eMerchantPay LTD.
eMerchantPay LTD.

Possible changes to the EU e-commerce landscape...

Possible changes to the EU e-commerce landscape



As a part of the Revised Payment Services Directive (PSD2), the European Banking Authority (EBA) has proposed to reduce risk and mitigate fraud in the payment industry by implementing passwords to authenticate payments upward from EUR 10.

One of the repercussions is that payments in apps like Uber or web shops where consumers register their card are no longer automatic, but require a password to be entered for every transaction over EUR 10. For the consumer this means extra steps in the payment process, which we know might discourage them from finalising the purchase or order, even though this extra step adds extra security to the process. Additionally, purchases outside the EU might be blocked because foreign web sites might not adhere to the new European standards. This will not only frustrate the consumer, but also foreign merchants counting on European business.

In the beginning of 2017 the EBA will adopt the final proposal. Of course we can’t look into the future, but we are prepared for it. Our collaboration with identification and payment authentication service iSignthis provides our merchants with the highest level of online payment security and Know Your Customer compliance. Please reach out to your eMerchantPay representative to ask about how we can help prepare your business.