PSD2: 2-factor authentication as of January 2021
January 2021, we are transforming our payment system and establishing strong customer authentication (SCA). For our customers, this means that they must use at least two of the three possible security factors to prove their identity for transactions in networks and applications
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.