At payzy pro you don't have to worry about anything! COSMOTE Payments is a licensed Electronic Money Institution by the Bank of Greece and adheres to all necessary measures for the maximum security of your payzy pro account.
Each transaction at payzy is executed by meeting all the required PSD2 security measures and after being preceded by Strong Customer Authentication (SCA), in accordance with the European regulatory requirement.
Strong Customer Authentication (SCA) is a European regulatory requirement that aims to reduce fraud and increase the security of online and informal offline payments. SCA requires that identification be used with at least two of the following three elements.
- SOMETHING THE CUSTOMER KNOWS (e.g., password or PIN).
- SOMETHING THE CUSTOMER HAS (e.g., phone or hardware token).
- SOMETHING THAT IS THE CUSTOMER (e.g., fingerprint or facial recognition).
To achieve strong identification, payzy requests:
- A mobile phone that has been enrolled during registration with payzy with a security key and is owned by the customer.
- Mandatory use of a password that the customer knows.
- Sending a Push Notification to the device on each payment attempt and waiting for approval using FaceID or FingerPrint, which indicates that it is the customer.