EBA sets the deadline for the migration to SCA under the revised Payment Services Directive: 31 December 2020

17 octombrie 2019

European Banking Authority is coming to Banking 4.0 – international fintech conference which will be held on 25 and 26 November, at Athenee Palace Hilton Hotel in Bucharest. The slogan for this second edition is „Compliance alone is a losing strategy!”

The European Banking Authority (EBA) published today an Opinion on the deadline for the migration to SCA under the revised Payment Services Directive (PSD2) for e-commerce card-based payment transactions. The Opinion sets the deadline to 31 December 2020 and prescribes the expected actions to be taken during the migration period.

Today’s Opinion also recommends national competent authorities (NCAs) to take a consistent approach toward the SCA migration period across the EU and to require their respective payment service providers (PSPs) to carry out the actions set out in the Opinion.

In addition, the Opinion recommends that, where required, NCAs communicate to PSPs in their jurisdiction that the supervisory flexibility they have exercised does not represent a delay in the application date of the SCA requirements in PSD2 and the EBA’s Technical Standards. Rather, it means that NCAs will focus on monitoring migration plans instead of pursuing immediate enforcement actions against PSPs that are not compliant with the SCA requirements.

Furthermore, the EBA notes that consumers will be protected against fraud as required by the law and NCAs should, therefore, communicate to their PSPs that the liability regime under Article 74 of the PSD2 applies and that issuing and acquiring PSPs are still liable for unauthorised payment transactions.

Adauga comentariu

Noutăți
Cifra/Declaratia zilei

Jan Schildbach – Analyst Deutsche Bank


„Though Libra has met with fierce resistance from central banks and supervisory authorities and might never see the light of day, in many other cases tech firms (both start-ups and established big players) have successfully captured bits and pieces of universal banks’ traditional value chain. This trend may only intensify in the coming years. In this environment, European banks remain squeezed.”

Sondaj
In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale in 2020?
NoCash