Legal documents
PSD2, standing for the second Payment Services Directive, is a directive that took effect in the EU in September 2019. For any one-time online transaction exceeding 30 EUR within the EU, enhanced secure two-factor authentication is mandated. This requirement is enforced regardless of whether one of the parties involved (either the payer or the payee) is located outside the EU at the time of the transaction.
Two-factor authentication is a security protocol that demands two distinct forms of identification for verification, aiming to reduce the risk of security lapses. Within this framework, when a customer engages in an online transaction exceeding 30 EUR, they must authenticate the transaction using two varied types of identification elements. These elements can be categorized into three groups: knowledge (something only the user knows), possession (something only the user has), and inherence (something only the user is, such as biometric data).
TwikPMS collaborates with Stripe as its payment service provider, enabling the customization of the payment page to meet the PSD2 regulatory standards. If you're utilizing a third-party booking engine, it's important to reach out to them to ensure they adhere to PSD2 requirements.
If you have any questions, please contact support.
