Making 3D Secure 2.0 and PSD2 happen: Worldline processed the first live transactions with Strong Customer Authentication for European merchants
Today, 9 September 2019, Worldline [Euronext: WLN], the European market leader in payment and transaction services, announces the readiness of its Acquiring and E-Commerce platforms with respect to the mandatory processing of transactions according to the new 3D Secure 2.0 standard. With live transactions performed for European retailers, e.g. in the retail sector, digital services and ticketing. Worldline proves its capabilities to support merchants in meeting the demanding new requirements of PSD2 - which officially come into effect on 14 September 2019.
With the deadline of September 14 fast approaching, the need to have the new security standard for online payments implemented is putting a weighty burden on all players within the payments industry. The new PSD2 regulations mean that from its effective date all card payments must be validated with two security features (two-factor authentication, SCA). The rules are set out in the second EU Payment Services Directive PSD2, which aims to improved card-holder protection, as well as vastly increased broadening of service possibilities for every bank’s customers. The rules apply to all online merchants within the European Union and in Switzerland.
An industry first: Worldline customers are PSD2-ready
Worldline is the first PSP and acquirer in Europe to implement 3DS 2.0 within its Acquiring platform and its e-commerce acceptance platform. Speed and expertise were the prerequisites for this successful integration to make Worldline the first provider on the continent to carry out live transactions for its customers, therefore avoiding last-minute workarounds or the threat of fines that are understood to be substantial under PSD2 rules.
Click here to read the full press release.