Issuer (E-money)
An E-money issuer is a regulated entity that creates and manages electronic money, storing monetary value on behalf of users. In the UK and EU, such issuers must be authorised under the Electronic Money Regulations. Unlike banks, EMIs do not offer interest-bearing accounts or credit facilities.
Applications
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
Advantages
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
Challenges
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
