Katarzyna Szczudlik will participate in the ITechLaw European Conference in Lisbon

Katarzyna Szczudlik (SSW partner) will participate in a discussion on the impact of the new EU directive at the ITechLaw Association European Conference in Lisbon (November 10th-12th) as a member of the panel “How is the Fast-Moving FinTech Sector Dealing with PSD2?”

The digitalization of all sectors of the economy poses some unique challenges for customer protection and data security. The revised Payment Service Providers Directive (PSD2) introduced massive changes to the payments sector by introducing new security systems and available services.

The directive contains two key elements. Strong Customer Authentication (SCA), which aims to protect customers from payment fraud, by introducing obligatory two-factor authentication. To prove their identity, consumers will be required to provide two out of three of the following: something they own (e.g., a mobile phone), something they know (e.g., a PIN code) or a physical attribute (e.g., a fingerprint). The second element is the opening of bank infrastructure to Third-Party Payment Services Providers (TPPs). By encouraging secure access to bank data, the EU aims to promote innovation and develop new businesses.

Do you want to learn more? You can still register for the ITechLaw Association European Conference in Lisbon HERE.