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To make e-commerce more secure, a new EU Payment Services Directive has become effective from 1 January 2021. This means that all card issuers and card acquirers throughout the EU must reject card payments above €30 in online stores that are not approved with a strong customer authentication, which goes by the abbreviation SCA. To ensure a stable settlement, however, the Danish Financial Supervisory Authority accepts that, in practice, customer authentication will be used for all online payments no later than January 11 2021.
Two-factor approval when paying in Shipmondo
To meet the new EU requirements, we have implemented a two-factor approval solution when you pay in Shipmondo that is commonly called 3D Secure.
In short, when you have to pay, you are asked to approve your payment. You can do this in two ways:
Bank solution: Each bank can implement a solution for secure payment. In Denmark, NemID (a digital signature used to log on to public websites, for online banking and many other digital services) is used as a 3D Secure solution. Check with your bank and get information about what solution it offers.
One-time code and password: If you choose this method, you will receive a one-time code via SMS that you enter together with your password, which you must create yourself.
Pay easier and faster with a saved card
While it may sound cumbersome to have all payments approved every single time, you can make it easier for yourself and your business. Therefore, to ease the process, we recommend that a payment card should be issued to the person responsible for the booking of shipments, so that it becomes possible to approve the purchase at the time of payment.
If you want to make it even easier, we also recommend that you use balance payments. With balance payments, you add funds to your Shipmondo account and then use this balance to pay for the booking of shipments.
There are several benefits to using balance payment:
If you use balance payment and, at the same time save your payment card, you can activate the auto-refill function. This means that you both avoid your account running out of funds, and, at the same time, you avoid the two-factor approval with each refuelling or payment.
With balance payment, you get a monthly invoice rather than an invoice per purchase, giving you a complete overview and fewer documents.
You can activate automatic settlement of outstanding payments, which, for instance, automatically settles insufficient postage on your shipments.
Do you own a webshop?
Then you have to abide by the new EU Payment Services directive, too. This means that your webshop must support 3D Secure by 11 January 2021 at the latest.
If you don’t implement 3D Secure in a timely manner it will have serious consequences for you, as you won’t be able to receive payments. But don’t worry! You can read our blog on the safety requirements, so you are ready for the start of the New Year - without losing customers.
