A wider variety of online payment solutions is needed in Europe. The European discussion of online payment is paying too much attention to reducing costs. This is what Ecommerce Europe had to say in response to the green paper on online payments.
According to Ecommerce Europe, what is particularly important about online payments in Europe, apart from reducing costs, is that a multiplicity of payment solutions will contribute to the cover provided by webshops with respect to consumers. More – and innovative – payment solutions will lead to ease of payment and therefore to conversion. This will cause even more growth in E-commerce in Europe.
The green paper of the European Commission is far too limited to reducing costs. For this reason, Ecommerce Europe will be asking for measures – also in Europe – that will encourage providers to come up with innovative ideas for a whole range of cross-border payment options. An example of this is MyBank, which is yet to be developed.
Ecommerce Europe will be announcing this message on May 4 2012, during a session of the European Commission on this subject.