Saturday, May 20, 2006

Belgium chooses for Maestro to replace local brand

Belgian newspaper Standaard informs us that Febelfin, the Belgian Finance Federation, and Banksys, operator of the entire Belgian debit card system, announced that the Belgian banks chose to replace the national Bancontact/Mister Cash (BC/MC) system for domestic card payments and money withdrawals by 2008 with the issuance of Maestro cards, MasterCard's debit card mark. This is all a part of the move to SEPA.

The press release informs us of all the benefits. And there is a slight hint that the prices may rise:
It goes without saying that investments will have to be made for the switch-over from BC/MC to Maestro. The Belgian banks and Banksys will cooperate with all parties concerned in order to ensure a smooth switch-over. Good coordination between the representatives of the parties concerned will make it possible for the Belgian users to switch to SEPA without any major problem.