December 5, 2014 -
Polish banks have until January 31, 2015 to ensure that their online payment systems comply with the new security standards set by the Polish Financial Supervision Authority (KNF), according to a report by TheNews.Pl.
The KNF previously asked lenders to ensure that their remote payment systems are secured by a strong authentication method, which can include either permanent or one-time passwords and biometric data.
KNF press officer Lukasz Dajnowicz recently told Dziennik Gazeta Prawna that the organization has “no plans to extend” the deadline.
The majority of Polish banks offer clients the ability to make payments online by using data detailed on the card, including the number, expiry date and the card verification number.
A few banks including Bank Millennium, ING Bank Slaski and Citi Handlowy already comply with KNF’s new standards by using the 3DSecure system, while several other banks are in the midst of implementing the system.
KNF said that any bank that does not implement 3DSecure or a similar system by January 31, 2015 may not be able to offer remote payments.
The Polish Bank Association and the KNF are currently in talks about the new standards and possible exceptions to them, according to the Dziennik Gazeta Prawna report.