The Payment Services Directive 2 (PSD2) is a revised regulatory framework for payment services, initiated in 2018 by the European Commission. The goal of the new framework is to enforce better security of payments for transactions that take place on European territory.
The most important changes generated by PSD2 involve: mandatory enforcement of better security for EU payments, through the use of online SCA (Strong Customer Authentication); decentralization of bank's monopoly on users' data, by allowing users to give access to their data to third party providers; and an updated treatment for recurring transactions.
Download our online guide and find out how the new PSD2 framework impacts your ecommerce business and how 2Checkout handles this directive for our clients.
About 2Checkout (now Verifone)
Verifone is the payments architect shaping ecosystems for online and in-person commerce experiences, including everything businesses need - from secure payment devices to eCommerce tools, acquiring services, advanced business insights, and much more. As a global FinTech leader, Verifone powers omni-commerce growth for companies in over 165 countries and is trusted by the world's best-known brands, small businesses and major financial institutions. The Verifone platform is built on a four-decade history of innovation and uncompromised security, annually managing more than 12B transactions worth over $500B on physical and digital channels.
Verifone's 2Checkout platform is an all-in-one monetization solution helping clients drive global sales growth across online channels. Its digital services, including global payments, subscription billing, merchandising, taxes, compliance and risk, help clients stay focused on innovating their products while delivering exceptional customer experiences.
Get more information at 2Checkout.com
