What is PSD2?
Following on from the original Payments Services Directive, the Second Payment Services Directive (PSD2) is acting as a catalyst for introducing safer and more innovative payment services throughout Europe.
At WorldFirst, we are committed to enhancing online security for all our customers. Read on to find out how we are doing this and what it means for you.
How WorldFirst are increasing security
One part of PSD2 is a requirement to add an extra layer of security to all electronic payments, which we have sought to do whilst maintaining ease and efficiency for our customers. That’s why will be increasing the use of strong customer authentication processes (SCA) and will require customers to use two-factor authentication (2FA) to confirm their actions.
What this means for WorldFirst customers
From September 12, 2019 all WorldFirst customers who are within the EEA will be required to perform additional authorisation at the following stages online:
- Adding or managing beneficiaries
- Instructing a payment or booking a trade