Mission Statement

Pursuant to the article L. 141-4 of the French Monetary and Financial Code and the Decree of 2 May 2002, the Observatory has a threefold responsibility:

It monitors the implementation of measures adopted by issuers and merchants to strengthen payment card security. It keeps abreast of the principles adopted with regard to security as well as the main developments in this area.

It compiles statistics on fraud on the basis of the relevant information disclosed by payment card issuers to the Observatory's secretariat. The Observatory issues recommendations aimed at harmonising procedures for establishing fraud statistics for the various types of payment card.

It maintains a technology watch in the payment card field, with the aim of proposing ways of combating technological attacks on the security of payment cards. To this end, it collects all the available information that is liable to reinforce payment card security and puts it at the disposal of its members. It organises the exchange of information between its members while respecting confidentiality where necessary.

In addition, the Minister of the Economy and Finance may request the Observatory's opinion on various issues, setting a time limit for its response. These opinions may be published by the Minister.