„Fast and simple payment” is the key point of e-commerce
Many of the e-commerce customers have intermitted the process of online purchasing because of too complicated security measures. The strong client-verification process to be introduced soon may further increase this ratio.
The 2-factor verification process applicable to all online payment, to be introduced by the amended Payment Services Directive (PSD2) as of September 14 will affect the whole European Economic Area. British firms are exceptions to this deadline.
The survey concluded by GoCardless in the United Kingdom, France, Germany and Spain showed that for almost half of the British consumers (43%) „fast and simple payment” is a crucial point in online debit card payment. The key factor is still security according to 62% of French, 61% of German, 58% of Spanish and 55% of British respondents.
48% of the respondents in Germany declare that they have intermitted the online purchase because of too complicated security process. The same ratio was 44% in the UK.
Large companies, like Amazon have already warned and the European Banking Authority accepted that a few companies may need some additional time to transform their client-identification process and to lead their traders to this online surface. The final deadline is expected to be announced until the end of the year.