On the 16 th of October, the European Banking Authority (EBA) formally released its so-called Opinion in favor of extending the migration deadline to the 31 st of December 2020. Strong Customer Authentication, or SCA as it is commonly referred to, is an important and far-reaching mandate aimed at stepping up security during e-commerce payment transactions, taking into account the new and evolving scenarios introduced under PDS2 and Open Banking. setTimeout(function() { NCAs subsequently started to publish their own migration plans (including the UK, French and Danish regulators which each announced an 18 month enforcement delay until March 2021). Regulated and unregulated clients should continue to implement SCA as quickly as reasonably possible and monitor for any updates released by the FCA and other NCAs. 03984951008, EBA extends SCA deadline to 31 December 2020. It doesn't track any personal data and is set only upon user action (accept/reject). consumers that may not have a mobile phone or online banking but that make card purchases online. function isEmail(email) { This may include solutions such as PIN-authentication or fingerprint ID scanning. The cookies store information anonymously and assigns a randomly generated number to identify unique visitors. This is because more factors means more time is being spent. The new date that the requirements will begin to be enforced is December 31, 2020. The FCA has not yet updated their implementation deadline of 14 March 2021 (which was reached following in-depth industry consultation and still appears on their website) or issued a statement in response to the Opinion. These cookies track visitors across websites and collect information to provide customized ads. success:function(data){ When used correctly, fixed-term employment contracts are an effective tool for matching staffing levels with the needs o... Whilst most employers have a staff handbook (or at the very least, a collection of core policies for staff), many have y... For help and advice talk to a member of our team on +44 (0)20 7628 2000, Need more information about the above people and legal expertise?Talk to one of our lawyers: +44 (0)20 7628 2000. The latest EBA Opinion, published on 16 October 2019, recommends that the period of supervisory flexibility for implementation of strong customer authentication (SCA) requirements under the second Payment Services Directive 2015/2366 (PSD2) should end on 31 December 2020, 15 and a half months after entry into force of the requirements on 14 September this year. Especially the decision to propose a harmonised approach to SCA across the region. } return regex.test(email); }); Giving both issuers and acquirers clear milestones ahead of the new deadline provides a natural glide path that will be vital for a smooth and consistent migration across Europe. communication protocol that is made available by the major card schemes, which seems to be the dominant technical solution for ensuring compliance with SCA requirements (the 3DS V2.2. var regex = /^([a-zA-Z0-9_.+-])+\@(([a-zA-Z0-9-])+\. Analytical cookies are used to understand how visitors interact with the website. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. } Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. The EBA’s most recent opinion recommends national competent authorities (NCAs) to take a consistent approach towards the SCA migration period and to require PSPs to carry out the actions set out. This website uses cookies to improve your experience while you navigate through the website. The European Banking Authority has elected to move the deadline for the migration to SCA by another 15 months, to 31 December 2020. })(window.jQuery); Following the FCA’s decions, the Central Bank of Ireland quickly announced a delay in rolling out SCA. Do you need to register (notify) under the Data Protection Act? The cookie is used to track user behavior anonymously to generate usage trends to improve relevance to their services and advertising. url: "/wp-admin/admin-ajax.php", The first of these is a 31 December 2019 deadline for PSPs to inform their national regulators of the authentication methods they are making available to customers and which comply under SCA. jQuery.ajax({ EBA extends SCA deadline to 31 December 2020. You also have the option to opt-out of these cookies. It is mandatory to procure user consent prior to running these cookies on your website. return false; Google Analytics cookies to track users as they navigate the website and help improve the website's usability. However, rather than pursuing immediate enforcement actions against PSPs that fail to comply with the SCA requirements, NCAs are urged instead to focus on monitoring migration plans. the travel and hospitality industries; for smaller, less sophisticated retailers; and for those that are working to tailor solutions to vulnerable customers e.g. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. This move has been warmly welcomed by the majority of PSPs, many of whom were struggling to implement the new rules or concerned about the lack of uniformity, which risked undermining the goal of having one single and competitive EU payments market. This cookie is used to a profile based on user's interest and display personalized ads to the users. Brian Gaynor, Executive Director, Product Solutions, J.P. Morgan, said:“We fully welcome the clarity the EBA announcement brings. }, 3000); The new EBA announcement comes after it issued an opinion in June 2019 giving merchants extra time when implementing the regulations. These cookies will be stored in your browser only with your consent. The European Banking Authority (EBA) has released a new opinion on strong customer authentication (SCA), revealing a possible route for extensions ahead of the September 14 deadline.. The comprehensive guide to SCA. An 18-month implementation period would have been in line with the migration plan published by the UK Financial Conduct Authority (FCA) and numerous other NCAs, and it would have enabled the roll-out and implementation of the 3DS V2.2.