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The influential trade group body European Payment Service Providers for Merchants (EPSM) has joined the growing voice of the banking and payments industry to push back the forthcoming Strong Customer Authentication (SCA) deadline for another 18 months.
EPSM joins call for extension to Strong Customer Authentication deadline
In a recent announcement the EPSM noted that, it appreciates the acknowledgement by the European Banking Authority (EBA) that the payments trade needs a flexible approach with the introduction of Regulatory Technical Requirements (RTS) for Strong Customer Authentication (SCA).
“These will become applicable from 14th September 2019. EPSM has suggested time frames for a harmonised migration approach on PSD2-SCA. EPSM is aware that migration plans are currently being negotiated by payment industry participants, together with their respective national authorities, such as the Financial Conduct Authority (FCA).
The aim is to find appropriate solutions for solving technical and operational challenges posed by remote card payments – for merchants, card holders, issuers, and acquirers. EPSM has made clear that rolling out SCA-compliant solutions to merchants poses major challenges.”
The note continues, “To avoid significant acceptance disruptions, EPSM recommends that all regions should agree an additional time frame of 18 months for standard applications, as well as up to 36 months for challenging applications, such as those in the travel and hospitality sector.
This will deliver an EU-wide harmonised migration approach by the EBA and the 28 national regulators for remote card payments.”
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