The SCA deadline is almost here. Are you ready?
SCA deadline is almost here. Are you ready? Your customers need you to be! Strong Customer Authentication becomes a legal requirement on all electronic payments in the European Economic Area (excl. the UK) from 31 December 2020. The UK goes live with SCA on 14 September 2021. FIS Worldpay can help you understand and action all of the information below. Please contact me and my team via mat.everitt@fisglobal.com
NOW is the time to make sure that you are ready. You should be live testing SCA solutions NOW to make sure you are prepared. Your year-end code freezes make this all the more important.
LEGAL DEADLINES are not the only dates affecting you. Regulators told issuers in Belgium and the Netherlands to start ramping up SCA from last month (in the form of soft declines) – you need to be handling these correctly. The schemes have also kept up the pressure, announcing a series of changes to 3DS1 to encourage merchants to switch.
3DS2 IS MATURING – but there is still some way to go. 3DS2 is the latest and best way of performing SCA on cards. It can also be used to authenticate payments globally, reducing fraud anywhere in the world. Our FIS Worldpay 3DS2 solution, 3DS Flex, has been live since August 2019. 3DS Flex is now processing more than 3 Million authentications each month, which has doubled since July and is growing all the time. We have over 200 customers boarded across the world, and are adding dozens more each month.
Our primary focus this year has been product performance. 3DS2 is new for everyone – merchants, issuers, schemes and FIS. 3DS2 data (challenge rates, drop of rates, authorisation rates) is improving all of the time, and in places like the UK and Ireland performance is now CLEARLY ABOVE 3DS1.
However, the story is NOT UNIFORM – in countries like Spain and Italy issuer rollout has been challenging. Industry experience has also shown an increased number of issues with Mobile SDK implementations (issuer side), which will need to be tested extensively.
With 3DS FLEX, we are navigating these uncertainties and we have put rules in place to route transactions away from issuers with poor 3DS2 performance. Our Product, Implementation and Optimisation teams are all working together to support merchants through this transition. If you wants to go live on 3DS soon, please get in touch.
EXEMPTIONS ARE HERE. Our Exemption Engine product – helping customers avoid full SCA for a range of their low risk and low value payments - is now offering exemptions in authorisation, with exemptions in authentication being released in Q1 2021.
My name is Mat Everitt and my team want to speak with you
My name is Mat Everitt and I am proud to lead a team of spectacularly committed and expert professionals within the Strategic Sales Team at FIS Worldpay.
Whatever you need to achieve in face to face or online payments, anywhere in the world, we can help you to achieve MORE! Our mission is to help businesses and communities thrive by advancing commerce and the financial world.
While our work is often behind the scenes, we keep global commerce and the financial world running for our clients. It is a heavy responsibility and an incredible opportunity. It’s in times like these, when the world is so unsettled, we work to make the biggest difference for you.
Why you should work with FIS Worldpay
FIS serve 90% of the top 50 largest global banks
FIS serve 90% of the top 20 Private Equity firms
FIS are the world’s largest acquirer with double the volume of the 3rd and 4th leaders combined
FIS move $9T around the globe annually, process 75B transactions across the world and serve 1.3B cards worldwide.