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Girocard
girocard is an interbank network and debit card service connecting virtually all German ATMs and banks. It is based on standards and agreements developed by the German Banking Industry Committee. German girocards are usually co-branded with Mastercard's Maestro/ Cirrus or Visa's V Pay logo, allowing cardholders to use them in other European countries. As another co-badging option, combined girocard/JCB cards were introduced in 2016. The German Savings Banks Association has announced that upcoming Sparkassen-Cards will also function as full Debit Mastercard cards in addition to girocards and will have a 16-digit Mastercard number. Some banks are phasing out girocards. DKB, for instance, has announced that instead of a girocard and a Visa credit card, it will soon be issuing its customers a single Visa Debit card. History Originally, German banks formed an interbank network connecting virtually all German ATMs. The network used Eurocheque guarantee cards as ATM cards and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Apple Pay
Apple Pay is a mobile payment service by Apple Inc. that allows users to make payments in person, in iOS apps, and on the web. It is supported on these Apple devices: iPhone, Apple Watch, iPad, and Mac. It digitizes and can replace a credit or debit card chip and PIN transaction at a contactless-capable point-of-sale terminal. It does not require Apple Pay-specific contactless payment terminals; it can work with any merchant that accepts contactless payments. It adds two-factor authentication via Touch ID, Face ID, PIN, or passcode. Devices wirelessly communicate with point of sale systems using near field communication (NFC), with an embedded secure element (eSE) to securely store payment data and perform cryptographic functions, and Apple's Touch ID and Face ID for biometric authentication. Apple Pay can also be used to ride some public transport networks either through the use of credit/debit cards (open loop) (for example across TfL in London, SL in Stockh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cash Group
Cash Group is a cooperation of the four largest German private banks (Deutsche Bank, Commerzbank, HypoVereinsbank, and Postbank) and their subsidiaries, in which they mutually waive ATM usage fees for their customers. It is not an interbank network but uses the pre-existing girocard network. With more than 7000 ATMs, the cooperating banks' ATM networks form the third largest ATM network in Germany. The cooperation was founded in 1998 and is generally not open to other members. Its primary competitor in Germany is CashPool. Background Most banks in Germany, while connected through the girocard network, charge ATM usage fees for customers of other banks. Prior to 1998, the charge was fixed to 4,00 DM (2,05 €) or 1%, whichever was higher. However, this agreement was terminated by the Sparkassen (public banks), who jointly operate the largest German ATM network, arguing that the cost of operating ATMs was unfairly laid on them when virtual banks entered the market. As a conse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
V Pay
V Pay is a Single Euro Payments Area (SEPA) debit card for use in Europe, issued by Visa Europe. It uses the EMV chip and PIN system and may be co-branded with various national debit card schemes such as the German Girocard or Italy's PagoBancomat. Overview The V Pay debit card system competes with the Mastercard Maestro debit card product. However, unlike Mastercard Maestro, V Pay cards cannot be used in non-EMV environments, limiting its acceptance to those countries and merchants that use this system. Also unlike Mastercard Maestro, which is issued and accepted globally, V Pay is designed as a specifically European product, and is not issued or accepted outside European countries except for some islands which are part of European countries, such as Saint Martin. However, some cards are co-branded with the Visa Electron system, which allows using them outside Europe. V Pay cards began to be accepted at merchants in France and Greece in 2005, and acceptance had since expa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CashPool
CashPool is a cooperation of a multitude of smaller or virtual German private banks, in which they mutually waive ATM usage fees for their customers. It is not an interbank network but uses the pre-existing German ATM or Maestro/ Cirrus networks. With more than 3200 ATMs, the cooperating banks' ATM networks form the smallest ATM group in Germany. The cooperation was founded in 2000. Its primary competitor in Germany is Cash Group. Background Most banks in Germany, while connected through the German ATM network, charge ATM usage fees for customers of other banks. In 1998, the six largest German private banks established Cash Group, mutually waiving these fees within the Group. After the formation, other private banks tried to join Cash Group but were not accepted into the Group. Being smaller than the six large private banks, they operated fewer ATMs and thus would have unilaterally benefited from the use of the other bank's larger networks. As a consequence, several of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debit Card
A debit card, also known as a check card or bank card is a payment card that can be used in place of cash to make purchases. The term ''#Plastic card, plastic card'' includes the above and as an identity document. These are similar to a credit card, but unlike a credit card, the money for the purchase must be in the cardholder's bank account at the time of a purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase. Some debit cards carry a Stored-value card, stored value with which a payment is made (prepaid card), but most relay a message to the cardholder's bank to withdraw funds from the cardholder's designated bank account. In some cases, the payment card number is assigned exclusively for use on the Internet and there is no physical card. This is referred to as a virtual card. In many countries, the use of debit cards has become so widespread they have overtaken cheque, checks in volume, or have entirely replace ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Cash
Electronic cash was, until 2007, the debit card system of the German Banking Industry Committee, the association that represents the top German financial interest groups. Usually paired with a transaction account or current account, cards with an Electronic Cash logo were only handed out by proper credit institutions. An electronic card payment was generally made by the card owner entering their PIN (Personal Identification Number) at a so-called EFT-POS-terminal ( Electronic-Funds-Transfer-Terminal). The name "EC" originally comes from the unified European checking system Eurocheque. Comparable debit card systems are Maestro and Visa Electron. Banks and credit institutions who issued these cards often paired EC debit cards with Maestro functionality. These combined cards, recognizable by an additional Maestro logo, were referred to as "EC/Maestro cards". Providers All of Germany's providers registered with the Central Credit Committee are connected in the working group ''Ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankcard-Servicenetz
The Bankcard-Servicenetz () is a German ATM card interbank network group provided by the Volksbanken und Raiffeisenbanken services group. Technically it is not an interbank network but uses the pre-existing girocard network. Member banks of this cash credit group charge ATM usage fees at a low level and most customers of the co-operative banks enjoy free withdrawal from their accounts. With 19,200 ATMs the Bankcard-Servicenetz group is the second largest ATM group in Germany (after the savings banks network). In March 2012 more than 99% of the co-operative banks associated in the Federal Association of German 'Volksbanken und Raiffeisenbanken' Co-operative Banks participated in the Bankcard-Servicenetz network. The federal association publishes a list of banks that are ''not'' offering this service. Unlike other ATM groups like the Cash Group and CashPool, the ATM service network of Bankcard-Servicenetz is not free of charge – the service fee is not waived but the compact re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eufiserv
EUFISERV (European Savings Banks Financial Services) is a European interbank network connecting the ATMs of savings banks in Austria, Belgium, the Czech Republic, Finland, France, Germany, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, and Switzerland. It is the largest and the only international credit union-owned interbank network in Europe. History *1988: The ATM Co-operation project of the European Savings Banks Group was set up. *1990: The company EUFISERV S.C. was founded to develop the ATM Co-operation project into a full-service interbank network. *1992: Visa International and Eufiserv signed an agreement to provide mutual cash dispensing services. *1996: MasterCard and Eufiserv signed an agreement to provide mutual cash dispensing services. *1999: American Express and Eufiserv signed an agreement to provide access to American Express cards at EUFISERV ATMs. *2005: China UnionPay and Eufiserv signed an agreement to provide access to CUP cards at EUFISERV ATMs. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sparkasse (Germany)
The ''Sparkassen-Finanzgruppe'' ("Savings Banks Financial Group") is a network of public banks that together form the largest financial services group in Germany and in all of Europe. Its name refers to local government-controlled savings banks that are known in German as , plural . Its activity is overwhelmingly located in Germany. History The first savings banks in Germany were founded in the 18th century in its major trading cities. One of the first institutions with the business model of modern savings banks was the ''Ersparungscasse der Hamburgischen Allgemeinen Versorgungsanstalt'' in Hamburg in 1778. Founders were rich merchants, clerks and academics. They intended to develop solutions for people with low income to save small sums of money and to support business start-ups. In 1801 the first savings bank with a municipal guarantor was founded in Göttingen to fight poverty. In 1838, Prussia adopted the first savings banks legislation (), which subsequently served as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Germany
Germany, officially the Federal Republic of Germany (FRG),, is a country in Central Europe. It is the most populous member state of the European Union. Germany lies between the Baltic and North Sea to the north and the Alps to the south. Its 16 constituent states have a total population of over 84 million in an area of . It borders Denmark to the north, Poland and Czechia to the east, Austria and Switzerland to the south, and France, Luxembourg, Belgium, and the Netherlands to the west. The nation's capital and most populous city is Berlin and its main financial centre is Frankfurt; the largest urban area is the Ruhr. Settlement in what is now Germany began in the Lower Paleolithic, with various tribes inhabiting it from the Neolithic onward, chiefly the Celts. Various Germanic tribes have inhabited the northern parts of modern Germany since classical antiquity. A region named Germania was documented before AD 100. In 962, the Kingdom of Germany formed the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Virtual Bank
A direct bank (sometimes called a branch-less bank or virtual bank) is a bank that offers its services only via the Internet, email, and other electronic means, often including telephone, online chat, and mobile check deposit. A direct bank has no branch network. It may offer access to an independent banking agent network and may also provide access via ATMs (often through interbank network alliances), and bank by mail. Direct banks eliminate the costs of maintaining a branch network while offering convenience to customers who prefer digital technology. Direct banks provide some but not all of the services offered by physical banks. Direct bank transactions are conducted entirely online. Direct banks are not the same as "online banking". Online banking is an Internet-based option offered by regular banks. In the United States, direct banks are defined as online/branchless institutions with federal banking charters, with either the Federal Reserve Board, the Office of the Comptro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Switch (debit Card)
Switch was a debit card brand in the United Kingdom from 1988 until 2002. It was then merged with Maestro, which is owned by MasterCard. History Switch was launched in 1988 by Midland Bank, National Westminster Bank and The Royal Bank of Scotland as a multifunction cheque guarantee and cash card. The brand was merged with Maestro, an international debit card brand owned by Mastercard, at the end of 2002. This merger was referred to as the "penguin wedding," due to itdistinctive advertisementsof penguins in different international settings created by Joel Veitch. Since then, Switch has been out of circulation and banks migrated customers from Switch to Maestro. The deal was announced in August 2002. The merger was also intended to increase the acceptance of foreign Maestro cards in the United Kingdom. However, despite the ''Maestro'' brand name, point of sale transactions in the United Kingdom were still processed by Switch Card Services Limited, later S2 Card Services Limit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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