PSD2/Regulatory Technical Standards (RTS) on Strong Customer Authentication and Secure Communication, and IFR/RTS on separation of payment card schemes and processing entities

22-11-2017

The monthly scrutiny slot at the ECON meeting of 21 November 2017 focued on the Regulatory Technical Standards (RTS) specifying the requirements on strong customer authentication and common and secure communication under PSD2 which the Commission is about to adopt. These RTS have been previously discussed in ECON scrutiny slots and are the most sensitive PSD2 level-2 measure on which the industry has voiced concerns. The end of the session was dedicated to the RTS on separation of payment card schemes and processing entities under Article 7(6) of the Interchange Fees Regulation (IFR) which has recently been adopted - also with changes in regard to the draft of the EBA. Representatives from the Commission, EBA and ECB have been invited to the meeting.

The monthly scrutiny slot at the ECON meeting of 21 November 2017 focued on the Regulatory Technical Standards (RTS) specifying the requirements on strong customer authentication and common and secure communication under PSD2 which the Commission is about to adopt. These RTS have been previously discussed in ECON scrutiny slots and are the most sensitive PSD2 level-2 measure on which the industry has voiced concerns. The end of the session was dedicated to the RTS on separation of payment card schemes and processing entities under Article 7(6) of the Interchange Fees Regulation (IFR) which has recently been adopted - also with changes in regard to the draft of the EBA. Representatives from the Commission, EBA and ECB have been invited to the meeting.