Service Provider Regulation For Enhanced Security

As an EU company we are bound to abide by the regulations set forward by the EU as implemented by the country of residence. In some cases these regulations are already reflected by local law and can even exceed the requirements set forward by the EU. In the latest round of regulations passed at the beginning of 2020 for enhancing the security of online banking and money transfer in general the EU has set forward a set of regulations that are supposed to make it more difficult to gain unauthorized access to banking accounts through a secondary form of verification.

In reality the implementation of these regulations falls short in a lot of areas and a lot of banking institutions or others handling money transactions are only partially following the regulations set forward. This is despite the clear outlines for what such an implementation requires to provide. Even more concerning is the nature of these implementations often disregarding the specifics of allowing the willful dismissal of participation in the additional verification step. In turn this results in pages and pages worth of complaints against such institutions for both making the steps mandatory despite the optional status and lack of complete adherence to the regulation in general, leaving, in the worst of cases, anyone with the inability to procure or provide verification without access to their funds. The latter being a downright case of discrimination against disabilities in a lot of cases.

We have elected not to follow these regulations, not that we need to as we do not handle sensitive banking information on our end. We do, however, see changes in how our customers pay for their services which are undoubtedly the result of how regulations are implemented with various payment providers we work with. While not strictly our responsibility and far out of our reach to even do something about, we still want to apologize for any inconvenience you may experience paying for your services. We have launched formal complaints with at least one of our payment providers in regards to their failure to properly implement these new EU regulations in a manner that both satisfies the guidelines set forth in the regulations themselves and the implementation abiding the disabilities act.

If you are still having issues with processing your payment with one of our payment processors please do not hesitate to contact us via ticket.