10 September 2009 - 10:26
New schemes vital to Sepa for cards success - ECB's Tumpel-GugerellMasterCard and Visa need to be challenged by at least one new scheme if Sepa (Single euro payments area) for cards is to succeed, according to ECB executive board member Gertrude Tumpel-Gugerell.
In a speech at the EFMA conference on cards and payments, Tumpel-Gugerell says a single market for cards is the "missing piece in the Sepa puzzle" and warns Europe needs to overcome the "current stagnation".
Citing research from the ECB and De Nederlandsche Bank, she says a new Europe-wide card scheme could provide a "decisive impetus" to solving interoperability and overcoming fragmentation in the market, benefiting customers and merchants.
There are currently three scheme initiatives and Tumpel-Gugerell has called on those involved to "get down to business now"...
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Aug 13, 2009
MasterCard Inc. and Visa Europe could face competition in the coming years from new European-centered payment card networks such as Payfair and Monnet. Belgian retailer Colruyt Group is planning to begin testing the Payfair debit card ...
Jul 10, 2009
I would suspect that Monnetwould be based on the Chip and PIN system, which is more secure than what Visa and MasterCard have been pushing with their signature debit. I have long said that signature debit should be scrapped in it's
Jul 14, 2009
Several major French and German banking companies are said to be backing the Monnet debit card, and said last week that they expect to create a company then that would focus on building a payments network. See "Is Monnet Painting Visa into a corner?