As e-commerce rises globally, consumers are utilizing electronic payment methods more frequently to execute purchases. (Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images) LightRocket via Getty ImagesCard not present fraud has slowly risen alongside this e-commerce boom. In Europe, nearly 10% of all consumer payment transactions are executed through a digital device, according to Euromonitor International. Under the SCA ruling, merchants, banks and payment processors will have to implement two-factor verification on electronic transactions over €30. Regardless of the potential delay in implementation, the e-commerce checkout experience will become more complicated in Europe very soon in the name of reducing rising fraud rates in the e-commerce era.

Source: Forbes July 17, 2019 16:07 UTC