Strong Authentication? Unanimous, But Many Say EU Proposed Rules Risk Sacrificing Innovation And Growth

As the European Union nears the creation of new rules on payments providers for consumer authentication, many question their utility.

The European Banking Authority's proposed rules say that service providers have to choose two of three verification methods: knowledge (such as a password), possession (a card, phone or wearable) and/or inherence (fingerprints, voice or iris scan, for example).