The new expert taskforce further boosts Ecommerce Europe’s expertise in digital transactions and online payments, and aims to assess the potential opportunities and challenges on the e-commerce sector brought about by the changing dynamics of the FinTech sector. The taskforce will assist Ecommerce Europe in developing comprehensive strategies on financial and digital services such as digital currencies and trust-services.
The Internet has revolutionized the way people buy and sell goods and services. Rapid developments in electronic payments have, and continue to change the established electronic payments landscape for the decades to come. Through increasingly customer-centric solutions and developments in biometric authentication, new and innovative third-party Payment Providers (TPPs), one-click buy options and wallet solutions market newcomers quickly change consumers’ online purchasing habits and check-out expectations.
“We are observing the biggest change in the online payments landscape since the advent of e-commerce in the 1990s. Customers today expect trustworthy, convenient, fast and mobility check-out solutions as part of their online shopping experience, and merchants are increasingly looking to facilitate their customers. However, European legislators often do not strike the right balance between ensuring customer convenience, technological neutrality and payment security” said Marlene ten Ham, Secretary General of Ecommerce Europe.
“This new online payments taskforce allows Ecommerce Europe to translate current and future market trends in e-Payments and anticipate possible regulatory challenges and opportunities. By having all players of the online payments landscape represented, Ecommerce Europe can effectively and efficiently formulate upcoming European legislative proposals” elaborated Roberto Liscia, Chair of the Ecommerce Europe e-Payments Working Committee.
Ecommerce Europe launched the newly formed expert taskforce at a kick-off meeting in Leipzig, Germany on 9 March, with keynote presentations on the key challenges and opportunities for online merchants as a result of the innovative developments in the online payments landscape.