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European alliance on electronic cash forged

Almost all businesses in Germany nowadays accept cashless payment by ec-card. Most small and medium-sized businesses in Germany meanwhile also accept electronic cash by ec-card. In future German consumers will be able to pay as comfortably elsewhere in Europe as they pay at home in Germany.

At the beginning of November 2007 payment systems from Spain, Italy, Portugal and Great Britain as well as the German electronic cash system joined to form an European alliance called “Euro Alliance of Payment Schemes”. Thanks to this new structure German tourists and business men will in future be able to pay in any shop in Europe by their SparkassenCard or any other ec-card just as easily as here in Germany.

According to a new study by the Euro Retail Institute (EHI) carried out in 2007 consumers paid for 13.9% of the total turnover in the German retail sale by using their ec-cards. This percentage is an increase by 21% as compared to the year 2005. GERMAN