Peter the Great Vodka Dri

http://uk.biz.yahoo.com/20062007/325/banks-agree-crossborder-mastercard-rival.html

Banks agree crossborder Mastercard rival

OFFENBACH, Germany (Reuters) - European banks have agreed to link
their national debit card systems from September in a bid to break
Mastercard (NYSE: MA - news) 's <MA.N> grip on crossborder payments, a
German banking official said on Wednesday.

On September 4 banks will launch a scheme, called EAPS, to enable
debit cards issued in Germany, Britain, Italy, Spain, Portugal and
Austria to work in cash machines and shops in the other countries,
Peter Blatsche from German public-sector banking association VOeB
said.

For debit cards to work outside their country of issue, they currently
need to be part of either Mastercard's dominant Maestro scheme or V-
Pay operated by Visa Europe.

"We reckon that we can set off a domino effect as soon as the
implementation is a reality," he told a conference in Offenbach,
Germany. Banks in the Netherlands and Luxembourg were already
interested in joining the scheme, he added.

Debit cards deduct money directly from shoppers' bank accounts, unlike
credit cards which charge merchants higher fees and are not widely
accepted in some countries such as Germany.

The Euro Alliance of Payment Schemes (EAPS) scheme will charge no more
than the 0.3 percent rate changed under Germany's Electronic Cash
debit card system, Blatsche said.

The European Union has just adopted new rules to create a single
European payments area (SEPA). From next year SEPA will start to blur
the difference between national and cross-border transactions within
the EU.

Blatsche said that EAPS would first make national debit card schemes
work together, and then merge them into a single system.

Miguel Cruz

Peter the Great Vodka Drinker <[email protected]> wrote:
> http://uk.biz.yahoo.com/20062007/325...stercard-rival.
> html
>
> Banks agree crossborder Mastercard rival
>
> OFFENBACH, Germany (Reuters) - European banks have agreed to link
> their national debit card systems from September in a bid to break
> Mastercard (NYSE: MA - news) 's <MA.N> grip on crossborder payments, a
> German banking official said on Wednesday.

The German banking official went on to say that cash withdrawals and
payments made through this system would attract a 65-euro fee.

miguel
--
Hit the road! Photos from around the world: http://travel.u.nu
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Tim.....

"Miguel Cruz" <[email protected]> wrote in message
news:spam-F602ED.02514422062007@localhost...
> Peter the Great Vodka Drinker <[email protected]> wrote:
>> http://uk.biz.yahoo.com/20062007/325...stercard-rival.
>> html
>>
>> Banks agree crossborder Mastercard rival
>>
>> OFFENBACH, Germany (Reuters) - European banks have agreed to link
>> their national debit card systems from September in a bid to break
>> Mastercard (NYSE: MA - news) 's <MA.N> grip on crossborder payments, a
>> German banking official said on Wednesday.
>
> The German banking official went on to say that cash withdrawals and
> payments made through this system would attract a 65-euro fee.

I assume that you have your decimal point wrong.

But even so, what the banks charge each other for
a service and what a bank passes onto its customer
for the same service are not necessarily related.

tim

Miguel Cruz

"tim....." <[email protected]> wrote:
> "Miguel Cruz" <[email protected]> wrote in message
>> The German banking official went on to say that cash withdrawals and
>> payments made through this system would attract a 65-euro fee.
>
> I assume that you have your decimal point wrong.

I was just extrapolating from the fees that German banking officials
have been known to charge.

miguel
--
Hit the road! Photos from around the world: http://travel.u.nu
Detailed airport information: http://airport.u.nu

Tim C .

Following up to Miguel Cruz <[email protected]> :

>I was just extrapolating from the fees that German banking officials
>have been known to charge.


So you're quoting a value you worked out and then telling us that a German
banking official said it?
--
Tim C.

Tim C .

Following up to Miguel Cruz <[email protected]> :

>Peter the Great Vodka Drinker <[email protected]> wrote:
>> http://uk.biz.yahoo.com/20062007/325...stercard-rival.
>> html
>>
>> Banks agree crossborder Mastercard rival
>>
>> OFFENBACH, Germany (Reuters) - European banks have agreed to link
>> their national debit card systems from September in a bid to break
>> Mastercard (NYSE: MA - news) 's <MA.N> grip on crossborder payments, a
>> German banking official said on Wednesday.
>
>The German banking official went on to say that cash withdrawals and
>payments made through this system would attract a 65-euro fee.


You'd have to make a transaction of nearly Eur 20000.- to be charged that.
--
Tim C.

Miguel Cruz

Tim C. <[email protected]> wrote:
> Following up to Miguel Cruz <[email protected]> :
> >I was just extrapolating from the fees that German banking officials
> >have been known to charge.
>
> So you're quoting a value you worked out and then telling us that a German
> banking official said it?

Did you really think I was being serious?

miguel
--
Hit the road! Photos from around the world: http://travel.u.nu
Detailed airport information: http://airport.u.nu