Comments from Nick Raper, Director of UK, Nuapay

  • Nick Raper, Director of UK at Nuapay

  • 14.03.2022 11:00 am
  • #payment

“Following delays due to the pandemic, we have finally reached the deadline for implementation of Strong Customer Authentication (SCA) for e-commerce transactions.

This regulation is fundamentally transforming how merchants and banks conduct payments. With levels of online fraud increasing over the course of the pandemic, adding extra layers of security to protect businesses and consumers, can only be welcomed.

Without implementing appropriate security measures, we’ll see consumers begin to lose faith in online payments. There is no doubt that fraudsters will only become smarter as digitised services become more widespread, and SCA is a welcome initiative to make payments secure and hand more control back to the consumer.

Open banking payments, which are SCA compliant by nature, are an obvious solution, as they do not require a customer to share their card details with the merchant. A shift in the industry towards open banking payments would not only make businesses transition to SCA compliance far easier but it would also see payments fraud decrease while e-commerce increases. The industry needs to stop talking about security and look to options already available such as open banking payments to ensure that the consumer impact is minimised and merchants are given the tools they need to remain compliant.”


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