The E-Commerce Association of Ireland (eCAI) today launched a dedicated campaign and website to help e-commerce businesses struggling to be fully PSD2 compliant, and on time for the new EU payments directive taking effect on the 14th of September this year.
“PSD2 should be as recognised a term as GDPR for businesses. Online merchants who haven't got the necessary changes in place, run the risk of all their card payments being declined and sales crashing to a halt” said Niall Bodkin, eCAI founder, “We welcome the Central Banks decision to delay the enforcement of Strong Customer Authentication (SCA) but the reality is nothing has changed. Businesses need to be aware. The extension could be 3 months or 3 years".
“PSD2 requires a two step authentication when buying goods, which will inevitably slow down conversion rates. Getting User Experience right will be the next battle ground to ensure ease of use” “PSD2 regulatory changes will affect online traders most in the short term, but reducing fraud and opening access to greater competition, will see an explosion of new payment technologies which can only bolster eCommerce trade in years to come”.
“Many businesses were looking for our independent guidance on PSD2, so we built a dedicated PSD2ready.ie website to guide online merchants on issues that directly affect them".
A growing coalition group of business organisations have come together in partnership to help drive awareness and support the campaign, ISME, SFA, IEDR, Retail Ireland, Guaranteed Irish, eBay, An Post, Fastway and Blacknight. Companies wishing to join the campaign can contact the eCAI.
Responding to the need for clarity and information we are holding an afternoon seminar on Wednesday the 4th of September in City Hall from 1pm-5pm, covering the key topics of PSD2. It will be streamed live for companies unable to attend.
The seminar will bring all the top banks and payments professionals together to highlight the changes and showcase new payment methods and future technology solutions. Panellists’ from AIB MS, Elavon, BPFI, GlobalPay, Visa, & Mastercard will all be there to discuss the initiative and its impact.
For more information go to http://www.psd2ready.ie or contact firstname.lastname@example.org
Press Queries: Contact Ciara Lawlor eCAI Tel: +353 83 1104828 email@example.com
For more information, please contact:
E-Commerce Association Of Ireland
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