MoneyTigo Online Credit Card Payment Solution and Gateway


After being postponed, the new European directive on payment services (known as PSD2) should be operational on January 1, 2021. It introduces strong authentication. But the sector is concerned about the dysfunctions observed during the migration.

In 2019, bank card fraud increased again (+7%) for a total of 470 million euros, according to figures from the Banque de France. The card “still represents the overwhelming majority (97%) of the number of fraudulent transactions”, and these frauds are mainly carried out on the Internet. Remote payment fraud has increased by 10% in value over one year.

The old protection methods, in particular the widely used 3D-Secure system (which consists of sending an authentication SMS code), are now obsolete. This is one of the reasons why the European Union has imposed on e-retailers and banks a more protective system, based on the validation of transactions by fingerprint, facial recognition or via the iris on a smartphone through the mobile application of its bank, what is called strong authentication.

These new provisions are part of the second European directive on payment services (known as PSD2). This new directive should come into force on January 1st of this year after a first postponement to give the players (banks and e-merchants) time to prepare.

Ecosystem preparation delayed due to containment

However, “in the context of sanitary confinement from mid-March to mid-May 2020, the deployment of mass equipment plans had to be delayed, both on the consumer side and on the merchant side,” explains the BANQUE DE FRANCE.

The market players have been invited to actively resume migration actions from June 2020 in the best conditions“, insists the Banque de France.

But three months before the deadline, where are we? According to our information, some major retailers are worried about the lack of load tests, important dysfunctions and an infrastructure that could fail.

And to fear massive refusals of transactions/payments between the online merchant and the customer due to malfunctions related to the new banking authentication device.

(Rest assured! MoneyTigo is already compatible with 3DSecure V2), no complication will be expected …