The EU directive, which will arrive in mid-September, will make a big difference to cardholders, so it’s worth talking about in the light of new information.

It affects everyone who has a card

The term PSD2 will soon be in the public domain as GDPR. The change from September 14th aims to make our account money much more secure in the future.

What comes into effect will be two-factor authentication for purchases. When using an intra-EU card, you will need an SMS or some mobile application identification along with your CVC code , for example, as if you were entering a gate at an airport, for example, to show a QR code.

We have to prove ourselves every five purchases


PayPal purchases now require you to enter your PIN not only above $ 5,000, but if you withdraw money from your account below that amount, you will need to enter it at least every fifth time. This is likely to prevent someone from bumping into an account without a code if a malicious individual has access to a plastic tab. This has not been protected since the introduction of Paypass.

It is a change, but rather an expansion, to allow external service providers to access our account if we give them access. If you grant access, some companies may have access to information or make a payment from our account.

step verification already existed

step verification already existed

Contrary to the initial news, therefore, it is not only the EU webshops that are affected, we will have to prove ourselves more extensively than shopping. This is good news, because it will be harder to manipulate our account.

Accessing our credit card information, as it is on the card itself, is fairly easy. Beyond providing information that will be negotiated with the financial institution, this will cause some difficulty for card abusers.

Otherwise, many bank customers can only spend one extra code on many banking clients, such as OTP.