EPIF welcomes the decision by the EBA and NCAs to grant a degree of flexibility in the practical implementation of SCA requirements.
EPIF recently held a workshop on the challenges of SCA implementation; we were impressed by the response we got from the merchant community and other payment providers and networks. In total more than 100 participants came together from across the globe to discuss the complexity of meeting the legal requirements along the whole payments chain by 14th September 2019.
Elie Beyrouthy, Chair of EPIF, commented that this Opinion by the EBA demonstrates that EU supervisors are responding to this market situation while at the same time setting an ambitious timetable that will ensure full and effective migration to these new fraud prevention standards.