A Finextra member 20 September, 2011, 03:24 0 likes

This needs better branding, how about EBA Step3, or may Eleanor, or even e-payments-plus, just a few names picked out of nowhere?

A Finextra member 20 September, 2011, 07:55 1 like

Dear Sirs,

I guess "the e- payment scheme based on Sepa schemes" means credit transfer payments. In remote shopping, where yoy pay prior to receiving goods, there is a fundamental consumer risk issue neglected by the people that endorse such services. If the delivery does not happen, how can I get back my money from the merchnat that does not want to rectify the discrepancy? A credit transfer does not contain any guarantee for reversing a payment like card payments have. When I have paid, my funds in the merchnat account are protected by the deposit legislatation. If I  shop with my card and I do not receive the delivery, my issuer will give me a refund and compensate it from the merchant´s bank (acquirer) that has to deal with its possibly fraudulent merchant. Without this consumer protection built in it is gross negligence from anybody to consider a launch of "an European e payment scheme".

A Finextra member 20 September, 2011, 09:41 0 likes

Looks like a good alternative for those concerned by card fraud on-line.  Consumer gtee not there but this makes it especially relevant to ensure you are buying from a reputable business, consider that you are paying cash or cheque on-line....

A Finextra member 20 September, 2011, 11:29 0 likes

Yes it's a re-spray of SEPA Credit Transfer, that staggeringly successful financial innovation. Hw are you to know, Mr Steve Robson sir, whether the merchant is reputable or not? Or maybe the buyer's bank should guarantee the refund, and open a warehouse where the buyer can return the goods?

A Finextra member 20 September, 2011, 11:34 0 likes

Why would you ever buy from an unknown provider?  Even Ebay has a system for this.

This offers an option for reputable providers e.g. Amazon to reduce their receivables costs.

A Finextra member 20 September, 2011, 12:33 0 likes

Suppliers of uncertain reputation/financial longevity used over the last month: Crystal Palace FC, supplier of mounting boards for training certificates in Worcester, supplier of kite surfing harness, Air Transat (to fly to SIBOS), Wizz Airlines (to participate in a choir festival in Krakow) etc etc. With a Mastercard I don't need a Dun+Bradsteet report on any of these outfits...  

A Finextra member 20 September, 2011, 12:46 0 likes

So for higher risk transactions use your card and pay the fee e.g. £6 per route for Ryanair's "handling fee".  And worry about your card details being compromised... 

For lower risk purchases there's a more secure push transaction for the consumer with guaranteed payment for the merchant at a lower cost.   Happy to pay this way at Amazon, John Lewis, Sainsburys, HMV, Play.com, Tesco, M&S, Apple etc etc. 

This works already in some countries e.g. Netherlands. 

A Finextra member 20 September, 2011, 13:57 0 likes

Dear Sirs,

Seems that this service is aimed for e comm merchants that do not want to pay acquirers and not taking into account the consumer protection issues. The avoidance of e commerce card fraud is a poor excuse to put all consumers shopping online at the mercy of merchants collecting irreversable advance payments. In corporate business we use rembourses, letters of credit and other means to safeguard that we do not pay until we know that gods are accurate and shipped. In the consumer e comm business we should only "shop at merchants we trust", accept advance payments and trust in the good will of the merchant to be compensated! It sounds like something from Henschel and Gretchen and not the real world. I will stick to card payments!

A Finextra member 20 September, 2011, 14:26 0 likes

Interesting debate but cards only is a very old fashioned view - or one sponsored by Visa/Mastercard. 

Large merchants in particular want another way due to interchange costs and consumers are fed up with surcharges and internet fraud.