August 18th 2021
Strong Customer Authentication (SCA) – Impact Assessment – July 2021
CMSPI’s insights team has been analysing retailer Strong Customer Authentication data to show the potential sales at risk and overall readiness of the industry.
Our analysis of July data yields an estimated European failure rate on transactions of 24% compared to 25% in June 2021.
Although the improvement will be welcomed by merchants, the estimated failure rate is still higher than what the industry is aiming for.
Key Findings in This Update Include:
- Estimated average failure rate in Europe at 24% in July
- Estimated annual sales at risk of €75 billion, over 40 times the value of fraudulent transactions in the SEPA region in 2018
- The failure rate for Belgium is estimated to be at 42%, significantly higher than the European weighted average of 24%