Europe stands to lose €57 billion in economic activity in the first 12 months after SCA takes effect, according to a Stripe study conducted by 451 Research.
The findings are based on surveys conducted with 500 qualified payment professionals at online businesses and 1000 consumers in the UK, France, Germany, the Netherlands and Spain.
European businesses are unprepared for SCA and small businesses will bear the brunt of it
With just over three months to go before SCA is enforced, preparedness remains remarkably low: 40% of businesses aware of SCA say they feel prepared to address its requirements. Most businesses are now racing against the clock to become compliant, with 44% expecting to be ready only on the exact day SCA takes effect (September 14).
SCA will disproportionately impact small businesses: three in five businesses with under 100 employees are either unfamiliar with SCA, don’t plan on bein ..
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