News

Pan-European card payments move a step closer

September 10, 2006

BRUSSELS - The Euro Alliance of Payment Schemes has been established in Europe to give European cardholders and retailers card-payment and cash-withdrawal services without national boundaries.

European bank cardholders will soon be able to use their payment cards for transactions at POS terminals and will be able to make cash withdrawals in other European countries.

The pan-European payment federation will allow European cardholders and retailers to perform card payments and cash withdrawals with national payment cards across Europe.

Pilot programs between founding members should be operational by the end of 2006, with expansion expected in 2007.