The European Digital Payments Industry Alliance (EDPIA), together with the European Fintech Association, Open Finance Association, Payments Europe, Electronic Money Association & the Computer & Communications Industry Association, have co-signed a letter which aims to ensure the proposed European Payment Services Regulation protects efficiently consumers and merchants against payment fraud.
The joint letter notably highlights the need for a holistic and systemic approach in addressing fraud by bringing together public and private actors, including payment services providers but also electronic communication service providers and online platforms. Additionally, the letter also stresses the need for a common interpretation of key concepts in payment frauds, such as the gross negligence and the authorisation of a payment transaction.
