News

Belgian communications company moves toward SEPA compliance

March 23, 2006

BRUSSELS, Belgium - Eufiserv Sc is moving forward with an ATM card scheme to comply with the Single Euro Payment Area Cards Framework. According to a news release, Eufiserv will to continue to be a part of the European payment system after the launch of SEPA in 2008.

To become SCF-compliant, the scheme will be separated from the company's processing activities. Participating banks will need only a single license.

Support for EMV will be made mandatory and a liability shift-rule will be introduced to encourage early adoption.

"In addition to providing SCF-compliant cash withdrawals at ATMs, as requested by the authorities, additional ATM services for cardholders will be provided, bringing more value for the participating acquiring and issuing banks," said Petter N. Johansen, Eufiserv's managing director. "Coupled with our recently announced decisions to provide services to the wider market, Eufiserv's intent to capitalize on its role as an ATM and POS switch processor of all global and SCF-compliant card schemes is progressing as planned."

Eufiserv provides ATM access to more 70 million cardholders. Its branded cards are issued by more than 600 participating banks and are accepted at more than 60,000 Eufiserv-branded ATMs across Europe.

Read more, EMV standards could slow compliance with 2010 SEPA deadline.