The UK’s financial services regulator, the Financial Conduct Authority (FCA), has announced a six-month extension to the deadline for implementing strong customer authentication (SCA) for e-commerce.
The regulatory body confirmed that the new deadline of 14 March 2022 will be the latest it expects full SCA compliance for e-commerce transactions.
The FCA said that it has issued the deadline extension to ensure “minimal disruption” to merchants and consumers, and in recognition of the “ongoing challenges” facing the industry to be ready by the previous 14 September 2021 deadline.
In a statement, the regulator said: “We previously agreed to give firms extra time to implement SCA for card-based e-commerce transactions in response to concerns about industry readiness, and to limit the impact on consumers and merchants.”
The implementation of SCA is intended to enhance the security of payments and limit fraud during this authentication process.
In a statement issued on 20 May 2021, the FCA said: “We welcome the implementation of SCA solutions which protect consumers while minimising the potential for disruption to customers and merchants.
“We still expect firms to continue to take robust action to reduce the risk of fraud.”
It has previously stated that any firm that fails to comply with the requirements for SCA will be subject to full FCA supervisory and enforcement action.