scheme
The Euro Alliance of Payment Schemes (EAPS) has answered calls made
by the European Central Bank for the creation of at least one more
debit card scheme in Europe. In a move that will create Europe’s
third debit card scheme, rivalling MasterCard’s dominant Maestro
scheme and Visa Europe’s V Pay scheme, EAPS has formed a company
that will enable cross-border POS and ATM transactions to be made
using cards issued by domestic card schemes. Brussels-based, the
company bears the EAPS name.
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“With the founding of EAPS, we’ve achieved a milestone for a single
European card payment area,” said Oliver Hommel, EAPS’s
co-ordinator. “The EAPS will develop into a new pan-European card
payment scheme based on the efficient national schemes and their
infrastructures.”
Key EAPS objective
Creation of a third European debit card scheme fulfils a key
objective of EAPS, which was formed in 2006 with the objective of
enabling participating schemes to offer their member banks an
alternative for pan-European card payments, no longer requiring
co-branding with international card schemes.
The founding partners of the EAPS are: Eufiserv, a pan-European ATM
scheme; Euro 6000, a Spanish card payment scheme; Link Interchange
Network, the inter-bank ATM transaction switching unit of UK
payments processor VocaLink; Cogeban, the Italian bank-owned
payments organisation operating the national PagoBancomat debit
card and Bancomat ATM card systems; European Payment Card Solution,
representing Germany’s national electronic cash scheme and its ATM
network, Deutsches Geldautomatensystem; and Sociedade Interbancária
de Serviços, Portugal’s automated clearing house owned by the
country’s retail banks.
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By GlobalDataEAPS noted that its founders are key European market participants
boasting a total of 222 million issued payment cards and operating
2.1 million POS terminals and 189,000 ATMs in their networks.
Roll-out of the EAPS begins in the countries of EAPS partners on 1
January 2008. Direct participation by individual banks in EAPS will
become possible later that year.
