PSD2 & SCA
Why am I asked for my PIN when making contactless payments with my myPOS business card?
Following the PSD2 legislation and the SCA requirements, all merchants will be asked for their PIN when making contactless payments in the following cases: You make a single transaction above 50 EUR. You make consecutive contactless payments exceeding ...Continue reading
How does PSD2/SCA apply to the use of my myPOS business card?
For merchants using their myPOS business card for contactless payments, you will be asked to enter your PIN when using your Visa or Mastercard in the following cases: You make a single transaction above 50 EUR. You make consecutive contactless payments...Continue reading
PSD2 and myPOS
Always being driven by innovation and modern technologies, we at myPOS have taken all the necessary measures to ensure that the payment service of our merchants is in line with PSD2. By choosing myPOS as your partner in payments, you save yourself hassl...Continue reading
How will PSD2 affect marketplaces?
There are several options for merchant’s marketplaces to comply with PSD2 changes. Either become a payment institution, which incurs significant cost and operational changes, or outsource part of the marketplace functionality, such as payments to a lice...Continue reading
What changes does PSD2 bring?
The European Commission has long sought to make electronic payments as simple and secure across the EU as they are within a single market. Strong Customer Authentication (SCA) for electronic payment transactions. Third-party access to data, with the co...Continue reading
Why was PSD2 created?
PSD2 was created due to the changes in consumer behavior and the evolution in the ways we pay, following technology innovation and consumer demand. It is meant to make the payment industry safer and fairer.Continue reading
What are PSD2 and SCA?
PSD2 or Payment Services Directive 2 is legislation, which has been in force since September 14, 2019. PSD2 is especially important in the world of payments as it brings a number of changes that aim to protect consumers when it comes to online payments....Continue reading