PSD2 APIs and the risk of fraud

Card-not-present (CNP) fraud is a big problem and is getting worse. It is possible its severity and the way it is outpacing ecommerce growth have influenced the drafting of the PSD2 and EBA RTS and defining the required levels of customer authentication and exemptions. Indeed, I attended an event recently where CNP fraud statistics were used to emphasise the need for payment security regulation in the PSD2.

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