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2FA will be required across the EU in September (outside of some exemptions, eg a charge under €30) https://www.barclaycard.co.uk/business/news-and-insights/wh
by bboreham 7y ago
2FA will be required across the EU in September (outside of some exemptions, eg a charge under €30)
https://www.barclaycard.co.uk/business/news-and-insights/what-is-psd2 https://www.barclaycard.co.uk/business/news-and-insights/wha...
- plankers 7y agoI was about to say this won't help at all with the microtransaction problem detailed in the article, but then I read your link and found this more complete (although confusing) description of the exemption you name: >single transactions must be less than €30, up to a maximum of €100 or five transactions It's the "or" there that I don't quite understand. Does this mean that any 5 transactions can be made without 2FA as long as their cumulative total is less than €100? If so, does the system ask for 2FA after surpassing the €100 limit? Or does this mean that 5 transactions can be made as long as each is under €30? While probably helpful to families and individuals who face these sorts of issues, the explanation of the law could certainly be clearer here...
- tpetry 7y agoIts the same rules as contactless credit card payments by most banks here: after every 5 transactions you need to verify, everyone not larger than 30€ and the sum of these 5 transactions may not exceed 100€. If your next spending will break these rules you need to verify it
- jotm 7y agoLimit is 100 Euros, or 5 transactions. Reach either = 2FA. Single transaction limit is 30Eur. If higher = 2FA.