With PSD2 being enforced from September this year and therefore the increased number of online transactions requiring some form of 2FA, will 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.