GRGBanking has announced that its ATM portfolio is now certified to support Germany's GeldKarte. Literally translated as "money card," GeldKarte is a chip-based electronic purse system — essentially a reloadable card account — which is cooperatively maintained and supported by German banks.
The certificate was issued to GRG by the German Banking Industry Committee, which initially certified the GRGBanking ATM Portfolio in 2011. That certification allowed GRG to support cash withdrawal via Girocard and other bank cards based on German regulations and standards.
Girocard is the interbank debit card service and network used throughout the country; virtually every German ATM connects to the network.
GeldKarte is mostly used for small purchases that typically require small change. Among other sectors, it is accepted in public transport, and at parking garages, public telephones, and vending machines. The card can be electronically loaded with up to 200 euros ($272).
A GeldKarte-enabled chip is already embedded in more than 89 million Girocard ATM/debit cards in Germany.
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