On 14 September 2019, new requirements for authenticating online payments will be introduced in Europe as part of the second Payment Services Directive (PSD2). This law adds the requirement that we authenticate payments with your bank. This creates, in effect, a 2FA-style system where Sponsus must get authorization from you before we can charge payment methods. This new system enforces 3DSecure 2 across the entire EU and in order for Sponsus to charge cards from the EU, we must follow these regulations.
When you link a new payment method with Sponsus, you may see a pop up box on the page (a modal). Inside this box contains what your bank says is needed to authorize Sponsus to charge your card. Once you have authenticated, you will then be able to sponsor creators or donate.
The real magic is done behind the scenes as our robo-hamsters manage these things called "off-session exceptions". This is where our payment network applys for an exception to the authorization step and allows us to charge your card without you being present at checkout. If Sponsus is denied this exception, we will need to ask you to re-type your information in so we can re-apply for the exception. If Sponsus keeps asking you to do so, speak to your bank as they will know why.
Our integration plan is to redesign the payment system to support these new regulations and in doing so, we must wipe the slate clean. At midnight UTC on the 14th of September, we are going to require all users to re-enter their payment information. This measure will ensure that Sponsus's payment network is all using the same, uniform system insted of switching between the old and the new, reducing the chance for errors and problems next month.
As a creator, you wont feel the impact of this change until the first of the month. We expect that a few people might not have updated their information by the 1st so please get the word out to all of your sponsors. Sponsus does not store payment information so we cannot switch everyone across automaticly. We will try our best to remind people to re-type their info as we get closer to the 1st of the month. This change does not affect your Stripe account. This only effects the payment method.
As a sponsor, your task is simple: Re-type in your payment information on your dashboard. Once its been updated and authenticated, then you can continue with your day as normal. Since you are already on Sponsus however, you could sponsor a really cool creator like LawfulMasses or CryNovel!
Thank you for using Sponsus!
- Cerulean
