On 14. September, new EU-legislation demanding Strong Customer Authentication (SCA) comes into effect aiming to increase security around online card payments in Europe. Following a dialogue with players in the Danish payment industry the FSA has decided to postpone the implementation deadline to give Danish eCommerce merchants further time to comply with these new security demands.
“I am pleased that the Danish FSA has taken stock of the potential consequences of upholding the original deadline for complying with the new rules in Denmark. Thereby, merchants who accept card payments online, will have ample time to get a compliant solution in place, that will increase the security around online payments,” says Thomas Jul, Country Director of Nets in Denmark.
Nets continuously works to increase the security around payments. Merchants, who already have implemented online security solutions, such as 3D Secure or Dankort Secured by Nets, experience that the extra layer of security contributes to reducing fraud on their web-shop.
What does this mean for Danish eCommerce merchants?
The extended deadline for implementation does not change the fact, that the SCA rules will become effective on 14. September 2019. The SCA rules still apply, but the Danish Finanstilsynet will not enforce action from this date.
Merchants, who accept online card payments, should therefore continue their efforts to implement a new solution together with their Payment Service Providers aiming to become compliant with the new rules.
Nets will, based on the announcement from FSA, inform affected customers directly about what steps they need take to implement required payment solutions that adhere to the new demands.
See the announcement from the Danish FSA here: https://www.finanstilsynet.dk/Nyheder-og-Presse/Pressemeddelelser/2019/Kundeautentifikation
*This extended deadline announced by the Danish FSA does not relate to creation of mandates in Betalingsservice or Leverandørservice.