For EU eCommerce businesses, this episode provides a critical overview of Strong Customer Authentication (SCA) coming in September 2019. It explains how this new anti-fraud measure mandates two-factor authentication for online orders over £30, impacting checkout flows. Retailers will learn what SCA entails, its implications for customer experience, and essential steps for compliance to avoid disruptions.
Key takeaways
Implement two-factor authentication for all transactions over £30, such as password or fingerprint authentication, to comply with SCA regulations.
Proactively adjust your checkout process to integrate SCA requirements, focusing on minimizing customer friction despite the added authentication step.
Collaborate with your Payment Service Providers (PSPs) and payment gateways to ensure their systems are SCA-compliant and can facilitate the new authentication protocols.
Understand potential exemptions from SCA to strategically apply them where applicable and streamline the customer journey.
Leverage SCA compliance as a fraud prevention benefit, enhancing security for both your business and your customers.
Today’s episode is a must-listen for EU eCommerce businesses.
I speak with Mastercard's Executive Vice President of Services in Europe, Milan Gauder, about Strong customer authentication (SCA) for electronic payments which will be coming into effect in September 2019. SCA is an anti-fraud measure that will affect all orders over £30 by layering in a mandatory "two-factor authentication", which will require financial institution confirmation with a password or mobile phone fingerprint authenticatio
What does this episode say about conversion & cro?
Implement two-factor authentication for all transactions over £30, such as password or fingerprint authentication, to comply with SCA regulations.
What does this episode say about supply chain & operations?
Proactively adjust your checkout process to integrate SCA requirements, focusing on minimizing customer friction despite the added authentication step.
What does this episode say about finance & fundraising?
Collaborate with your Payment Service Providers (PSPs) and payment gateways to ensure their systems are SCA-compliant and can facilitate the new authentication protocols.
What does this episode say about conversion & cro?
Understand potential exemptions from SCA to strategically apply them where applicable and streamline the customer journey.
What does this episode say about conversion & cro?
Leverage SCA compliance as a fraud prevention benefit, enhancing security for both your business and your customers.
