Regulatory Alerts2024-01-11
Regulation on Strong Customer Authentication and Secure Communication Standards for Payment Service Providers
The Executive Board of the National Bank of Moldova has approved a regulation transposing EU directives to mandate strong customer authentication and establish secure, open communication standards for payment service providers. The rule requires providers to implement risk-based transaction monitoring, multi-factor authentication with dynamic linking, and regular independent security audits while protecting user credentials and communication sessions. It outlines specific exemptions from authentication for low-value, contactless, trusted beneficiary, and recurring transactions, and mandates standardized API interfaces to facilitate secure account information and payment initiation services.
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