Euro Alliance of Payment Schemes

The Euro Alliance of Payment Schemes (EAPS) is an international alliance of European bank and interbank networks with the aim of creating a pan-European debit card system. The Brussels-based consortium, formally announced in July of 2007, [ [http://www.card-alliance.eu/Documents/November_2007_01.pdf Press release] , card-alliance.eu. (November 2007) Retrieved 2008-08-04.] includes such members as Electronic Cash in Germany, PagoBancomat/Bancomat in Italy, Multibanco in Portugal, EURO 6000 in Spain, Link in the United Kingdom and EUFISERV, an ATM system operated internationally by the European Savings Banks Group. [ [http://www.atmmarketplace.com/article.php?id=8839&prc=4&page=34 SEPA for cards on way to reality in Europe] . (23 May 2007) atmarketplace.com. Retrieved 2008-08-04.] [ [http://www.eufiserv.com/site/about.asp About] , EUFISERV official site] ] Though not allying itself with EAPS, the European Central Bank spoke in February of 2007 in favor of the work being done by EAPS as "the first step towards a consolidation of card schemes, leading to a European card scheme". [Tumpel-Gugerell, Gertrude, Member of the Executive Board of the ECB Colloquium. (February 13 2007) [http://www.bancaditalia.it/sispaga_tesor/ssp/sepa/int_com/punto_vista/The%20European%20Central%20Bank%20s%20view%20on%20SEPA.pdf The European Central Bank's view on SEPA] bancaditalia.it Retrieved 2008-08-04.] Prior to the implementation of the EAPS alliance, only MasterCard/Maestro and Visa/V-PAY debit cards could be used abroad in Europe. [Kenny, Peter. (June 21 2007) [http://www.thriftyscot.co.uk/062007/banks-announce-low-overseas-debit-withdrawal.html Banks announce low overseas debit withdrawal] thriftyscot.co.uk. Retrieved 2008-08-04.] EAPS was first initiated particularly to challenge Mastercard's hold on international debit payments. [Wissenbach, Ilona. (June 20 2007) [http://www.reuters.com/article/companyNewsAndPR/idUSL2081352320070620 European banks agree corssborder Mastercard rival] Reuters. Retrieved 2008-08-04.]

According to European Card Review, EAPS is expected to play a less pivotal role in spreading the Single Euro Payments Area initiative than larger schemes such as the "Falkensteiner Group" which they believed to include UniCredit, Société Générale, ING and Deutsche Bank, but is nevertheless capable of a "marginal" role. [ [http://www.europeancardreview.com/CardNotes/CardNotes_01.html Debit cards: pressure continues for third scheme in Europe] (2007) European Card Review. Retrieved 2008-08-04]

References

External links

* [http://www.card-alliance.eu/ Official site]