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18th June 2019

Venue:
Event Postponed

Date: 18th June 2019

Time: 9:00 - 15:00

Future of Payments Conference - POSTPONED

FUTURE OF PAYMENTS CONFERENCE - POSTPONED 

Our apologies, but we have taken the decision to postpone next week’s Future of Payments Conference; a decision that we have not taken lightly.

In Vendorcom’s role as a collaborative movement for change that is driving a positive future for consumer payments, we have for some time recognised that consumer payments is under threat from the Regulatory Technical Standards for Strong Customer Authentication. You will be aware that we have recently been focusing our time in lobbying the FCA, HM Treasury, UK Government, MPs, EBA and European Commission to ensure a transitional approach to the enforcement and implementation of the Standards, over a period of 18 months from September 14th, rather than the hard deadline that exists at present. The culmination of this work is a series of meetings over the next couple of weeks with the FCA, various MPs and European bodies to put forward the case for a different approach to the deadline and also a review of a number of key merchant sectors/scenarios which could currently be negatively impacted by the standards as written. This has meant that we haven’t been able to devote the amount of time that we would have liked to developing the conference programme and promoting it to ensure the widest possible audience.

Given the potential negative economic impact of the status quo in relation to the RTS for SCA, with UK figures continuing to suggest a post 14th September remote payment decline rate of 25-30%, we have decided that working to mitigate this potential negative impact is where our priorities should be placed on behalf of our members.

This is not to say that there isn’t a lot else happening right across payments – there is, however, this is the single biggest issue of the moment, with the greatest potential for negative effect and the one with the most pressing deadline, therefore, we believe that it’s in the best interests of the industry as a whole if right now, we continue our focus on ensuring that the positive future for consumer payments that we are all striving for is able to continue uninterrupted – and that we revisit the Future of Payments Conference after the summer, once the landscape for enforcement and implementation of SCA solutions has become clearer.

We’d particularly welcome your support and engagement as we continue to make sure that we deliver a moderate, well informed voice from the widest possible group of stakeholders. You can follow Paul on LinkedIn to find out more about our SCA campaign (#SCAday).

I hope you’ll understand our reasons for taking this decision and that you’ll be able to join us when we confirm a new date for the Future of Payments Conference.

If you’d like to discuss any of the information included in this email, or have any thoughts that you’d like to share with us regarding the RTS for SCA, please do not hesitate to contact Paul at (paul.rodgers@vendorcom.com) or on 07785 502605.

 


 

Registration for this event has now closed.

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