Security of Internet Payments: Legislative Developments in Europe

In the ongoing discussion on PSD2, in late June the European Banking Authority (EBA) published its opinion on the European Commission’s proposed amendments to the PSD2 draft Regulatory Technical Standards (RTS) on Strong Customer Authentication and Common and Secure Communication. Below, we’ve included a simplified version of the debate about the amendments to help you navigate PSD2. The EBA’s opinions on the four amendments proposed by the Commission are as… Read more


July 6, 2017 - Guest Blogger Lars Birkeland, Marketing Director of Promon
PSD2 Creates Opportunities for Payment Providers but also Vulnerabilities to Mobile Users

Customers of the British retail bank Tesco Bank awoke in early 2017 to find their bank accounts drained of funds. The recent Tesco Bank hack has left the retail banking world reeling, searching for answers and more effective ways to secure themselves against future attacks. It has been revealed weaknesses in the bank’s mobile applications left the door open for cybercriminals to brute force their way in and take more than £2.5 million… Read more


EBA Eases Strong Customer Authentication Requirements under PSD2

On 23 February the European Banking Authority (EBA) proposed its final draft Regulatory Technical Standards (RTS) on Strong Customer Authentication and Common and Secure Communication (CSC) under PSD2 to the European Commission (EC). On 24 May the Commission sent a letter to the EBA, stating its intent to amend the final draft RTS. The EBA published this letter as well as the amended RTS on its website. The Commission proposes… Read more


EBA Eases Strong Customer Authentication Requirements under PSD2

On Thursday 23 February, the European Banking Authority (EBA) published its long-awaited final draft Regulatory Technical Standards (RTS) on Strong Customer Authentication (SCA) and Common and Secure Communication (CSC) under the revised Payment Services Directive (PSD2). In general the EBA has relaxed its requirements compared to the RTS in the EBA’s Consultation Paper from August 2016. Here are the most important changes: Transaction risk analysis. The final draft RTS introduces… Read more