PSD2 and the impact on your business

From big businesses to small start-ups, the new EU regulation Payments Services Directive 2 (PSD2) will come into place by 14 September 2019 and will impact the way you make payments and take payments - read on for more information.

What is PSD2 and why is it happening?

A global study by PwC in 2018 showed that 49% of organisations had fallen victim to fraud – up from 36% in 2016*. With the numbers around online shopping only rising each year, PSD2 is a response to the rise in payment technology and can offer greater protection for your business.

The new PSD2 regulation isn’t limited to Barclaycard business customers. The new rules look to protect all banks, businesses and customers from the risk of fraud with the aim of making online shopping safer and more secure.

What's Strong Customer Authentication (SCA)?

A key element of PSD2 is the introduction of additional steps in security for online transactions, otherwise known as Strong Customer Authentication (SCA). With SCA, customers will no longer be able to purchase online just using their card details – they’ll need an extra source of validation to prove it’s not a fraudulent transaction.

How can Barclaycard help me?

Across our support pages we have a host of resources from long reads to infographics to FAQs, that can help you along the journey into PSD2 compliance.

Our support and information should help you start to consider how SCA could impact your customer journeys and sales models. We can also offer insight on what your business may need as depending on your chosen payment methods, SCA can have different implications for the future.

Taking business payments under PSD2

If your business is taking payments under PSD2, we have a host of resources to understand how utilising this new regulation in payment strategies can help redefine advantage in your industry. 

Making business payments under PSD2

PSD2 is a new double check for business to help make online transactions safe and secure. Our support page provides plenty of information to help, including a white paper, infographic and FAQs.

Making personal payments under PSD2

Do you also have a personal card? Whether it’s the Barclaycard app, text message, or a PINsentry card reader, we’ve got easy and secure ways to confirm it’s you when making personal card payments.