eCommerce Merchants Strike Seamless Payments, Regulatory Balance with Orchestration – PYMNTS.com

Online spending volume has expanded in the past few years, with the value of digital payments worldwide expected to grow at a compound annual growth rate (CAGR) of 15% between 2021 and 2028. This includes both business-to-business (B2B) and consumer-facing payments, presenting intriguing new opportunities for today’s merchants. As online payments become more prevalent, however, lawmakers worldwide are beginning to pay closer attention to digital data security and privacy.

Regulators have therefore stepped up their efforts to keep digital transactions secure, adding new requirements to standards such as the Payments Card Industry Data Security Standard (PCI DSS) — which sets security and privacy guidelines for all companies handling and processing credit card information — that have existed for a decade or more. This includes rules such as the European Union’s 2018 Payment Services Directive (PSD2), as well as the messaging protocol known as 3D Secure which is aimed at strengthening…

Read Full Story: https://www.pymnts.com/news/payments-innovation/2022/ecommerce-merchants-tap-payments-orchestration-to-strike-the-seamless-payment-regulatory-balance/

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