Business
“EUROPE RISKS BECOMING A WALLED GARDEN OF COMMERCE” WARN PAYMENT RISK EXPERTS

Europe’s first chargeback remediation specialist launches new white paper to help global retailers understand new European regulations: DSM, PSD2 and GDPR
The Chargeback Company today warns of the threat of eCommerce isolationism brought on by new legislation in Europe: the Digital Single Market, the Revised Payment Services Directive, and the General Data Protection Regulation.
Created by Monica Eaton-Cardone, co-founder of The Chargeback Company, and in collaboration with PiPL, ACI Worldwide, Kount and the Emerging Payments Association, the latest white paper addresses the potential commerce “walled garden” cause and effect of reformed regulations, and the changes businesses can expect, both inside and outside of Europe.
Eaton-Cardone explains, “For those based outside of the EU, European consumers may be made untouchable due to the cost of compliance, privacy and competition. Understanding that security is a top priority and restricting commerce may come as an unintended, much larger, consequence.”
The initiatives come into play over the next few months. With little time left to act, many claim the combination of competing regulations has gone too far.
Experts agree that constructing digital walls incites fear and may cement eCommerce isolationism. While it is estimated that 75 percent of the potential economic benefits from the digital transformation will be felt by Europe’s industries, benefits may fall short for retailers outside the region. Increased security protocols should work to support trading sustainability and growth. But, by restricting movements that have facilitated success in other markets, the reverse may be an undesired result.
Demand for innovation
The growing polarisation for new payment and commerce choices between millennials and baby boomers is resulting in a move towards innovative friction-free payments over traditional methods – a significant shift favouring speed over security concerns.
Fear regarding transaction security or potential fraud among consumers appears to be more focused, with concerns mainly centred on privacy, Payment Initiation Service Providers (PISPs) and third-parties. Nonetheless, a survey of the UK public found the majority of consumers (53 percent) maintain they are comfortable with PISPs, whilst a staggering 70 percent would not trust third-parties.
The demand for innovation supersedes consumer education as barriers between safety and speed begin to fade. But new entries into the payment world could mean an increase in transaction disputes and subsequent chargeback activity.
Already a focus for concern, chargebacks for online transactions in the UK have surged by 20 percent, despite card-not-present activity increasing by just 7.5 percent.
“One of society’s greatest threats doubles as a market maker,” explains Eaton-Cardone. “Social networks take news to the next level – whether it’s beneficial or detrimental. When it comes to consumer behaviour, a re-education process is required. Regulations will help, but without a more standardised approach to consumer schooling, this trajectory is dim.”
With better understanding, business owners can leverage the changing legislation to their advantage. Knowledge about the facts and, most importantly, the effects could not be more relevant for stakeholders and retailers alike.
This regulatory shift will affect businesses around the world. In the new whitepaper, The Chargeback Company, working with leading fraud solutions, payment technology experts, and SME use cases, aims to explain how.
Business
Northern Irish Brexit issue is two-way street, says EU’s Sefcovic

BRUSSELS (Reuters) – Britain must show it is fully using the avenues available under the Brexit divorce deal to minimise trade disruption in Northern Ireland before seeking concessions, a senior EU official said on Tuesday.
Britain’s exit from the EU’s trading orbit in January has created trade barriers between Northern Ireland – which remains in the EU’s single market for goods – and the rest of the United Kingdom.
Maros Sefcovic, a vice president of the European Commission, said he hoped to learn of British efforts during an online meeting on Wednesday .
“I was also reminding my British partners that this must be a two-way street,” he told a news conference.
Sefcovic said real-time access to the IT systems of customs could smooth customs processes and a trusted trader scheme could ensure Northern Irish supermarkets were properly supplied.
“I hope that tomorrow… we will get feedback from our UK partners on how all these flexibilities and grace periods are being used because it’s clearly a pre-requisite for the EU, the Commission and the member states to assess any further requests,” Sefcovic said.
The EU’s insistence on Britain honouring its withdrawal treaty has left the British province of Northern Ireland within the EU’s single market and put a customs border in the Irish Sea dividing the province from mainland Britain.
Sefcovic said that there were inevitable consequences of Brexit so not everything could be resolved.
Members of Northern Ireland’s two largest pro-British parties have said they are set take part in legal action challenging part of Britain’s divorce deal.
However, Sefcovic said companies there might over time see the divorce arrangements as an advantage.
“Being in the single market and at the same time the internal market of the UK is actually a great business opportunity. And I hope that our joint work will amplify this possibility,” he said.
(Reporting by Philip Blenkinsop. Editing by Mark Potter)
Business
Calabrio charts record year-on-year UK growth as demand for cloud technology soars during lockdown

Digital transformation acceleration drives cloud contact centre adoption of Calabrio workforce engagement management technology
Calabrio, the workforce engagement management (WEM) company, has seen a strong growth trajectory in the UK during the last 12 months, despite the global pandemic. Achieving 30% year-on-year sales growth, Calabrio International has welcomed more than 150 new customers, with the UK adding a third of those from a wide range of industries including many online challenger businesses. In addition, Calabrio has made strategic new appointments to build its customer support network.

Kris Mckenzie
Kris McKenzie, SVP, Sales, International at Calabrio commented, “Our focus on cloud-first solutions has resonated well with our customers’ need to accelerate their digital transformation and move their contact centres to the cloud in order to maintain business continuity. At a time of uncertainty when consumers need robust support more than ever before, we are witnessing first-hand the cloud transformation of customer services by organisations looking to deliver the next level in customer experience. Modern businesses and contact centres using Calabrio are able to provide exceptional service to their customers through disrupted times.
“Coupled with businesses operating solely online, we have also seen strong demand across the board from more traditional sectors such as finance, insurance, retail, consumer goods, local and central government departments. These organisations require an innovative yet reliable solution to help them manage unprecedented levels in demand.”
When Calabrio surveyed its customers recently[i] 72% of organisations stated they are either moving to the cloud, are already there or plan to increase their investment in cloud technology in 2021. In order to support forward-thinking organisations looking to optimise their investment in cloud contact centre solutions, Calabrio has made two significant appointments.
Niall Gallacher has joined Calabrio as Business Intelligence (BI) strategic consultant and will be instrumental in the design of services that drive value from data and analytics, helping Calabrio customers to solve complex business problems. Before joining Calabrio, Niall spent 6 years with Qlik as Industry Solutions Director. He has 25 years of experience in data, analytics and BI, 15 of which have been with contact centres for leading companies in telecommunications, energy and high-tech industries.
Graeme Gabriel joins as a presales engineer, supporting Calabrio’s workforce engagement suite. He will work with customers to ensure that they achieve maximum benefit from their use of Calabrio solutions, no matter the remote, on-site or hybrid environment. Graeme has international experience encompassing telephony, contact centre, WFM, analytics and customer experience (CX) across a range of sectors, and has held consultancy, advocacy and planning positions at companies including Injixo, Vluent, QPC and AVIOS.
McKenzie concluded, “We welcome both Niall and Graeme to Calabrio, during what has been an incredible year of growth for Calabrio as we supported our customers through these challenging times. This is an exciting and dynamic time for Calabrio as we continue to deliver the value of our all-in-one cloud contact centre suite, including call recording, quality management (QM), WFM, speech analytics and business intelligence suitable for organisations of all shapes and sizes.”
[i] TechValidate survey of 192 users of Calabrio. Published 29 December 2020.
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Business
Thomson Reuters fourth-quarter revenue, adjusted earnings rise

NEW YORK (Reuters) – Thomson Reuters Corp reported higher fourth-quarter revenue on Tuesday and said it would start a two-year program that will change it from a holding company to an operating company.
The news and information company, which owns Reuters News, said revenues rose 2% to $1.62 billion, while its operating profit jumped more than 300% to $956 million, reflecting the sale of an investment, a gain from an amendment to pension plan and lower costs.
Its three main divisions, Legal Professionals, Tax & Accounting Professionals and Corporates, all showed higher organic quarterly sales and adjusted profit.
It was not immediately clear if adjusted earnings per share of 54 cents were directly comparable to the 46 cents expected.
Thomson Reuters’ markets are healthy and evolving, making this a good time to transition the company from a content provider to a “content-driven technology company,” Chief Executive Steve Hasker said in a statement.
Workplaces have been transformed by the COVID-19 pandemic and artificial intelligence has a larger role in professional markets, he said.
(Writing by Nick Zieminski in New York, editing by Louise Heavens and Jane Merriman)