Ecommerce Europe has written together with other organisations from across various sectors and all players in the payments value chain a letter addressed to Commissioner Dombrovskis with regard to the European Banking Authority’s (“EBA”) proposed draft Regulatory Technical Standards (“standards”) on Strong Customer Authentication (“strong authentication”) and secure communication, under the revised Payment Services Directive (PSD2). We fully support the aims of the PSD2 to ensure fair competition, innovation and security in the payment services sector. The PSD2 and the EBA standards are important steps towards a Digital Single Market (DSM) in Europe. We endorse the objectives of the standards and appreciate the difficulty the EBA has faced in trying to find the right balance between security and customer convenience. However, we have strong concerns that if the EBA’s standards were implemented in their current form, it would create unnecessary hurdles for a number of different industries, especially e-commerce.
To download the letter, please click here.