PSD2 (Payment Services Directive 2) is a regulation aimed at improving the security of online payments and pushing forward innovation within the financial industry. It does this by setting out a framework for secure access to banking data via APIs, promoting competition and giving consumers more options. This regulation empowers third-party providers to create new and innovative payment solutions, particularly in the travel sector, by making transactions quicker, safer, and more adaptable.
PSD2 impacts how travel companies handle payments by enhancing security measures, such as Strong Customer Authentication (SCA), and enabling the use of open banking for improved customer experiences.
Implementing PSD2 compliance requires travel businesses to adapt their systems for SCA and ensure seamless integration with authorised third-party providers while maintaining data security.
- PSD2 enhances payment security and innovation in Europe.
- It requires SCA and supports open banking practices.
- Compliance involves system adaptation and improved data security.
Felloh helps travel companies comply with the Payment Services Directive 2 (PSD2) by integrating Strong Customer Authentication (SCA) and secure payment methods. This ensures that businesses meet regulatory requirements while reducing fraud risks. By offering seamless payment flows that align with PSD2, Felloh improves the customer experience without sacrificing security. The platform also provides real-time monitoring and reporting to ensure ongoing compliance, making it easier for businesses to navigate PSD2 regulations and maintain secure, efficient transactions.
We partner with leading travel insurers to offer a Package Travel Regulation (PTR) compliant protection policy. This protection covers non-flight packages and automates returns to the insurer based on real-time booking data, ensuring you only pay for the protection your business needs.
