Retailers Warned To Start Complying With Consumer ID Rules
By Irene Madongo (January 10, 2022, 1:38 PM GMT) -- Card issuers could start declining retail transactions that do not comply with new rules on customer identification as early as next week, ahead of a March deadline, according to a trade group representing finance firms in Britain.
UK Finance said that card issuers will start turning down some non-compliant transactions from Jan. 18 — before the deadline of March 14. All transactions that do not comply with the Financial Conduct Authority's rules will be rejected after that date.
Online retailers will have to be ready by next week for the FCA's "strong customer authentication" rules or risk seeing purchases by customers being declined,...
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