What is PSD 2?
PSD 2 aims to create a uniform legal framework for electronic and mobile payment initiation service providers and account information service providers.
What does PSD 2 change?
Here’s a summary of the most important changes in the General Business Conditions for Card Acceptance:
- Removal of the ban on granting discounts to cardholders
The ban that prohibits merchants from granting cardholders discounts when they forgo paying by card in favour of other payment methods has been lifted.
- Two-factor authentication
Two-factor authentication – also known as ‘strong customer authentication’ – involves the standardisation of security regulations in e-commerce. A transaction can no longer be authorised by simply entering the card details, such as number and expiry date, rather the cardholder now has to be identified by other means of authentication, for example with a 3-D Secure Code.
- Procedure for extrajudicial resolution of disputes
In disputes between SIX Payment Services and the merchant, the competent authorities arbitrate between the parties and try to bring them to an agreement.
Please find below the respective General Business Conditions with the amendments regarding PSD 2 (highlighted text). Please note that only these highlighted text sections apply to your General Business Conditions.
- Allgemeine Geschäftsbedingungen für die Kartenakzeptanz - Version 05.2018 (EULUX)
- General Business Conditions for Card Acceptance - Version 05.2018 (EULUX)
- Conditions générales régissant l’acceptation des cartes - Version 05.2018 (EULUX)
- Condizioni generali per l’accettazione delle carte - Versione 05.2018 (EULUX)
- Všeobecné obchodní podmínky pro přijímání karet - Verze 05.2018 (EULUX)
- Algemene voorwaarden voor kaartaanvaarding - Versie 05.2018 (EULUX)
- Opći poslovni uvjeti za prihvaćanje kartica - Inačica 05.2018 (EULUX)
SIX Payment Services guarantees all-round acceptance, enabling your customers to pay with any major credit or debit card or a mobile payment service of their choice. We are also adding new services all the time. This enhances customer satisfaction and increases the chance of impulse buys.
At SIX Payment Services, there is no such thing as limitations. Our comprehensive range of services is tailored to meet your exact requirements when it comes to reliable cashless payment processing. Our value-added solutions are designed to make your customers’ shopping experience the best it can be while helping your turnover reach new heights.
Whether you’ve just launched your first web store or are a long-standing e-commerce service provider, SIX Payment Services is your go-to specialist for online payments – it has a broad range of services to help give your business a boost on the world wide web.