Wave Systems Corp. (fka WAVXQ)

[Genz2]

FCA further delays two-factor online shopping authentication by 6 months

https://www.computerworld.com/article/3558540/fca-further-delays-two-factor-online-shopping-authentication-by-6-months.html

The UK's Financial Conduct Authority (FCA) will delay the planned introduction of mandatory two-factor authentication for higher-value electronic payments by another six months, amidst the major disruption being caused by the COVID-19 pandemic. The deadline for compliance is now 14 September 2021.

The FCA first delayed the measure in August last year, as a "plan for a phased implementation" which "gives the payments and e-commerce industry extra time to implement Strong Customer Authentication (SCA)".

The rules, which were originally due to come into place in September, officially fall under the Secure Customer Authentication (SCA) section of the Second Payment Services Directive (PSD2), which came into force in January 2018. The European Banking Authority (EBA) only issued clarity on the technical standards required in June 2018 however.

See the link above for the rest of the article.

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With on-line shopping sites like Rakuten and honey having success, a Wave comeback with Ishophere and a second authentication factor like the TPM could make e-shopping a better experience. It would be simpler and more secure for the shopper!!! This article shows just how important 2FA is!!!
Ishophere was just ahead of it's time, and now it could be winner in the market with the ubiquity of the TPM!!