PSD2 continues to transform online payments. Proactive merchants are identifying fresh opportunities to innovate and are taking control of the data that drives their businesses. One significant area of opportunity in 2020 is strong customer authentication (SCA), which is set to become a requirement for most online transactions by the end of this year.
Payment Card Industry (PCI) requirements are a minefield of acronyms and, for many merchants, it can be difficult to understand exactly what they need to do to ensure they are compliant. In brief, the PCI standards are a set of security compliance frameworks that merchants must maintain in order to take physical and/or digital card payments either in store, online or on their mobile. Without PCI compliance, merchants will not be able to work with an acquirer and may also be fined by the card schemes such as Visa or Mastercard.