Consumers of online shopping often secure their payments via a code received by SMS they must copy in a dedicated window. This system, considered less secure by the European Commission, was supposed to disappear on Saturday and be replaced by a new device. Julien Lassalle, Secretary General of the Observatory for the security of payment instruments at the Banque de France, explains to the micro of Europe 1 why the application of the European regulation has been delayed.
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The regulation was stopped in March 2018. The banks had 18 months in all to prepare and think about new solutions to secure online payments. Today, however, they are still not ready. "During this period, clarifications were needed, especially on the technological choices that would be valid in the eyes of the European Banking Authority," says Julien Lassalle. "It has shortened the time to prepare, but now there are solutions, but we have to give the banks time to deploy them to their customers."
"It took ten years to contactless to win"
The problem does not only come from banks but also from consumer trends. "Payment habits are very slow to change," the expert analysis. "It took ten years to contactless to win!" At the origin of this phenomenon in particular, the fear of a security risk when using new technologies.
"We will never reach the level of security of a payment at the point of sale because we have no payer in front of us, or certified terminal that validates the chip of the credit card, or PIN", admits Julien Lassalle. "But the technologies that have been deployed have made it possible to reach very satisfactory levels." He recalled that in 2011, the average was 1 euro of fraud for 300 euros of transactions on the Internet. Today, the report is of the order of 1 euro for 600 euros of transactions on the Internet.