News

The third and final version of the positioning paper on online payments in Europe, including key issues and requirements of web merchants in Europe has been presented at the European Banking Association Day in Madrid, held between 15-16 June 2011.

The position paper, in which major cross-border European web retailers and their representative e-commerce member organizations have collaborated in the past months (E-Payments Merchants Initiative) presents the most pressing issues currently affecting the development of the online payments industry, leading to 10 recommendations. These vary from short term operational improvements (e.g. 3D Secure, charge back procedures) to new services development in the field of buyer authentication and payments on tablets and mobile phones.

The purpose of this position paper is to:

> Identify the main issues and requirements for online merchants across Europe

> Offer guidelines to payment service providers and financial institutions with regard to the development of payment services

> Be a constructive basis for discussion with stakeholders including consumer organizations

> Support national online payments-related position paper(s) and call(s) for action

The third version of the position paper on cross-border European merchants and their organizations is the result of the consultations held at the late May Global E-Commerce Summit on e-payments in Barcelona.

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Source : The Paypers