Attention Chamber members – make sure your business is Payments Service Directive Compliant – in order to continue to process e-commerce card transactions.
From 8th March 2022, as part of the implementation of EU Payments Service
Directive SCA (Strong Customer Authentication), certain e-commerce card
transactions must be processed in line with the SCA standards.
Failure by the merchant to do so correctly may result in disruption for some e-commerce card transactions.
The transactions in scope for these new standards are often referred to as Merchant Initiated Transactions (‘MITs’) and include recurring transactions, transactions that involve a subscription to a service or where the cardholder is attempting to save their payment details for future
Payments service providers have continued to work with and support online service
providers and the wider e-commerce community to ensure a smooth transition and
seamless payments experience for customers and to prevent any disruption for their
business and customers.
However, it is expected that there will be a level of disruption and some merchants
may not be ready. This will mean that cardholders will experience declines on their
debit/credit cards for these transactions.
If you have a reliance on payment mechanisms of this nature in your business, we encourage you to work with your Acquirer*** to be ready for these changes.
If you are not already preparing for this change, then you should make contact with your Acquirer as soon as possible to see what changes are necessary, in order to be ready.
** The EU Payments Service Directive (PSD2) aims to increase security and reduce fraud on
***Acquirer – is the Merchant Acquirer who provides you with the service to accept Card payments in your business.
There are many Acquirers providing this service in the Irish market and they are providing this service separate to your main banking relationships, nonetheless the smooth operation of this service from 8th March onwards, must be in conjunction with the Acquirer themselves