PSD2 / 3D Secure 2

With PSD2 being enforced from September this year and therefore the increased number of online transactions requiring some form of 2FA, will Monzo :monzo: introduce something similar to Amex?


Is the code becoming mandatory?

It sounds like it’s going the way UnionPay works - requiring verification for online shopping.

From what I understand yes.

Online transactions over €30 (£30?) will require Strong customer authentication (SCA) / 2FA with a few exceptions. Exceptions around the level of fraud and subscripts (RCP). Also every 5th low value transaction will require SCA.

Customers can maintain a whitelist to skip 3D secure which is what Amex is offering. Would be good if Monzo did the same.

I can imagine if you shop online at the same place (Amazon ?) going through SCA would waste a lot of time.