theEBA(suchas,forexample,theimplementingtechnicalstandardsandtheregulatorytechnicalstandards),asinthiscase theactisformallyattributabletotheEUCommission.WithreferencetothespecificroleoftheEBAaimedatensuring uniformityintheimplementationofPSD2seeE.Cervone,TheEuropeanBankingAuthorityinLightoftheCJEUJurisprudence: ...
The Regulatory Technical Standards (RTS) on Strong Customer Authentication and Common and Secure Communication came into force under Payment Services Directive 2 (PSD2) on Saturday 14 September 2019. While this is a welcome development, payment service providers should be aware that there are still ...
PSD2, since its inception, has undergone various iterations to meet the changing landscape of digital payments. A key milestone was the adoption of the Regulatory Technical Standards (RTS) in 2019, which outlined specific requirements for strong customer authentication (SCA) and secure communication. ...
The European Banking Authority (EBA) has been tasked with specifying" Regulatory Technical Standards" (RTS) for authentication (Article 98) that define how to implement the security obligations imposed on PSPs. RTS mainly focuses on SCA, exemptions to SCA, and open communications between ASPSPs, ...
For reference, here are the regulatory technical standards that are specified in PSD2: Requirements for strong customer authentication Situations that are low risk enough to be exempt from requiring SCA Security measures that help protect the confidentiality and integrity of personalized security credential...
Internet banking security is set to take a major step forward: On September 14, 2019, the Regulatory Technical Standards of the Revised Payment Service Directive (PSD2) are going to be effective within the European Union and the European Economic Area. This regulation makes two widely demanded ...
Insights The European Commission has adopted the final Delegated Regulation supplementing the second Payment Services Directive (PSD2) with regards to regulatory technical standards (RTS) setting technical requirements on development, operation and maintenance of the electronic central register within the ...
Part of the reason that this is the current status when it comes to APIs is because the Regulatory and Technical Standards (RTS), which apply to PSD2, left room for too many different interpretations and created several unintended consequences, which no one could foresee at the time...
Member states had two years, ending in January 2018, to implement the changes in their national laws. In June 2017, the European Banking Authority responded to the European Commission with a final draft of the Regulatory Technical Standards (RTS) on Strong Customer Authentication and common and ...
The Strong Customer Authentication (SCA) regulatory technical standards (RTS) require two of three elements to be met in order for authentication to be successful. These three elements are inherence, possession, and knowledge. Or in other words, something the user is, something they have and some...