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Strong Customer Authentication

Standard SCA

  • Reduce risk of fraud
  • Increase consumer trust
  • Grow competitor landscape

WorldFirst remain committed to continue protecting customers against fraud and cybercrime.

With PSD2 casting a huge spotlight on the need to improve security in the payments space, ‘strong customer authentication’ (SCA) has been introduced as a key component in ensuring this happens. SCA provides consumer protection and aims to reduce the risk of unauthorised transactions and fraud. Along with open access, SCA is a core component of the Regulatory Technical Standards (RTS) introduced under PSD2.

Adding an extra layer of security onto the traditional username and password, two-factor authentication (2FA) is a crucial part of SCA. A common form of 2FA is the delivery of a one-time passcode that is sent to the mobile phone number associated to your account. Initially, WorldFirst delivered these codes by SMS. With standard SCA, you are required to enter your username and password along with a one-time passcode that is sent to the mobile phone number, associated with your account, via SMS.

SCA at WorldFirst for our mobile platforms

If you use one of our WorldFirst apps we will be asking you at login, when you add or manage a beneficiary or when you make a payment to use your biometrics (fingerprint or facial recognition).

If you have an older device that doesn’t support biometrics you will be asked to enter your unique pass code.

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Beneficiaries

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Further FAQs

Stream A

Death, taxes and expanding to the U.S.

This session will cover the basics of what your key tax obligations are and answer questions

such as:

  • What are the biggest mistakes businesses make when expanding to the US (from a tax perspective)?
  • How to avoid penalties: what happens if you don’t comply? How to stay ahead of changing regulations?
  • How to keep tax compliance from being a bottleneck?
  • What resources or tools can businesses use to manage tax compliance without an in-house expert?
  • At what stage should businesses invest in tax automation software?
  • How can automation help prevent tax errors?