Sunday, May 21, 2006

SEPA time: Germans do interconnection pilot....

While the Belgians simply eliminate their local scheme in order to gain EU-wide acceptance by choosing Maestro, the Germans choose to pilot interconnection of existing debit-card schemes. See this press release of German Banks (Payment News). To that end the first letters of intent are signed between:
-EUFISERV, a European supplier of processing services for card payments,
-SIBS, the operator of the ATM and card payment system “Multibanco” in Portugal,
-Raiffeisen Landesbank S├╝dtirol and S├╝dtiroler Volksbank.
To follow are (if all goes well) EURO6000. Dutch Interpay has already announced to join the trial.

And the name of this new interconnecting animal will be: Euro Alliance of Payment Schemes (EAPS...).