Markit Fully Compliant with SCA Requirements
As of September 14, 2019, Strong Customer Authentication (SCA) requirements, part of the revised EU Revised Payment Services Directive (PSD2) regulations, mandate that additional authentication measures be performed on applicable online transactions in the EEA.
The majority of Markit clients pay on invoice received, but there are occasions when some clients need to use a credit card to pay for their IT products. Those clients will be pleased to know that Markit upgraded accordingly and is fully compliant with SCA requirements. The upgrade ensures that all electronic payments are performed with multi-factor authentication, to increase payment security.
Not only does our Braintree payment gateway meet the SCA requirements, at the same time we redesigned the relevant part of the checkout process to make it more user-friendly too.
For a quick reference overview of PSD2 Strong Customer Authentication please read: Understanding SCA Requirements and the Benefits of 3D Secure 2.0 provides some background on SCA requirements as well as information about 3D Secure 2.0 (3DS 2.0), an industry-standard approach to meeting them, that is helping Markit stay ahead of the changing European regulatory landscape.