Online retailers risk losing £3.64m daily as SCA becomes mandatory

online retailers SCA
Online retailers who are not set up for Strong Customer Authentication (SCA) risk losing £3.64m every day as the two-factor authentication becomes mandatory today, Monday 14 March.
// Online retailers who are not set up for Strong Customer Authentication (SCA) risk losing £3.64m every day as the two-factor authentication becomes mandatory today, Monday 14 March.
// Some 43,000 transactions a day were declined at the point of sale last month – worth £102m in total.

The move – which has been designed to reduce the £376m lost to online fraud in 2020 – is the biggest change to payment systems since Chip & Pin first rolled out 16 years ago.

Read the full story on Charged Retail.

Click here to sign up to Retail Gazette‘s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here