The European Banking Authority (EBA) has acknowledged there were “teething problems” around the introduction of third-party account access reforms, but said the fragmented picture across the continent meant there was no case for delaying enforcement.
The authority received praise in June when it announced enforcement of security rules for online card payments would be delayed beyond the September 14 deadline. Issuers, acquirers and merchants had warned the overhaul could drive transaction abandonment and severely damage Europe’s e-commerce industry.
Request a Free Trial
As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.Take a Trial