Ding unveils PSD2 compliant OTP prototype
As the September 14th deadline approaches, we thought we would take a look at the second Payment Services Directive (PSD2), which is the second Payment Services Directive published by the European Commission (EC) in December 2015. We have been working hard here on a proof of concept for our Ding iOS App which we’re happy to share in the below video.
PSD2 is scheduled to come into effect on 14th September 2019, at which time payment service providers will need to comply with the directive and implement the technical requirements, including Strong Customer Authentication (SCA).
PSD2 requires that SCA is applied to all electronic payments – including proximity, remote and m-payments – within the European Economic Area (EEA). The SCA mandate provides for some limited exemptions that aim to support a frictionless customer experience for low risk transactions. In addition, some types of transactions are out of scope of SCA.
Ding has prototyped a proof of concept in the Ding iOS App and is currently in the process of implementing the necessary platform, website and app changes to ensure Ding is fully compliant with the Directive in advance of the September 14th deadline.
For a preview of the Ding OTP prototype please take a look at the below video.