The Monthly Subscription And Only Pays

On January 1, 2021, Germany will implement the PSD2 Payment Services Directive adoptd by the EU into national law. That was actually plannd for September 14, 2020. However, since many traders were still having problems with the practical implementation of PSD2 at the time, the financial supervisory authority suspendd the obligation for strong customer authentication SCA (Strong Customer Authentication), which PSD2 provides, for the time being.

Changes His Mind He Simply Cancels

With the SCA – in German also “two-factor authentication” (2FA) – the EU does not want to annoy the consumer. On the contrary: it is whatsapp mobile number list another important tool against the misuse of crdit card data on the Internet. In order to make it more difficult for fraudsters to do their job, it will be mandatory from 2021 to enter another authentication feature in addition to the card number and check digit. As mentiond, this is the TAN, which is usually sent by SMS, app or e-mail, as well as a password.

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Are Not Applicable If The Customer

In this way, the card-issuing institute can check the identity of the payer before he approves a transaction. In addition to the Caseno Email List TAN, this would also be possible using a biometric identification such as a fingerprint. This is not yet a standard, but the card providers are working on it. Important to know: If you pay with your Corporate Card on site – for example when checking out of the hotel – nothing will change for you. Entering the PIN is still sufficient. And for contactless payment, most providers are even increasing the amount limit from the previous 25 to 50 euros (maximum 5 transactions.

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