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Guiding you through PSD2

The European Union introduced the Payment Services Directive 2 (PSD2) to make payments safer, increase consumer protection, foster innovation and competition. PSD2 is enshrined in law in most EU member state countries.

Read our PSD2 guide

Get your business ready for PSD2  Request a call back

Are you ready for PSD2? 

Here’s a video to help you to understand that is happening and the impact on your business

PSD2 SCA – Update 16 October 2019

The European Banking Authority (EBA) has announced today that the period for the implementation of Strong Customer Authentication (SCA) under Payment Services Directive (PSD2) will be 15 months, from the 14 September 2019. Strong Customer Authentication (SCA) must be applied to all electronic payments within the European Economic Area (EEA) by 31 December 2020.

The EBA have acknowledged the complexity and challenges in the payments environment in Europe. To help manage the difficulties the EBA have granted flexibility to the National Competent Authorities (NCAs). The additional time is needed to ensure that all the stakeholders in the ecosystem; banks, acquirers, gateway providers and merchants equip themselves with the relevant tools to fully implement PSD2. They must deliver on time and minimise impact to consumers.

During the extension period, the EBA and the European Commission (EC) will be particularly vigilant in monitoring the implementation of the directive. All players including NCAs must participate fully and assume all their supervisory responsibilities. Each player must produce and execute their migration plans in an expedited manner.

Elavon has advocated for a pan-European migration plan that is consistent, harmonised and effective across all member states. However, several NCAs have taken different approaches to date, so there is a risk of differences in implementation. If that happens, it could be difficult, expensive and time-consuming for merchants and payment providers to customise their solutions

At Elavon we will be working with the relevant NCAs to complete our migration plan. We are intensifying our communications and knowledge sharing with customers and partners.

What does this mean for your business?

We are pleased to report very little disruption with the introduction of PSD2 SCA. This announcement by the EBA means that NCAs will not take any enforcement actions against any impacted entities, provided the entities are executing on their migration plan and meeting each of their individual milestones.

Our aim is to enable you to carry out SCA to meet the regulations with the acceptance of 3D Secure V2 via our upgraded platforms. To deliver a smooth transition, we actively engage with all our partners and gateway providers that connect to our acquiring platform.

Meeting PSD2 SCA obligations is our top priority. Our team of experts are ready to help you optimise your customers’ experience while avoiding payment declines and lost sales.

Actions you must take?

This is a one-time implementation window and will not be extended beyond 31 December 2020.

Avail of this limited time to ensure that your eCommerce payments are ready to be authenticated using 3D Secure V2. If you have 3D Secure V1 in place, upgrade to 3D Secure V2. This is a simple upgrade and your payment gateway provider will assist you with the details.

If you have not used 3D Secure before, it might involve more work for you or your developer. Do not delay, it is important that you speak with your gateway provider or web developer to understand what is involved.

We will continue to share further details with you as we receive and digest them. In the meantime, if you have any questions relating to the above, please speak with your Relationship Manager or our customer services team.

Get your business ready for PSD2

We are committed to supporting your business in preparing for and complying with PSD2.

Request a call back