PSD2: 2-factor authentication as of January 2021
From January 01, 2021, we are transforming our payment system and setting up Strong Customer Authentication (SCA).
For our customers, this means that they must prove their identity, for transactions on the web and in apps, via at least two of three possible security factors.
The combinations can be formed from the following factors:
1. possession (e.g., cell phone)
2. inherence (e.g., fingerprint, facial recognition)
3. knowledge (e.g., password, PIN)
Users of an online banking account are already familiar with the 2-factor procedure from the login.
With the introduction of the 2-factor authentication of the EU Payment Services Directive PSD2, we want to strengthen the general security in electronic payment transactions and improve consumer rights.