E-Commerce.  Strengthening the security of your online payments, starting this weekend

Faced with an explosion of fraud (20 times higher online than in local stores), bank card issuers, banks, payment operators, online merchants, etc. have been required since Saturday to deploy a device known as “strong authentication” to a customer during payments Electronic or sensitive banking operations.

This consists of requiring two security standards to be validated by the customer during online payment: the use of a single code received by SMS will no longer be sufficient and will have to be gradually enhanced by new solutions.

Several alternatives

Concretely, when paying online, the customer on a pre-identified phone will receive a notification inviting him to authenticate, either by entering a personal code, or by taking a biometric fingerprint of equipped mobile phones (fingerprint, facial recognition, or iris recognition). .

“For customers who do not have a smart phone, banks offer alternative solutions such as using one-time SMS messages along with a password that the customer knows, or using a physical device. Dedicated,” confirms the Banking Union.

Progressive implementation

The strong authentication really relates to sums in excess of € 500 since February 15, € 250 since March 15 and transactions over € 100 since April 15.

Thus, gradually from this weekend, and finally after four weeks of adjustment, banks will be able to reject any non-compliant transaction.

However, online merchants may request an exemption from strong authentication under certain circumstances. For example, transactions that are less than 30 euros or are considered low-risk, such as regular payments of subscriptions or directed to a beneficiary previously authorized by the consumer in his banking application.

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