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Online Shopping- Additional Security

Superuser I
Superuser I

Just putting  some information here about the proposed changes for  Online Shopping, even though they have now been delayed for 18 months    (of course many may well be aware but whilst there have been articles and  communication from banks) have not seen much in the media.    Obviously some Business were not ready but wonder if erred too far on the side of caution (though may be necessary)  , it is essential preparations are made and this will eventually  go ahead whatever happens politically. of course a one time code via mobile will not be suitable for everyone believe it or not, alternatives need to be in place.

 

https://www.which.co.uk/news/2019/06/new-online-security-checks-exclude-people-without-mobile-phones...

 

https://www.bbc.co.uk/news/business-49332023

 

https://www.fca.org.uk/news/press-releases/fca-agrees-plan-phased-implementation-strong-customer-aut...

 

 

 

4 REPLIES 4
ChrisM Moderator
Moderator

Thanks for that @JAMES4578. Really useful!

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Superuser I
Superuser I
Sad to see that the SCA (Strong Customer Authentication) law is delayed, for my business I updated the systems early this month to be fully compliant when the switch is flipped.

I don't understand why businesses can't be ready yet while there are services like iDeal ( https://www.ideal.nl/en/consumers/what-is-ideal/ ) that are around for ages (Even though its the default payment method in the Netherlands ).
Superuser I
Superuser I

Maybe some countries such as the Netherlands are ahead of the game.    However there was an article in the FT a few months ago which stated  that  "Research by the UK Finance trade body estimated that, without a significant change before September, between 25 and 30 per cent of ecommerce card transactions would become impossible to complete."The figures were cited in a letter, which was also signed by the European Savings Banks Group and European Association of Co-operative Banks.    Would have  put a link but you can only view so many articles without subscription and my limit has been reached.

Superuser I
Superuser I
Honestly, I'm not surprised about that (Banks & Governments are quite far with Digitalization). But security is in my eyes high on the agenda and I'm sad to see that this many businesses don't have fraud (And in an extension: security) high enough on the agenda, especially considering fraud consist out of a significant chunk of support queries.

In my business the services are digital so it really doesn't matter (Except for the chargeback costs ) if someone tries to commit fraud, but if you send physical goods its a completely different story.

I firmly believe that security (And especially anti-fraud) is in the benefit of everyone involved and will effectively save a lot of money.

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