FinTech Catalyst Report

Unaware, unprepared and paralysed: Retailer readiness for PSD2

Research from independent technical consultancy Consult Hyperion and CCgroup reveals that major tier one and tier two UK retailers are unaware, unprepared and paralysed ahead of the Second Payment Services Directive (PSD2) coming into force on the 13th January 2018.

This unique study of 30+ major tier one and tier two UK retailers, provides new insight into the opportunities and threats for retail technology providers, and reveals the worrying statistics about just how unprepared retailers really are:

  • Only 16% are seeking to ‘take advantage’ of the new regulation
  • 67% of retailers don’t think PSD2 will have much of an impact
  • On average only a third of retailers can confirm they’ll take action

With little time to get up to speed and capitalise, there is a window of opportunity for retail technology vendors to help merchants react to PSD2, while helping themselves win new business, but this window will close fast.

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