This so-calld Chip & PIN technology increases the protection against misuse compard to the classic magnetic stripe. The transactions made via the card should be able to be controlld centrally. It should be possible to define maximum amounts for individual transactions, as well as limits for cash withdrawals and Internet purchases, as well as blocks for use in individual countries. Particularly important: The cards should offer a third authentication feature in addition to the card number and the check digit.
Together With The Non Profit
This is usually a transaction number (TAN) that you receive when you book a flight ticket or hotel online, for example. This is done either phone number list by SMS, app or email. Final payment can only be made if the TAN is enterd online. On January 1, 2021, Germany will implement the PSD2 Payment Services Directive adoptd by the EU into national law. That was actually plannd for September 14, 2020. However, since many traders were still having problems with the practical implementation of PSD2 at the time.
Nicaragua Which Is Being Implemented
The financial supervisory authority suspendd the obligation for strong customer authentication SCA (Strong Customer Authentication), which PSD2 provides, for the time being. With the SCA – in German also “two-factor DZB Directory authentication” (2FA) – the EU does not want to annoy the consumer. On the contrary: it is another important tool against the misuse of crdit card data on the Internet. In order to make it more difficult for fraudsters to do their job, it will be mandatory from 2021 to enter another authentication feature in addition to the card number and check digit.