myPOS terminal - mobile credit card reader

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PSD2 & SCA

  • 1. What are PSD2 and SCA?

    PSD2 or Payment Services Directive 2 is legislation, which has been in force since September 14, 2019. PSD2 is especially important in the world of payments as it brings a number of changes that aim to protect consumers when it comes to online payments.

    SCA or Strong Customer Authentication is a new requirement when making card transactions face to face or in an in-store environment, under the PSD2 legislation.


    2. How does PSD2/SCA apply to the use of my myPOS business card?

    For merchants using their myPOS business card for contactless payments, you will be asked to enter your PIN when using your Visa or Mastercard in the following cases:

    • You make a single transaction above 50 EUR.
    • You make consecutive contactless payments exceeding 150 EUR in total.

    For contactless payments, which do not fall under the above-mentioned categories, you will not be asked to enter your PIN.


    3. Why am I asked for my PIN when making contactless payments with my myPOS business card?

    Following the PSD2 legislation and the SCA requirements, all merchants will be asked for their PIN when making contactless payments in the following cases:

    • You make a single transaction above 50 EUR.
    • You make consecutive contactless payments exceeding 150 EUR in total.

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