The EBA published a Discussion Paper on secured payment transactions

The European Banking Authority (EBA) recently published a Discussion Paper on Strong customer authentication and secure communication.
By January 2017, Regulatory Technical Standards (RTS) will be delivered by the EBA. The purpose of this discussion paper is clearly defined : “Prior to starting the development of these requirements, the EBA is issuing a Discussion Paper, with a view to obtaining early input into the development process. Responses can be submitted until 8 February 2016.”

The technical standards (RTS), will be developed in close cooperation with the European Central Bank (ECB), will specify :

• the requirements of the strong customer authentication
• the exemptions from the application of these requirements
• the requirements to protect the user’s security credentials
• the requirements for common and secure open standards of communication
• the security measures between the various types of providers in the payments sector

As leader in the payment industry, Nuapay are constantly offering the highest levels of security and authentication according to the European Authority Standards and considering a frictionless payment experience.

For more information, consult the EBA Discussion Paper here.