Stripe has consistently demonstrated its desire and ability to bring payment innovation to the market. It should then not come as a surprise that earlier in June, Stripe announced the launch of a new solution in Europe, called delegated authentication, with the aim of improving payment conversion.
UK/EU post-Brexit negotiations recently stalled again. Any economic trade deal between is to some extent dependent on both sides maintaining ‘continued regulatory alignment’ and avoiding ‘regulatory divergence'. In the world of payments regulation, there is evidence of the latter taking place.
As a decentralisation security solution, Strong Customer Authentication (SCA) forces all stakeholders to be compliant for remote electronic payments, from the account servicing payment service provider (i.e., the issuer) through to the acquirer, retailer, and the cardholder.
The PSD2 SCA rules came into effect across the EEA on Saturday 14th September. These SCA rules essentially introduce additional anti-fraud security steps to correctly identify a customer before certain types of remote payments are authorised and processed.
I’ve just checked the countdown widget on our SCA page and its 135 days and 12 hours to go until the SCA effective day of Sept 14th! Preparations in the payment card ecosystem are now in full swing. VISA and Mastercard recently published their official guidelines for achieving SCA compliance via EMV 3D Secure.
Since the UK voted to leave the European Union, the relationship between the two has become increasingly strained and at times things have got hostile. Whether you are in the UK or outside the UK looking in, the past two-and-a-half years of Britain’s fraught, seemingly incessant and increasingly shambolic departure from the EU have proved an eye-opener.