What DIRECTIVE (EU) 2015/2366 on payment services in the internal market - Article 63 requires
This article establishes the requirement for payment service providers to apply strong customer authentication measures to enhance the security of electronic payments and protect consumers from fraud.
Pillar: Banking & Global Finance · Authority: European Parliament and Council of the European Union · Version: 1.0.0 · Last updated:
Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366
SHA-256 integrity: 6dc18231b26db2a714a6d924f63a8f783d5d489731eeecf365dc24ad87020dc4
Primary Citations — 5 traced to source
- Recital 3: ...the retail payments market has experienced significant technical innovation, with rapid growth in the number of electronic and mobile payments and the emergence of new types of payment services in the market place, which challenges the current framework.
- Recital 4: This has resulted in legal uncertainty, potential security risks in the payment chain and a lack of consumer protection in certain areas.
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