New web rules ‘will hit bookings’ Ian Taylor
Amadeus has warned new EU anti-fraud rules risk “massive loss of business” for online retailers despite the UK regulator’s decision to delay enforcement. An EU requirement for Strong
Customer Authentication (SCA) on e-commerce payments over £30 means card issuers could decline transactions without two-factor authentication from September 14. Jean-Christophe Lacour,
Amadeus head of merchant services, said: “We don’t know what the decline rate will be” but insisted the firm “would be ready as a GDS and payment provider” despite confusion about how regulators
will enforce the rules across Europe. SCA marks the final phase of EU
Payment Services Directive 2 (PSD2) and aims to cut online payment fraud, which is up to six times the rate of offline card fraud, despite banks and retailers already using 3D Secure authentication online. It applies to card issuers and acquirers, which process card payments, and means secondary authentication of payments before sales goes through. Lacour said: “From September,
a [card] issuer could decline any transaction [over £30] without two-factor authentication. Tis could have a serious impact on conversion rates for a business that does not do a lot of authentication [now].” He explained: “Te fraud rate on
be double” the 3D Secure rate or six times the average. Lacour noted “authentication
Card
payments over £30 could be declined
e-commerce is 10p-12p per £1 [with 3D Secure]. It varies by industry and merchant [but] that is the reality.” Tat compares to an average 4p per £1 on all sales. However, fraud on non-3D Secure transactions “could
cuts conversion” and said: “Some merchants screen transactions and decide fraud is a low risk. Amazon has built [its business on] one-click shopping.” Te UK regulator, the Financial
Conduct Authority, has said it won’t take immediate enforcement action from September. But Lacour warned: “It’s not clear all [EU] regulators take the same view.” However, he insisted: “We’ll
be ready for online agents and we encourage them to be. Tey can trigger [customer] authentication
and we pass it on.” i Business, back page
ItsSo Travel wins shop lease worth £100k
Juliet Dennis
When ItsSo Travel owners Claire and Paul Welling read about a competition to win a 12-month shop lease worth £100,000, they decided they had nothing to lose. Te husband and wife team took
the plunge, employing an interior designer to come up with a blueprint for their concept store. Te gamble paid off. Te Global Travel Group agency of four
4 25 JULY 2019
years, which has a store in St Ives, Cambridgeshire, this week won the prize in the competition to trade at Te Graſton shopping centre, following its £28.5 million refit. ItsSo Travel’s 1,200sq ſt store
will open, free of rent, rates and services for a year, in November. Competition was stiff: 76
businesses entered the Grow at Te Graſton competition, with nine facing a Dragon’s Den-style grilling. “Te pitch was nerve-wracking,” said Claire. “Tere were tough
questions on how we’d fit in and our point of difference, but customer feedback buoyed us to take the next step. We wanted another store and thought, ‘why wouldn’t we stand a chance?’” She added: “It is amazing to
win! Te store has a different look and feel from any agency in Cambridge. It will be a journey when you walk in the door, where there will be someone to meet and greet customers.” Te departure lounge-style
agency will have a coffee bar, sofas
The Grafton centre’s John O’Shea welcomes Paul and Claire Welling
and a 65-inch interactive screen where clients can scroll through e-brochures before talking to agents in ‘enclosed’ booking pods. Graſton manager John O’Shea
said: “Tey will bring a completely different offering to our shoppers.” Te couple, who opened their first
bricks-and-mortar agency two-and-a- half years ago, hope their second will stay aſter the free period. “We are hoping to be [there] long
term. We have looked at the figures and think we can do it,” added Claire.
travelweekly.co.uk
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