European Commission announces no delay for SCA implementation

Following the Financial Conduct Authority’s announcement of a delay to 14th September 2021 for the UK, merchants across Europe had hoped for a similar reprieve from the EBA and European Commission.

The impact of COVID-19 on SCA preparations has been significant, prompting many in the payments industry to call for additional time to allow merchants to re-focus efforts on SCA, after the disruption caused by the pandemic.

During this tumultuous period, merchants have needed to focus on survival and revenue driving opportunities. As a result, there has been an internal shift of focus to ensuring their online ecommerce is working, as well as governments mandating access for vulnerable people – which has naturally taken up IT resource.

The FCA in the UK granted an additional six months following successful campaigning for a delay by merchants, merchant advocates and representatives from the wider payments industry. This additional time is estimated to prevent EUR 17 billion in lost sales for online retailers, at a time when the online channel has become vital to survival for many merchants.