Digital Payments Services Directive (Payment Service Directive 2) has been created with the aim of improving security in electronic payments, promoting development and competition between countries and providers, as well as the development of a more integrated and efficient payments market in Europe.
How does this regulation affect you?
One of the most important points established by PSD2 is Strong Customer Authentication (SCA).

This is a compulsory procedure for checking your authenticity by means of two factors that belong to one of these fields:

  • Something that only the client knows, for example, the password.
  • Something that only the customer has, for example, his mobile phone.
  • Something that only the customer has, e.g. his fingerprint.

This double authentication procedure is therefore mandatory when accessing your online accounts or initiating electronic payment transactions.

It is not always necessary to apply SCA, in the case of gift card payments or if the purchases do not amount to very high amounts. Cardholders will now see that they need to take this step on a more regular basis.
How is the purchase process carried out?

  • Realizza un acquisto in negozio con carta di credito.
  • Autorizza l’acquisto online tramite autenticazione forte.
  • Torna in negozio, verifica l'acquisto e quindi termina il processo.