European Commission Finalizes PSD2 Authentication Rules For Corporate Cards

The European Commission has exempted corporate payments from its finalized requirements for payment security authentication. In so doing, the commission resisted vehement opposition from the European Banking Authority

Individual pay cards, which have been treated as consumer cards since the EU Interchange Fee Regulation took effect in 2015, are effectively excluded from the exemption. “Lodge cards, virtual cards and corporate cards with corporate pay are fine, but SCA still is required for plastic cards [that] don’t fall under the exemption,” said Diemer. Some corporate travelers have either individual pay corporate cards or even personal cards within the profiles TMCs use to make bookings on their behalf. In such cases, said Diemer, SCA will be required in order to complete payment. The same goes for leisure bookings. Conferma director of strategic relationships Paul Raymond agreed with Diemer. “We need to prepare for SCA anyway, so we are looking to see if there is a secure, easy way to do this,” he said.

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About Conferma Pay

Conferma Pay is a global financial technology company. We design and integrate virtual payment systems that provides a more efficient, seamless and secure way to pay for for businesses.

Travel Meets Payment

Conferma Pay was born in Manchester in 2005. Since then we have connected over 700 TMCs, and directly integrate with all the major GDSs and OBTs. Our roots lie in corporate travel payment integration.

We enable our payment providers to flow virtual cards into the preferred purchasing process of any business travel buyer. Crucial to this is our network of banking partners, who have issued virtual cards in over 200 countries, in 40 currencies with over 45 commercial banking partners via all major card networks.

Our ecosystem continues to expand to meet the growing requirements of our global customer base.

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