What is Strong Customer Authentication? (SCA)
www.collectorcoins.ie now applies extra security checks to transactions. This is called Strong Customer Authentication (SCA). SCA is a new European regulatory requirement that is intended to reduce fraud and make online payments more secure. SCA is part of an EU Directive, Payment Services Directive (PSD2) and is a mandatory requirement in the EU for online sales platforms. This extra level of authentication aims to protect consumers when they pay online.
The principle of SCA is to increase security for electronic payments through the use of two factor authentication protocols. This is a security process that customers will encounter when completing online transactions. When completing the transaction customers may be asked to verify their identity in two different ways, such as with a password and a fingerprint.
How is SCA applied?
A customer’s identity is authenticated using at least two of the following factors, each of which are independent of each other:
- Knowledge – something only you know, - a password or a PIN
- Possession – Something you have - a payment card or mobile phone
- Inherence – Something you are - fingerprint, face or voice recognition
What does this mean when purchasing products on our website?
When making purchases on our website customers may now be asked to provide extra security information when completing the transaction. To ensure they can continue purchasing from our website, customers should ensure they are correctly registered for SCA and that their details are correctly set up with their own bank.