The Retailer Spring_09.05_FA
Costs The additional cost of these solutions is a further concern for end-users of the payment system. The use of 3D Secure is likely to come at an additional cost tomerchants, and there is a concern that confusion over SCAwill enable acquirers to upsell inappropriate solutions. Excessive card fees and charges are ultimately paid for by the consumer in the cost of goods and services. Merchants have already provided Government and regulators in the UK and in Brussels with ample evidence of excessive card payment fees and charges prior to these new developments. Merchants and consumers are now looking to the EU for the regulation of all card fees and charges through the revision of the Interchange Fee Regulation (IFR). Action needed Action fromGovernment and the FCA, as the UK’s competent authority for SCA, is required now to ensure a consistent and coordinated approach to implementation, and, in turn, to facilitate full and clear communication to consumers and businesses in the time remaining between now and the 14th September deadline.
‘‘ Many businesses lack awareness of the changes that SCA will bring to payment processes, and the absence of a UK-wide consumer communications plan, such as the one that supported the roll-out of chip-and-pin in 2006, is cause for concern.’’
the retailer | spring 2019 | 37
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