EBA Extends EU-Wide Deadline for New Payment Security Rules
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The European Banking Authority (EBA) have pushed back the deadline for the migration to Strong Customer Authentication (SCA) standards across Europe until 31 December 2020, giving national authorities a 15-month extension to implement the new rules.
EBA have acknowledged a lack of clarity around the complex requirements and the importance of a harmonised approach across Europe in issuing this extension. In the upcoming year they urge regulators to focus on monitoring migration instead of persuing enforcement actions.
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