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Making secure payments under PSD2

PSD2 – a new double-check for business

The new EU regulation Payment Services Directive 2 (PSD2) will be coming in later this year, with the aim of making online servicing and transactions, more secure and with increased protection from fraud. 

This isn't limited to Barclaycard Business customers - PSD2 is an industry-wide regulation that will affect all banks, businesses and customers. To help you understand the impact on future payment security, we have a host of information including useful resources in our infographic and white paper as well as a series of helpful FAQs to help you understand the key elements of PSD2 such as SCA.

What do I need to know about Strong Customer Authentication (SCA) ?

A key element of PSD2 is the introduction of an additional step in security for online servicing and transactions, otherwise known as Strong Customer Authentication (SCA). Simply put, with SCA, online servicing and transactions will no longer be made just using your card details – these will need another step of validation to prove it really is you. This is commonly known as two-factor authentication and you will need to select two out of the following three categories:

  •   Something you know e.g. a password or PIN
  •   Something you have e.g. a phone or card reader
  •   Something you are e.g. a fingerprint or face recognition

For example, you can pay and authenticate using your card details, a password (something you know) and a one-time passcode (something you have) sent to your mobile or generated through a PIN Sentry card reader.

Your PSD2 questions answered

New regulations can often sound complicated, so we’ve compiled a list of FAQs that might be able to answer any concerns you may have about PSD2.

Whether you want a better understanding of the changes that are coming or just want to get a bit more detail on the new PSD2 regulation, we’ll help you find the answer you’re looking for here.

Modern payments for modern business

Technology has redefined what banking means and PSD2 is a direct response to growing consumer needs in our connected world. With the global payments industry set to experience unprecedented change in 2019, our whitepaper gives an overview of what you need to know about PSD2 and SCA.

A simple look at PSD2 regulation

The new PSD2 regulation creates an online payment service fit for the 21st century, but what does it mean for your business right now? Read our useful infographic for an overview of the new regulation, as well as the new opportunities and potential challenges PSD2 could bring for small businesses.

Your quick guide to PSD2 and SCA

What is PSD2? How does SCA work? Will SCA change the way you pay? We answer these and many more questions in this easy-to-read article that looks at both PSD2 and SCA, explaining the changes PSD2 will bring to card transactions and what this will mean for your business.

 

Also taking payments under PSD2?

We have a host of resources, industry insight and information to help you understand how to utilise PSD2 in your payment strategy, and how the new regulation could impact your corporate business.

Still need help?

If you can’t find the answer to your question in the FAQs, just give us a call.  

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Do you also have a personal card with us? Find out more about the changes.