SCA – what does this mean for you?

               

If you are one of our Influencers – nothing. Congrats, you have just saved 2 minutes – why not play Pac Man!

If you are one of our advertisers – you may not notice any changes tbh!

Is CI ready?

Yes.

We did the technical API work during the summer ’19. But as the national implementation deadline gets closer it may become something you hear about more and more.

CI’s payment gateway is powered by Stripe and we updated to their revised API.

What is SCA?

Strong Customer Authentication is the way your bank or payment services verifies your identify when you make an online payment.

It is meant to enhance security of payments and limit fraud.

When will SCA be enforced?

Although the SCA requirements officially went into effect on the 14th of September 2019, to date, few European banks have begun strictly enforcing it.

Following a new announcement by the European Banking Authority (EBA), the new expect has been put back to 31st December 2020 for most European card issuers, and by 14 March 2021 for UK specific cards.

Our provider (Stripe) is expecting that from March 2020 onwards the majority of banks will start to enforce it.

What does this mean in practice?

If your bank/card is a new fintech style e.g. Revolut, Monzo and the like you may need to authorise in their app. If you are using a major high street retail provider you may need their app, you may need a pin number of some authenticator or even their accompanying card/pin authenticator machine. Many corporate cards may have whitelist of suppliers already.

To be frank, nobody knows fully yet. Many of use are already done it without knowing. Just make sure the billing address and the card match! If you have any trouble let us know.