Once upon a time, the second Payment Services Directive required mandated the introduction of
'strong customer authentication' (SCA)
- also known as 'two factor authentication' or 'multi-factor
authentication' - for remote and electronic payment transactions from 14
September 2019. But fear that consumers will abandon online transactions, lack of industry preparation and then the pandemic have seen this rather battered can being kicked steadily further down the road. The UK's Financial Conduct Authority
has now declared the latest 'deadline' to be 14 March 2022.
This time it might be serious.
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