BdB: German banks and savings institutions offer e-cash scheme across Europe

21 September 2005

The German banking industry will offer its “electronic cash” card payment system to banks and customers across Europe in future. According to the Zentraler Kreditausschuss (ZKA), this means that Germany’s banks and savings institutions are first to provide a simple and convenient means of payment for the Single Euro Payments Area (SEPA).

The European Payments Council (EPC) presented on the same day the SEPA Cards Framework (SCF), which defines general requirements for card schemes throughout Europe. The ZKA points out in this context that the “electronic cash” scheme meets all the requirements of the SEPA Cards Framework.

The German banking industry is convinced that the “electronic cash” scheme is thus an attractive option for banks and system operators in Europe wishing to meet the EPC requirements. Participation in the “electronic cash” scheme or an alliance with the German banking industry are open to all banks and undertakings.

Press release

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