EUFISERV Takes Next Step Towards The Single Euro Payment Area
EUFISERV has announced that its board of directors has taken decisions necessary for the EUFISERV ATM card scheme to become compliant with the SEPA Cards Framework (SCF). This will allow the scheme to continue to be a part of the European payment system landscape after the launch of SEPA in 2008.
Currently the EUFISERV ATM Card Scheme provides access to cash to over 70 million cardholders. EUFISERV branded cards are issued by over 600 participating banks and are accepted at over 60,000 EUFISERV branded ATMs across Europe.To become SCF-compliant the EUFISERV scheme will be separated from the processing activities of the company. Participating banks will need only a single license for the whole of SEPA. Support for EMV will be made mandatory and a liability shift rule will be introduced to encourage early adoption.
Mr. Petter N. Johansen, Managing Director of EUFISERV, said that this decision of the company’s Board of Directors assures continuity of service to banks participating in the EUFISERV ATM Card Scheme as well, of course, to cardholders. “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.
At the same time, the formal separation of the governance of the scheme underlines EUFISERV’s commitment to fully exploit the company’s switch processing services. Coupled with our recently announced decisions to provide services to the wider market, EUFISERV’s intent to capitalise on its role as an ATM and POS switch processor of all global and SCF-compliant card schemes is progressing as planned.”
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