Consumer protection in respect of online electronic payments under EU law : is it enough to enhance consumer confidence in the internal market?

Abstract

The purpose of this thesis is to evaluate whether the online consumer is adequately protected by the European legal framework within the context of online electronic payments. The persona of the 'confident consumer' within the internal market is widely acknowledged by European bodies as the key to effective functioning and economic growth within the European Union. Accordingly, the study focuses on the nexus between adequately protecting the online consumer when executing online electronic payments and the enhancement of consumer confidence within the internal market. In the context of the internal market, electronic commerce has facilitated access to cross border goods and services. However, with regard to consumer protection, electronic commerce has also brought about innovative challenges, including the protection of consumer interests while executing online electronic payments. This research seeks to outline the primary barriers for consumers to electronic payments and examines whether the European legal framework effectively protects the online consumer, especially against monetary loss and loss of privacy. The Payment Services Directive regulates payment services within the internal market and provides a legal foundation for the establishment of a Single Euro Payments Area. This thesis critically analyses this common legal framework and assesses whether the consumer is sufficiently safeguarded within the payments market. Throughout the thesis, the author also includes suggestions for improvements and innovations relative to online electronic payments aimed at promoting consumer confidence within the internal market.