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.
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.
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.