Market Research Report
The Impact of PSD2 on European B2C E-Commerce and Online Payment 2019
|Published by||yStats.com GmbH & Co. KG||Product code||916472|
|Published||Content info||76 Pages/Charts
Delivery time: 1-2 business days
|The Impact of PSD2 on European B2C E-Commerce and Online Payment 2019|
|Published: November 13, 2019||Content info: 76 Pages/Charts||
The EU's revised Payment Services Directive (PSD2) is shaking up the E-Commerce payments market in the European Economic Area with long-lasting implications for security, competition, innovation and payment methods mix, the yStats.com report reveals. One of the key provisions of PSD2 is Strong Customer Authentication, or SCA, aimed at addressing the growing threat of online payment fraud. But with consumer awareness and retailers' readiness low, deferral of enforcement of SCA until the end of 2020, with a transition period after September 2019 has been suggested in order to address the industry's concern over the potential billions of Euros lost due to increased cart abandonment and transaction rejection rates.
Another major goal of PSD2 is opening up the digital payments market to new players, such as by requiring banks and other account holding institutions to provide licensed third-party payment services with access to accounts at customers' request. The new payment services that are expected to emerge from these provisions could transform the E-Commerce payments and digital finance markets, encouraging innovation and competition.
PayPal Holdings Inc., Mastercard Inc., Amazon.com Inc., Alphabet Inc.