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MoFo Reenforcement The Enforcement Blog

Could Strong Consumer Authentication Weaken Consumer Demand?

Posted in Electronic Payments, Regulatory Developments

From 14 September 2019, certain electronic and remote payments must be subjected to two-factor, or “strong customer authentication”, under regulatory standards covering the European Economic Area relating to the second EU Payment Services Directive, which took effect in January 2018. Retailers are uncertain whether these new European anti-fraud measures will cause consumers to abandon online purchases. Read our client alert for guidance on transactions that might be impacted or exempt.

Read our client alert.