Strong Customer Authentication, embrace the change. Benefit from new opportunities.
- December 19, 2019
- Posted by: Eddie Curran, Managing Director
- Category: Insights
New legislation means that the payment journey for your customers will change to include increased authentication methods and 3DS v2 will become mandatory for UK E-commerce retailers by 31st December 2020.
Time is of the essence.
If you’re not ready, up to 25% of your payments could be declined, meaning a considerable loss of business.
There’s a lot to do… and quickly.
Whilst many retailers will have a hard time navigating the implementation of 3DS2, which can be costly and time consuming, not all retailers are the same. The impacts on an online grocery retailer will be completely different to that of an online fashion retailer. However, in addition to 3DSv2, there are other options for Retailers to consider, which have the potential to reduce both risk to trade and payment costs.
CBS has developed an SCA roadmap.
Talk to the experts.
CBS is a UK firm of management consultants specialising in transformation and change delivery, involving payments, digital channels and regulation.
Over the past ten years, we have delivered industry-wide payment changes such as SEPA and Faster Payments. We are currently working with industry bodies and our partners on-behalf of Retail and Bank clients to deliver PSD2 and SCA.
CBS is uniquely placed to assist E-Commerce Retailers and to help them minimise disruption and risk to trade.
In particular, we can;
Carry out payment cost opportunity and trade risk assessments
Formulate payment strategies for Retailers, taking into account emerging capabilities and trends;
Manage complex change programmes and supplier management.
CBS recently performed a cost opportunity assessment for a large UK Retailer, which identified significant potential savings and has already resulted in a negotiated cost reduction of over £1.5m per annum.
Take the first step to protect your trade and reduce your costs.
Contact us today to accelerate your plans.