Free webinar helps charities stay compliant with new FCA payment processing law
Don’t get caught out: a new on-demand webinar gives charities the essentials on the new security rules around payment processing.
Click here to view the webinar ‘Preparing for Strong Customer Authentication’, which is available to watch now.
From September 14, new payment legislation called “Strong Customer Authentication” (SCA) will begin rolling out across Europe.
SCA is something that all organisations processing online payments need to be aware of, including charities, to ensure their transactions don’t get rejected. If your charity accepts payments online, including for donations, paid event registrations, membership, sponsorships and more, then you need to understand SCA and how to comply.
To help organisations get up to speed with the changes, charity cloud software partner Blackbaud Europe have produced an on-demand webinar that charities can watch in their own time.
How will Strong Customer Authentication work?
SCA adds more layers of authentication to protect individuals from fraud. For all transactions over £30, including donations, online authentication will require some simple but important extra security steps.
The change will affect all online transactions, from all organisations across all sectors, and failure to adhere to these new regulations may mean that card transactions get rejected.
When is this happening?
In the UK, the Financial Conduct Authority has said that card issuers, payment firms and online retailers have until March 2021 to introduce the changes.
But the European Banking Authority and EU regulators will begin introducing SCA from September 14 2019. That means that, regardless of the approach taken by local authorities, some major European banks may start declining payments made without these extra authentication step from September 2019 – so it could impact charities a lot sooner.