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Strong customer authentication

What is PSD2?

On 14 September 2019, amendments were made to the Payment Services Act which entail increased security requirements for certain types of payments within the EU/EEA, linked to the implementation of the EU's Second Payment Services Directive (PSD2). The reason is primarily to reduce the risk of fraud.

This affects how you as a customer make payments, because in many cases the payment will require so-called strong customer authentication (SCA).

It’s important to know who approves a purchase when a card transaction is made. This is done through an authentication / identification verification, which proves that you are who you claim to be. Strong customer authentication is when authentication is based on technology with several components that are independent of each other and therefore offer extra protection against unauthorized transactions.

A concrete example of this kind of authentication is a digital identification method demanding you to confirm via a password or by fingerprint on a phone associated to you as a person.

What this means to you:

  • When making online purchases from now on, you will need to prove your identity with your digital identification method.
  • You will still be able to make contactless payments (tap-and-go) with your card in store, but more often, you may be asked to enter your PIN code when paying. This applies, for example, if the amount is over SEK 400 .
  • Card payments where you have previously signed a receipt and credited yourself (for example, for not remembering your code) will be denied from November 1, 2020. After this date, you will be required to enter your PIN.
  • f you have forgotten your PIN, you can find it in our apps.

Keep in mind:

  • Make sure you know the PIN code of your card.
  • If you shop online, make sure you have access to a digital identification method.
  • It is just as important as before to watch out for fraud attempts. Never give out your cards – or information about your cards – to anyone, including PIN codes, card numbers, CVC / CVV codes.
  • Be vigilant if someone asks you to use your digital identification method. Regardless of how credible the contact may be.
  • Always contact us if you’re unsure.

Read more about your rights on the European Commission's website