What is PSD2? PSD2 is short for the second Payment Services Directive, which is a new directive in the EU which goes into effect on September 2019. These new regulations are meant to:
Create a more unified European payments market Make payments safer and more secure Protect consumers It requires any non-recurring online transaction over 30 EUR within the EU to have improved, secure, two-factor authentication. This applies even if one party (payer or payee) is not in the EU when the purchase takes place.
What is two-factor authentication?
Two-factor authentication is a security mechanism that requires two types of credentials for authentication to minimize security breaches. In this context, if a consumer makes an online purchase over 30 EUR, he or she must confirm the purchase with a combination of two different types of identification factors. Identification factors are categorized as:
Knowledge – something only the person knows, such as a password, secret question, PIN, authentication key Possession – something in the person’s possession, such as a mobile phone or a smart chip Inherence – something characteristic of the person, such as biometric data like fingerprints or face ID What does it mean for my hotel/hotel chain?
PSD2 compliance with apaleo
apaleo uses Adyen as a payment service provider and thus offers all possibilities to design the payment page in such a way that it complies with the requirements of the PSD2. If you are using a third-party booking engine, please contact the third-party booking engine and clarify their compliance with the requirements of the PSD2.