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FCA ‘Dear CEO’ letter on SCA published

The FCA has sent a Dear CEO letter to payment firms within the scope of PSD2 SCA, confirming the plan for an 18 month phased implementation of SCA for card-not-present e-commerce transactions.   

The FCA’s letter urges firm to speak to their trade union and to UK Finance to get more information on the agreed plan.  They reiterate that firms must be able to demonstrate they have taken the necessary steps to comply with the agreed industry delivery plan, and they expect firms not to act outside this plan in ways that cause unnecessary problems for consumers or merchants.

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Roseyna Jahangir