The EU Directive PSD2 (Payment Services Directive 2) comes into effect on 14 September 2019. Its aim is to reduce fraud and misuse of electronic payments. DR-WALTER is well prepared for the new requirements of a secure payment method. If you want to buy our insurances by credit card, the changes will also affect you. As a general rule, if you want to continue using online banking or shop online with your credit card, you need to take action and look at your bank's new security procedures.

In contrast to last year's Basic Data Protection Regulation (DSGVO) of the European Union, which usually only required the approval of virtual crosses or analog signatures, the EU Directive PSD2 now requires consumers to be much more active. For online shopping with credit card, it is no longer sufficient to provide card number, verification number and expiry date. Additional security checks with two-factor authentication are carried out. To do this, you have to register with your bank and download an app if necessary.

Online shopping with credit card

Those who use their credit card to shop online have to be prepared for a 3D Secure procedure, which has a different name depending on the credit card: Visa is called "Verified by Visa", Mastercard "Mastercard Identity Check" and American Express "Safekey". As with online banking, customers must confirm their payments with a valid transaction number (Tan). Banks offer various procedures for transmitting Tan, which are generally carried out via mobile phone.

Online banking

The iTan lists will be abolished with immediate effect. So anyone who used to use his paper list with transaction numbers to enter the tan has to adjust: Even the SMS tan is no longer considered secure and is no longer offered by some banks. From now on, only dynamic Tan procedures are permitted. If you don't use one yet, you have to register for a new procedure on the bank's website. Most of them are compatible with smartphones. But those who do not have one can also work with an additional reader, the Tan generator, which generates a ChipTan or PhotoTan.

Registration for the 3D Secure process

In order to register for the so-called 3D Secure process, customers fill out a form online: Depending on the bank, they will then receive their identification code by mail, on the transaction display of the credit card invoice or as a mini credit note where the code appears in the intended purpose. The code can then be used to select the Tan procedure. Some banks require an app with which the transaction number is transmitted as App-Tan, PushTan, VR-SecureGo, EasyTan or Tan2Go. You need to install the app and enter the code on the registration website. A personal unlock code will then appear in the app to initialize the Tan process. Some banks also use fingerprint authentication.

Adjustments at DR-WALTER

We are prepared for the increased security requirements for online payments so that you can take out our insurance policies online without any problems even after 14 September. For credit card payments, we will forward you to the Wirecard website, where your bank will carry out a security check. You then enter your AppTan, SMS-Tan or PhotoTan. If the entered data matches and the bank releases the payment, the payment process starts and you will receive your insurance confirmation in a few seconds. By the way, nothing changes if you pay our insurance policies via SEPA Direct Debit or an online payment system.