ChargeHive and PSD2: 
What is ChargeHive doing for you

The latest EU Revised Payment Services Directive (PSD2) are going to have a profound effect on your business

You shouldn’t have to worry about the latest changes in the regulations, so we’ve got you covered. No stress, so you can focus on growing your business. 

 

 

 

 


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How will PSD2 affect you?

Rapid developments and changes across the payments sector in the last few years required the EU to upgrade the first Payment Services Directive (PSD1). As digital commerce continues to grow and incidents of fraud are on the rise, changes needed to be made to protect both the merchant and the customer.

PSD2 will bring in new requirements and begin enforcements with Strong Customer Authentication (SCA) standards for online transactions. These directives dictate stronger authentication on electronic payments. To ensure compliance, merchants will need to upgrade their authentication infrastructure to allow for two-factor authentication, or face declined payments. 

What are we doing?

As part of our ongoing commitments to our ChargeHive users, we have been working tirelessly with different payment providers to ensure that our customers can be confident knowing our wide range of gateways will support the latest PSD2 requirements. 

Ensuring payments are supported to SCA and 3DS2 requirements, our team have developed a configurable programme where you can specify whether revenant checks are needed for payments from customers within and outside Europe.

What you need to do?

With ChargeHive in tow, you don’t need to worry about a thing.

You can dynamically apply PSD2 requirements to transactions within Europe so you can carry on accepting payments with the confidence you are remaining compliant the latest regulations.