The European banking landscape is on the verge of major changes as the Third Payment Services Directive (PSD3) draws ever closer. This upcoming regulation focuses heavily on increased security measures and poses a challenge for companies that process payments to find innovative approaches to position themselves well in the area of secure payment processing. ehotel®, a leading hotel booking platform for business travel, has also recognised the importance of these upcoming changes and is already taking action to ensure that its customers benefit from the new directive.
The importance of enhanced security: data security, robust customer identification and transaction verification are basic protective mechanisms that are of vital importance both for payments made by card and via accounts. The upcoming PSD3 regulation stresses the importance of advanced security technologies, such as biometrics and multifactor verification. Companies that invest in these technologies earn the trust of their customers while ensuring a high level of privacy, thus establishing themselves as a leading provider in the area of secure payment processing.
When it comes to accepting new payment methods, customer experience is key. The user experience for card-based payments is already impressive, particularly in the business sector. Convenient and fast payments made via smartwatches are just one example of this. When developing new payment methods, it is important to take into account both the online experience and the payment experience so that individual customer needs can be met.
In May 2022, the European Commission began a targeted consultation to initiate a comprehensive review of the Second Payment Service Directive (PSD2) and thus take a step towards PSD3. This step marks the start of a possible realignment of the current rules, leaving scope to introduce PSD3 in the near future. In preparation, ehotel® has already been actively getting ready for the upcoming changes.
The benefits for ehotel® customers: while ehotel® currently complies with PSD2, the company has kept an eye on the imminent tightening of the Payment Service Directive and is making the necessary preparations. Adapting to the new directive will ensure that ehotel® customers remain unaffected by the changes. It is extremely important to the company that it continues to offer its customers first-class services and meets all the requirements set out in PSD3 to allow ehotel® customers to benefit from optimised processes, comprehensive expenditure control, compliance and cost savings. By integrating special tools and services into the company systems as well as ehotel’s own payment and billing solutions, the company enables business customers to manage their hotel bookings holistically and efficiently.
ehotel® understands that the Payment Service Directive will be tightened soon and is aware that this will inevitably mean new challenges for business travellers and companies. The main focus is on preparing customers for the upcoming changes in good time to ensure that payment and booking processes run smoothly.
By automatically making PSD3 adjustments, ehotel® customers are guaranteed to benefit from it right from the start, meaning their business trips will be able to continue without interruption or any inconvenience.
Our goal is to offer our customers the best possible service at all times and to support them in managing the impact of the Third Payment Services Directive.
Summary: the imminent introduction of PSD3 will have a far-reaching impact on companies and how they process payments. An increased focus on enhanced security measures requires companies to use advanced technologies to earn their customers’ trust. In this regard, ehotel® has positioned itself as a trailblazer by already making preparations for the upcoming changes. By automatically making PSD3 adjustments, ehotel® has ensured that its customers benefit from the new provisions. The seamless integration of tools and services enables companies to manage their payment processes efficiently and seamlessly. With optimised processes, complete expenditure control and first-class service, ehotel® will continue to offer its customers high levels of satisfaction, while meeting the new requirements.
Benefit from ehotel®:
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Discover how we offer you optimised processes, complete expenditure control and first-class service:
Find out more about the security of your payment data and the protective measures at ehotel®: https://www.ehotel.de/en/content/unternehmen/sicherheit/
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