Trans-European automated real-time gross settlement express transfer and Transaction risk analysis: Difference between pages

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(TARGET).  
''Payments - PSD2 - Strong customer authentication (SCA) exemptions''.


A payment system composed of one real-time gross settlement (RTGS) system in each of the countries of the European Union (EU) plus a number of non-EU countries and the European Central Bank (ECB) payment mechanism.  
(TRA).


Transaction risk analysis is an exemption to the requirement for Strong Customer Authentication under PSD2.


The domestic RTGS systems and the ECB payment mechanism are interconnected according to common procedures (interlinking) to allow cross-border transfers throughout the EU to move from one system to another.
 
Under the TRA exemption, a transaction can be flagged as a low-risk-transaction if:
 
* the fraud rate of the related payment service provider (PSP) is below a certain threshold, and
* a real time analysis has not revealed any risk.
 
 
If the issuer agrees, the individual card-based payment or credit transfer can be exempted from Strong Customer Authentication.




== See also ==
== See also ==
* [[Gross settlement system]]
* [[3D Secure]]
* [[Interlinking]]
* [[Credit transfer]]
* [[Payments and payment systems]]
* [[Issuer]]
* [[Real-time gross settlement system]]
* [[Payment service provider]]
* [[TARGET2]]
* [[PSD2]]
 
* [[Regulatory Technical Standard]]
* [[Strong Customer Authentication]]
* [[Transaction]]
* [[Transactional]]
* [[Two-factor authentication]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Cash_management]]
[[Category:Cash_management]]
[[Category:Financial_products_and_markets]]

Revision as of 11:27, 14 July 2022

Payments - PSD2 - Strong customer authentication (SCA) exemptions.

(TRA).

Transaction risk analysis is an exemption to the requirement for Strong Customer Authentication under PSD2.


Under the TRA exemption, a transaction can be flagged as a low-risk-transaction if:

  • the fraud rate of the related payment service provider (PSP) is below a certain threshold, and
  • a real time analysis has not revealed any risk.


If the issuer agrees, the individual card-based payment or credit transfer can be exempted from Strong Customer Authentication.


See also