With payzy pro you don't need to worry about anything! COSMOTE Payments is an Electronic Money Institution licensed by the Bank of Greece and adheres to all necessary measures to provide the highest level of security for your payzy pro account.
Every transaction with payzy pro is executed by fulfilling all the PSD2 security measures and after Strong Customer Authentication (SCA), in accordance with European regulatory requirements.
The strong customer authentication (SCA) is a European regulatory requirement that aims to reduce fraud and ensure the security of online and offline payments. SCA requires identification with at least two of the following three elements:
- The customer's Knowledge (e.g. password or PIN)
- The customer's Possession (e.g. phone number, or token material)
- The customer's Inherence (e.g. fingerprint or Face-ID)
Payzy pro requires to achieve SCA:
-The phone number that was given during the registration, which the customer must be in possession of.
-The use of a password that the customer knows.
-The use of push notifications on the customers device during each payment process and authorization by FaceID or FingerPrint, something, that is inherent to the customer.