European bank customers will be able to use their debit cards across international borders at even more acceptance locations within Europe as of 2007. The German banking industry signed letters of intent with other European partners regarding the launch of a pilot project for the mutual acceptance of their debit cards and the direct bilateral processing of these transactions. The medium-term objective is the interlinking of the existing national debit card schemes.
'With the letters of intent signed today, we have achieved one of the most important milestones in the development of the European card market of the last 15 years', stated Hubert Piel, board member of the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR).
Press release
© ZKA - Zentraler Kreditausschuss
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