Online payment will be safer

The European Commission has adopted new rules to make transactions with credit cards safer and to make electronic payments made online more secure, to reduce the scale of payment fraud and to protect the users’ confidential data – tozsdeforum.hu. quoted the communication of the EU Commission.

These rules implement the EU’s recently-revised Payment Services Directive (PSD2) which aims to modernise Europe’s payment services so as to keep pace with this rapidly evolving market and allow the European e-commerce market to blossom. Today’s rules allow consumers to use innovative services offered by third party providers, also known as FinTech companies, while maintaining rigorous data protection and security for EU consumers and businesses. These include payment solutions and tools for managing one’s personal finances by aggregating information from various accounts. (tozsdeforum.hu, MTI)