Payments Sector Wins Open Banking Reprieve with 18 Month SCA Extension

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The payments and ecommerce industry has won a last minute reprieve from the Financial Conduct Authority (FCA) over Strong Customer Authentication (SCA) rules: earning 18 months more to introduce new payments security measures required under Europe’s PSD2 directive, which were set to come into force on September 14.

The move comes just four weeks before the PSD2 deadline and amid increasingly vocal concern from an industry – that critics say was caught napping – about its lack of readiness for SCA, as well as initial resistance from European regulators.

The extension follows a late-June opinion from

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