Strong customer authentication: great changes in the e-commerce market

The countdown has started: on 14 September strong customer authentication (SCA) rules enter into force in Hungary too.

 This will make an impact on every player in the e-commerce market. On 9 May Ecommerce Hungary and Mastercard organsied a workshop to discuss the preparation for SCA, possible problems, challenges and solutions. The objective of strong customer authentication is to increase the safety of bank card and online payments, in both offline and online retail.

At the workshop Máté Nemes, product manager of Mastercard pointed it out that Hungary is lagging behind as regards SCA, as less than 20 percent of transactions are authenticated in severel steps. Boris Martinovic, public policy director or Mastercard stressed that bank card users are spending much more than cash payers. László Szetnics, business development director of Mastercard spoke about the latest technological solutions in the card payment segment.Tamás Racskó, business developemnt manager of Mastercard introduced the MoneySend payment method.

The website erosugyfelhitelesites.hu helps to prepare for the changes as of 14 September, together with Ecommerce Hungary’s manual for retailers, which will be published in mid-June. //