The proportion of transactions for which SCA requirements apply has been steadily increasing since the start of this year as merchants and payment service (PSPs) readied to meet the enforcement date, when all transactions must be SCA-compliant.

As increasing amounts of purchases are being made digitally, it is hoped SCA will help reduce fraud and better protect customers and their money when shopping online, according to a release from the British Retail Consortium.

Customers will now be asked to prove their identity when making a purchase, by confirming two of the following three ‘factors’: something they are, such as a fingerprint or facial ID; something they know, such as a passcode or password; and something they have like a mobile phone.

In practice, this could mean customers are asked to verify a purchase via text message, receiving a passcode which they are then prompted to enter on screen. Other confirmations could include answering an automated phone call to your landline or mobile, or through an app on your smartphone.

Some types of transactions are exempt from strong customer authentication, meaning customers may not always be asked to complete extra security steps. These may be purchases deemed ‘low-risk’ of fraudulent activity, such as when buying low-cost items, or repeated purchases such as subscriptions.

Retailers are ready for the change, having been preparing their systems for many months to process these extra security checks. Successful roll out of the new regulations will also require banks to be prepared for the changes.

Fibre2Fashion News Desk (KD)

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