Online card payments are now more secure than ever!
As of the 1st January 2021, new regulations have come into effect that aim to increase the safety and security of card payments all across Europe. These new regulations are part of Europe’s PSD2, which seeks to improve the security of payments, boost innovation and help banks across Europe with modernising and adapting to new services. As part of the process to continue to modernise and ensure the highest safety standards, 3DS2 was introduced.
What is 3DS2?
3DS2 is a type of security feature known as Strong Customer Authentication (SCA) or two-step verification. This type of verification ensures that you, the card holder, are the one performing the payment and no one else 🥷
We brought this security standard to our users in December 2020 and made sure that with bunq, it would be a quick and easy feature. With this new high-end security feature, users can authorise online card payments through a push notification from the bunq app. Once you’ve approved the purchase, you’re done! We’ve made it easier and faster than ever to approve your purchases 🙌
How do these rules impact me?
Luckily most of our users won’t notice the changes and can continue to do payments as usual ⭐️ In some rare cases, you might come across a failed card payment because the merchant doesn’t process the payment using the most recent and highest security standards. We believe in transparency, which is why we have implemented a text to notify you about online payments that failed because they didn’t meet that high security standard.
As it’s required for us to decline these unsafe payments, you might encounter a failed payment for certain online transactions. We’re always looking for ways to improve your banking experience, but of course the safety of your money comes first 🔒
If you encounter any problems, please reach out to our Support team.
I have a failed payment, now what?
Firstly, make sure that your payment was indeed denied due to 3DS2. To do so, go to your payment Event and check the reason for failure. It is right below the payment amount💲
If you see Your payment was declined due to 3DS Secure Authentication failure then this is indeed a case of soft decline 👍 To adjust this in a few easy taps, simply enable Auto Accept and try again! The payment should be paid correctly this time 💪
Don’t know how to set up Auto Accept? Check out our tutorial here
Want to explore more bunq features or learn how to find your card details for online payments?
Take a look at the knowledge section of Together here.
