Anyone who buys something from a webshop will soon no longer be able to pay by simply entering their credit card number and the three digits on the back of the card. “European legislation requires extra security,” says banking federation Febelfin.
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In addition to the card details, the consumer will have to provide additional proof that the credit card used is indeed his or her. This may, for example, be a pin code or a code generated by a digipass. Buying online is therefore a bit more cumbersome “but even safer”, says Isabelle Marchand of the Febelfin bank umbrella. “Consumers will hardly notice the changes in their online purchases, as we are already very familiar with strong authentication in Belgium. In Belgium, many traders are already in line. This is often less the case with foreign web shops, which until now were less familiar with strong authentication. ”
The adjustment is introduced step by step, so that the web shops have the necessary time to adapt. From August 25, the stricter regulation will already apply to transactions above EUR 1,500. “The banks will temporarily still offer the transactions to the customer again if they do not comply with the regulations”, Febelfin says. The threshold will be lowered to 250 euros on 22 September, to 30 euros on 19 October and to 0 euros on 17 November. From then on, a non-compliant payment will be immediately declined.
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