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mhsuffolk

Who in the EU has heard of this new layer of security for online shopping?

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By September 2019, EU and UK banks will be requiring a secondary password check by mobile phone for online transactions over £27 or 30 euro. Whilst accepting the fact that probably the majority of transactions are performed using a mobile, there are many millions that are not. If you live, or are in, a poor or no signal area then you are stuffed. Appallingly the suggested alternative is to use PayPal! Another chance for their extortionate fees and kangaroo court mentality to cripple a small business. This impacts all EU online traders and will probably come to the US eventually. Further details in this news article.

BBC News Article


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Must be a slow news day 😂 Like a lot of news articles it’s simply a one sided report looking for click!

FROM WHEN DOES THE REGULATION APPLY?

It has applied since 12 January 2016. EU countries have to incorporate it into national law by 13 January 2018.

If you actually go and read the directive or even just the summery you will see it’s very good for both small businesses and consumers.

 

Just a few key points.


 

  • It seeks to open up payment markets to new entrants leading to more competition, greater choice and better prices for consumers.

  • strict security requirements for electronic payments and the protection of consumers' financial data, guaranteeing safe authentication and reducing the risk of fraud;

  • The directive is complemented by Regulation (EU) 2015/751 which puts a cap on interchange fees charged between banks for card-based transactions. This is expected to drive down the costs for merchants in accepting consumer debit and credit cards.

  • These rules seek to ensure that these players can compete on equal terms, leading to greater efficiency, choice and transparency of payment services, while strengthening consumers' trust in a harmonised payments market.

full summary below.

https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=LEGISSUM:2404020302_1&from=EN


 

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" It seeks to open up payment markets to new entrants leading to more competition, greater choice and better prices for consumers."

Tell PayPal that then and see if they can become competitive.

This is another example of unelected bureaucrats imposing their will on EU countries, look at GPDR and the cookie regulations if you want other examples.

 


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1 hour ago, mhsuffolk said:

Tell PayPal that then and see if they can become competitive.

 😊 I've been using PayPal for over 15 years and never had an issue with them, I also find the service to be very good and competitive. I suppose it’s all down to expectations.

If you look at the total cost of a transaction you will see that there is very little difference between the main providers. When it comes to banking it’s a case of better the devil you know!

New providers are coming onto the market now and hopefully this will continue and force the big boys to play nice?

HMRC introduces this system some time ago. In order to make a VAT return or submit end of year accounts I now have to login to the HMRC portal and then can only continue by entering a code they text me on my mobile.

I think I was given a choice between phone, email or mobile for this extra layer of security.

My banks have been using this for several years now but slightly differently, When ever I set-up a new payment or debit I have to use a special card reader which produces a special code that has to be entered to prove it’s me doing it.

It’s a total pain and hopefully this will be replaced by the text in the future.

Even now when I make a payment over a certain amount I receive text confirming the payment asking me to report it if it not me. So this text confirmation is simply a extension of this current system.

Edited by JcMagpie

 

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PayPal is OK for the larger trader as the rates drop down. My website would fall into PayPal's 2.9% rate and during quiet times 3.4%. I use Stripe at 1.4%, which is a significant difference. That is my problem with PayPal. Small traders are penalised heavily.


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1 hour ago, mhsuffolk said:

This is another example of unelected bureaucrats imposing their will on EU countries, look at GPDR and the cookie regulations if you want other examples.

You are a bit wrong in your above statement, as those regulations affect everyone not just those in the EU. Its those that sell to consumers in the EU.

All of these have been good for both business and consumers. A business has had to make a few changes, but nothing that has been detrimental to their business. They were all created to make sure that businesses were treating customer information correctly. Now all consumers know that their information is safe, they know how it will be used, and they know that it is secure. Where is the bad in that. Only businesses that don't care have anything to complain about. Gary produced some really good modules for oscommerce which makes things really easy for the store owner.

You also missed another important one off your list and that is discrimination. It comes into effect on the 3rd December. https://ec.europa.eu/digital-single-market/en/faq/geo-blocking.

And what about article 13. Its designed to protect those that create unique content, so what's bad in that. Only those that use others content illegally have something to complain about. If you use someone else's material then you should really pay for that use. Its not wrong, its just business.

The worse one has been VAT MOSS and electronic services, but that was done to stop the big boys that ultimately affected smaller suppliers and should really be changed to let the small businesses off, or at least some leeway.


REMEMBER BACKUP, BACKUP AND BACKUP

Before installing the official version of oscommerce first look at a responsive version here

It's very easy to over complicate what are simple things in life

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None of the third party payment systems are perfect, however I prefer to deal with someone with a known track recorded. Plus the money is yours to use and move as soon as it clears (not 7 days later!).

Read some of the recent reviews and comments on stripe!

Stripe Payments Review & Complaints 2018 | Expert & User Reviews


 

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7 hours ago, mhsuffolk said:

Whilst accepting the fact that probably the majority of transactions are performed using a mobile, there are many millions that are not. If you live, or are in, a poor or no signal area then you are stuffed.

Being in the US, I'm not (yet) affected by this sort of thing, but it brings up an interesting point. I'm seeing more and more validation schemes and security measures being pushed on me that require a cell or smart phone (some sort of texting or SMS involved, I guess). I live in the wilds of upstate New York, and the nearest reliable cell signal is about 3 miles (5 km) down the road. I'd love to ditch my landline and just have a smart phone, but short of nationalizing telecom in order to get 100% coverage, it will probably be a while before I get service.

Why can't they just have an alternate method where you can dial in and use a touchtone keypad to enter a code? Is anyone out there still actually using a rotary dial phone? Until a couple decades ago there were still some small independent phone companies in the US where you cranked the handle and asked the operator to connect you! Really.


If you are running the "official" osC 2.3.4 or 2.3.4.1 download, your installation is obsolete! Get (stable) Frozen or (unstable) Edge. See also the naming convention and the latest community-supported responsive "Edge" release

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