In this guest blog, entitled ‘Next steps in the area of online payments – is Europe ready for e-identity?’ (see ‘related links’ below), Marine Sauvaget comments: “Over the past 20 years, traditional commerce has experienced a range of upheavals linked to technological innovation. Of the many advances we have seen in how we do business, the key rests on the development of consumers paying for goods and services online. No longer limited to bricks-and-mortar transactions, e-commerce has developed into a crucial staple of most European Union economies. While crossing the online Rubicon has led to increased choice, lower prices and more optimal markets, many concerns have arisen, not least those surrounding security and identity.”
Ms Sauvaget, who recently conducted a research study on e-identity and the payment industry, further points out: “Payment industry actors, in particular, are realising the enormous potential value of e-identity transactions, the relatively untapped nature of the market, and the potential for decoupling banks’ authentication methods from payments to service a much broader array of contexts.”
“The idea of e-identity is pressing; the translation of that idea into a working reality, however, remains a work in progress,” she concludes.
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