PSD2 service directive - What changes for businesses?

See in detail the changes for businesses:

Τransactions with strong authentication

In order to carry out your transactions through Piraeus e-banking, every transaction should be authorized. Transaction authorization is done for both individuals and legal entities by receiving push notifications through Piraeus e-banking.

Alternatively, it is done with an extraPIN delivered through Viber or SMS at the company’s registered user or by using a code from a token generator.

Τrusted beneficiaries

At Piraeus e-banking you can designate, if you wish, beneficiaries with whom you frequently and regularly transact as trustees. Beneficiaries you designate as trusted beneficiaries will no longer require strong identification when conducting a transaction.

For the following transactions you can exempt them from the strong authentication requirement, setting them as a trusted beneficiary:

• Transfer money to someone’s else account at Piraeus Bank
• Remittances
• Payments to organizations
• Credit card payment
• Load Business Prepaid Card*
• Load a prepaid card / WEBUY**
• IRIS 24/7** 
• Online insurance products**

For legal entities, the management of transactions designated as "trusted beneficiary" (creation/deletion)  is set from authorized users (admin user) at security settings at user’s profile. Once a beneficiaries is set as a Trusted Beneficiary, it is available to all corporate users. A user in order to manage trusted beneficiaries, should apply at his Piraeus Bank branch proper legal documents with the required declaration.

For individuals, they can set a trusted beneficiary during the validation of a transaction through push notification at Piraeus app or while they enter the extraPIN security code in order to authenticate the transaction.

* exclusively for legal entities

** exclusively for individuals