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 2007,^[1] 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.^[2][3] Though not allying itself with EAPS, the European Central Bank spoke in February 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".^[4] Prior to the implementation of the EAPS alliance, only MasterCard/Maestro and Visa/V-PAY debit cards could be used abroad in Europe.^[5] EAPS was first initiated particularly to challenge Mastercard's hold on international debit payments.^[6]

According to European Card Review in 2007, EAPS was 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 was nevertheless capable of a "marginal" role.^{[7][dead link]}

References

External links

• Official site