EU Orders New Payment Security Measures

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20 August 2015. And finally, companies that handle payments from European customers must comply with EU payment security measures. Online fraud costs the EU around 1.5 billion Euros per year, so at the end of 2014 the European Banking Authority issued orders to payment service providers to improve their online security measures. A key recommendation is two-step verification, which means that users must provide two pieces of information that only they should know in order to complete a payment. It also recommends against the use of iframes on websites, saying that a full redirect from the seller's website to the payment service provider's website is preferable.

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