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EU online payment rules to be reviewed, but only after implementation, says Dombrovskis

By Jack Schickler ( September 24, 2020, 14:47 GMT | Insight) -- E-commerce stores won't get any extension to an end-2020 deadline to switch to new EU online payment security protocols, Valdis Dombrovskis said today. The European Commission will also review and extend open-access provisions in the second Payment Services Directive, he said, after the payments industry warned that forcing new authentication norms on an unprepared sector could cause a drop in online sales worth over 100 billion euros.EU online payment security rules could be reviewed if they aren’t working, but the European Commission has no plans to further delay an end-2020 deadline for e-commerce stores to switch to the new protocols, the bloc's financial-services chief said today....

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