The Second Payment Services Directive (Payment Service Directive II – PSD2) is implementing, among other things, Strong Customer Authentication (SCA) to reduce fraud and make online banking and payments more secure. It will take effect after the 14. September 2019.
As entering a password alone is not sufficient enough to ensure your security, SCA requires at least two of the following authentication methods :
Something the Customer Knows - eg. Account Password or Pin
Something the Customer has - eg. a mobile device that receives a mobileTAN
Something the Customer is eg. a fingerprint
SCA will be applied to customer-initiated payments within Europe meaning you’d most likely be required to enter a SCA when you make card payments, bank transfers or log into your bank account.
Nuri will implement SCA by requiring you to enter both your password and mobileTAN.