This week, several members of our team flew across the pond to attend MRC London! While it’s always exciting to travel to a foreign country, this conference also offers us an opportunity to stay up-to-date with some of the most important news items in the digital payments industry.
Perhaps the most pertinent topic discussed, considering the location, was PSD2 and, more specifically, PSD2 SCA. We have been talking about PSD2 for months and have been stressing the need to prepare ahead of the upcoming September deadline. But since this mandate is being strictly enforced in the European Economic Area (EEA), it’s more of a hot topic for merchants over there.
Yesterday, there were three separate PSD2 workshops, all touching on a different aspect of this mandate. These workshops were organized as panels, with several different experts offering different insights on PSD2. The first one consisted of some regulatory professionals and dealt with the regulator’s perspective on this mandate.
The focus of the second workshop was fraud prevention within PSD2 SCA. Our very own Bassam Chamaa was one of the experts sitting on this panel, and he had the opportunity to discuss a lot of important, exciting topics, including the aftermath of the PSD2 SCA deadline, as it relates to authorization rates, how the consumer experience may vary by issuer with this mandate, the exemption landscape and much, much more.
The third PSD2 SCA workshop of the day was a more wide-ranging conversation, as it touched on the overall effect of this mandate and the impact it will have on merchants, issuers and consumers.
We greatly enjoyed our time at MRC London, and were able to learn a lot and, hopefully, educate many others about vital topics, notably PSD2 SCA. Up until the September deadline, this mandate will continue to dominate the conversation.