详情描述

58% of the 13 UK issuers surveyedfor this study think that too muchfriction is being imposed on the payments experience by the newregulations.Especially since the SCA requirements are expectedto affect the speed of consumertransactions and the number of steps to be completed when paying.

Should merchants be planning for the introduction of SCA? Issuersdefinitely think so as the newregulations will have a significantimpact on the user experience(UX),particularly for eCommercetransactions.

Consequently. once implemented,issuers predict that in the short term the number of transactionsdeclined will increase from today's3% to between 20-30%.While thenumber of step-up authorisationrequests is expected to rangebetween a third and half of allonline transactions.

The top 3 authenticationapproaches being exploredby issuers include; One TimePasswords (OTP) with delivery via SMS to a mobile phone,Authentication within a mobileb anking app,and the use of 3DStechnology. However OTP and 3DSauthentication is expected to have anegative impact on the UX.

Biometrics are expected to have alower impact on the UXbut thesewill not initially be supported bymany issuers.

The study also found that there islimited support of 3DS v2.1 today.Despite this,66%of surveyedissuers expect to be ready bythe end of 2019.3DS v2.1 has an advantage over 5Do SCAlegalhas a surety of satisfying SCAlegal requirements.

lssuers face a myriad of challengesincluding the need to juggle SCAdemands with other business priorities and regulations,as wellas complying within the stipulatedtimeline.

All this is exacerbated by delayed feedback when seekingclarifications on issues,suchas whether Merchant Initiated Transactions were to be deemedout of scope for SCA (wherefeedback took 8 months).

The study also highlights merchant challenges including a lack of awarene5s ofthe need for SCA compliance,especially for srn all an cimedium-sized enterprises who formthe majority of merchants

In tackling chargebacks, the VisaClaims Resolution programmeshowed positive results, reducingdispute resolution time by 15%.Furthermore, a majority of issuersreported that the number of charOeealevel as onedecliningthe same level as one year ago.The main reasons given for decliningtransactions include insufficientfunds and invalid card details/expired card; soon to be added tothis list will be lack of customerauthentication.The key to SCA isto ensure a smooth transition forbusinesses to take their consumerson the right journey. It's vit al
that payment providers, suchas Judopay,are included in SCA implementation and communicationprogrammes.

Merchants are directly impacted by issuerauthentication and authorisation strategiesbut often have little understanding of what these are.These strategies can havea significant impact on the customer userexperience and result in lost revenue. Wehave asked UK issuers about their plansand in this white paper are pleased toshare these details with you.

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