The second Payment Services Directive, or PSD2, is legislation adopted by the European Union in 2015 to encourage the development and use of new financial technologies, such as Open Banking. Please see here for more information about how new EU standards coming into effect under PSD2 on 14 September 2019 will impact Hubdoc’s automated connections.
These new EU standards will also impact how you pay for your Hubdoc subscription.
How does this impact you and your Hubdoc account(s)?
These new EU standards introduce a concept of Strong Customer Authentication, or SCA. Once SCA comes into effect, your online card transactions may require multi-factor authentication by your bank. As a cardholder, you will be prompted by your bank to provide additional authentication information in order to complete a payment online ( e.g., entering a code sent to your phone).
How can I prepare for this change?
Recommended action: Hubdoc payors could be prompted to perform additional authentication when paying for their subscription(s) starting on 14 September 2019. Therefore, we encourage you to review the billing email address associated with your Hubdoc account in case your bank requires additional authentication when paying for your Hubdoc subscription.
To review your billing email address, follow the outlined steps below.
- Log in to Hubdoc.
- On the Hubdoc Organizations Page, select the organization to which you would like to review the billing email address.
- In the Hubdoc organization’s dashboard, click the Gear Icon.
- Select the Billing Information tab.
- View the email address registered to your subscription under the heading Billing Email Address.
- Invoices and other billing notifications, such as authentication requests, will be sent to this address.
- If needed, update the email address and click Save.
Authentication requests in Hubdoc
You will be notified via the above email address of additional authentication requests on your Hubdoc subscription by your bank.
To complete those requests, you will need to toggle into the Billing Information tab in your Hubdoc account. From there, you will be prompted by your bank to provide additional authentication to complete your payment (e.g., a one-time code sent to your phone or a fingerprint authentication through your mobile banking app).
Please note: It is at the discretion of the bank to administer authentication requests to their customers as many times as they wish.
Please do not hesitate to contact our Support Team if you have any questions or concerns.