PSD2: The Perks and Pitfalls of the Payment Services Directive

Chargebacks911® Weighs-In on the Affects of PSD2 for Business Tech Firm

We at Chargebacks911 are leading experts in the payments industry. As such, we try to offer insight on new and disruptive change in the field—like the new PSD2 initiative—whenever possible. In our new guest feature for the Altexsoft blog, we examine how the new rules will shake up the industry, and what effects merchants should expect as a result.

Altexsoft is a travel and hospitality consulting company. They work with OTAs, travel management solution providers, and tech startups to build custom software and address the needs of today’s travel market.

The PSD2, or Revised Payment Services Directive, is perhaps the biggest payments industry story of 2019. The new regulations impose Strong Customer Authentication (SCA) standards on merchants operating in the EU. At the same time, the law also opens the European payments market to competition from third-party payments services.

It’s hard to say anything for certain about the long-term ramifications of PSD2. While stronger authentication is welcome, the provisions could create new vulnerabilities, too.

Check out the full post below: