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Ecommerce Europe concerned about new online payment regulations

The European association is worried that the competitiveness of European traders might be compromised.

The European Ecommerce Association is concerned that the latest revision on the technical regulations for online payments, conducted by the European Banking Authority, might create further obstacles to online commerce.

One of the main concerns is that stronger authentication systems will become mandatory, which will create further difficulties and alienate consumers, thereby jeopardizing European ecommerce retailers.

Ecommerce Europe believes that European online traders, particularly SMEs and startups, are competing directly with non-European companies that have no such legal obligations when dealing with European customers, which means that these global players’ checkout and payment processes will be much simpler than those of their European competitors.

The European association thus urges legislators to study proposals based on the payment services directive in order to stimulate the creation of a single digital market.