Stricter payment requirements in Europe could drive fraud elsewhere

From September this year the second Payment Services Directive (PSD2) comes into force across the EU. This will require payment service providers to offer strong customer authentication (SCA) and third-party access to bank accounts or risk losing their their payment provider license. But a new report today from fraud prevention company iovation suggests that stricter requirements for fraud prevention in Europe will drive fraud to other regions such as the US. The study, carried out with research firm Aite Group, also shows that with just six months to go most companies are still unprepared for PSD2. In fact, a recent… [Continue Reading]