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December 16, 2008

New era for EUFISERV

Pan-European card scheme EUFISERV Payments is embarking on a new chapter in its history, by announcing the EUFISERV ATM scheme has been fully separated from its former processing business in line with the SEPA requirements of the European Central Bank and the European Commission.

By Verdict Staff

Pan-European card scheme EUFISERV Payments is embarking on a new chapter in its history, by announcing the EUFISERV ATM scheme has been fully separated from its former processing business in line with the SEPA requirements of the European Central Bank and the European Commission. Both elements are now fully SEPA-compliant.  

Currently the EUFISERV ATM scheme provides access to cash to over 67 million cardholders. EUFISERV-branded cards are issued by over 600 participating European banks and are accepted at 68,000 branded EUFISERV ATMs across Europe. The new company’s shareholders are major European banks and bank-owned organisations.

EUFISERV Payments was spun off from the original EUFISERV Scheme into a separate entity at the end of 2007, just before EUFISERV signed an agreement with global payment processor First Data to develop services in order to meet SEPA requirements and expand and develop the European interbank processing network. First Data acquired a 50 percent stake in EUFISERV’s interbank processing business, which has now been renamed as Trionis.

The EUFISERV ATM scheme has also undergone an extensive overhaul of governance arrangements and scheme rules. In further anticipation of SEPA, the scheme is undertaking a number of initiatives aimed at expanding the service it offers to its members, as well as members of other schemes. Already scheme members in Belgium, France, Spain and Portugal accept German debit cards under a bilateral agreement with the German scheme, and other members will follow suit later. Developments are under way to make similar agreements with other schemes for mutual acceptance of each other’s cards.

Wolfgang Adamiok, chairman of EUFI-SERV Payments and head of card strategies at the German Savings Banks Association, said: “We have worked hard to do what is required for SEPA. This work assures continuity of service to our participating banks and cardholders. EUFISERV Payments and its shareholders fully support the SEPA project and are proud to announce their contribution to its success. We trust other schemes will follow and separate scheme management functions from processing; otherwise we will not have a level playing field.”

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