Leeds, 14th August 2019: As a Nochex merchant you will know that all the payments you receive via our service are protected by 3D Secure payment (3DS) authentication. 3D secure payment is a set of rules laid down by the card schemes, Visa and MasterCard, to protect merchants and consumers from online fraud.
You might also be aware that 3DS was due to be upgraded. The improvement – known variously as Strong Customer Authentication (SCA), 3DSecure2, and the Second Payment Services Directive (PSD2) – was due to come into force in the UK on 14 September 2019.
However, due to a lack of readiness among retailers, banks, consumers and regulators, the deadline has been put back until February 2021. In the UK the Financial Conduct Authority (FCA) is responsible for the smooth running of SCA.
Commenting on the delay, Robert Millington, Head of Risk & Supervision at Nochex said “The FCA has been working with the industry to make it harder for fraudsters to operate. We believe that these measures will reduce fraud, but the FCA want to make sure they don’t cause disruption to consumers.”
Like 3D secure payment users of Nochex will be largely unaffected by the introduction of SCA. Due to the distinct way the service works, all the changes needed can be done within the Nochex platform.
“One of the main reasons SCA has been delayed is because of the amount of work that online merchants need to do to upgrade their systems”, says Millington. “Uniquely, Nochex can make these changes without any input from merchants – saving them time and money – while still letting them benefit from the new security features. When the FCA is ready to implement SCA, we will be ready too”.
3D Secure payment is a standard developed by the card schemes Visa and MasterCard to improve the security of Internet payments. Read more about how 3D secure for safer payments can secure your payments here.
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