Strong customer authentication’s start won’t be trouble-free
The date is approaching fast: on 14 September strong customer authentication (SCA) rules will enter into force in Hungary. It can already be seen that the system’s launch won’t be free from problems. In the last few months many countries reported to the European Union that online retailers and the online payment systems that serve them (and the service provider banks) aren’t fully prepared for the introduction of two-factor authentication.
The EU has commissioned the European Banking Authority (EBA) with making the final decision about the system’s introduction. On 21 June 2019 EBA published an opinion, which says that the relevant authorities of member states can decide whether to postpone the start of SCA. In Hungary the central bank (MNB) has the right to decide. Mastercard opines that an 18-month transitional period would be ideal. //
Related news
This is how the Hungarian fans spent at the venues of the national team’s matches
The cities of the European Football Championship in Germany devoted…
Read more >MONEY.HU: Hungarians are optimistic about their financial situation
According to the latest quarterly population survey of the Magyar…
Read more >MNB vice president: there is no green transition without central banks
The energy transition is one of the world’s greatest challenges…
Read more >Related news
Large companies are resistant to economic uncertainty
Restrained expectations characterize the domestic corporate sector for the next…
Read more >Company trend in 2024: a more positive half-year, but still a negative message
The lowest number of companies in the last five years…
Read more >The Hungarian Marketing Association for the supply of the profession
The Hungarian Marketing Association is actively working for the future…
Read more >