What is PSD2?
The 2nd European Payment Services Directive (PSD2) is a set of changes that regulates electronic payments across the EU and affects Payment Service Providers, Merchants and Consumers.
PSD2 requires, among others, enhanced measures to improve the security level of electronic payments in order to further protect the user of payment services from potential fraud.
Under this scope, a new requirement for Strong Customer Authentication (SCA) has been introduced.
How PSD2 affects the card payments?
In the framework of the 2nd European Payment Services Directive (Payment Services Directive 2 - PSD2) which requires enhanced security measures for electronic transactions, you may be asked to enter the card's PIN for payments under the country's contactless limit (for example 100£ in the UK).
Specifically, in contactless transactions, that exceed the limit of 100£ you will be required to insert your card in the chip reader and enter your PIN.
How PSD2 affects my online payments?
In the framework of the 2nd European Payment Services Directive 2 (PSD2), which requires enhanced security measures for electronic transactions, during an online transaction and if you have completed all the required fields, you will receive a push notification to your enrolled mobile device.
You should log in to your Viva Wallet app by using your mobile device’s biometrics or PIN and authorize the online transaction request.