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| Subject: modest profits on the [Proton e-purse]4 million, to 6 millionlast DecemberEuro | |
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Author: Jan 08 2003 "KBC and other big Belgian banks |
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Date Posted: 03:50:40 02/05/03 Wed Belgians Using E-Purse Instead of Coins Cards International Jan 08 2003 : "KBC and other big Belgian banks are likely to start making modest profits on the [Proton e-purse] scheme [as] the first banks ever to make money on e-purses, according to Cards International. Since Belgian consumers "don't seem to like the new euro coins' they have switched to using the Proton chip, which is embedded in the country's nine million magnetic-stripe debit cards, CI reports. Proof that the euro triggered use of Proton, is evident in that monthly transactions rose from 4 million, to 6 million last December, before rocketing to 10 million in January, once euro notes and coins were introduced. During 1H 2002, over 60 million Proton e-purse transactions were initiated, the same as in all of 2001, CI notes, with average transaction value rising from EUR 4 in 2001, to EUR 5.70 this year. Proton, which launched in 1996, is run by Banksys, a payment-processing firm jointly owned by all the Belgian banks, and has been licensed to 35 countries. Over 500 banks now issue Proton-type cards, including major banks in Belgium, the Netherlands, Switzerland, Sweden and Norway, according to CI, and over 40 million cards are in issue, for use at 360,000 terminals. Proton's success is attributed to interbank co-operation in Banksys and shared ATM networks, both domestically and internationally, according to spokeswoman, Marina de Moerlooze. To use the Proton e-purse, debit cardholders need to make arrangements with their bank, which may make an annual charge of up to EUR 5, or may offer the card for free to young adults. Banks earn some interest on the prepaid balances, CI reports, while retailers pay a service charge of about 0.7 per cent on Proton payments. Australian transit payments group, ERG, currently holds the worldwide rights to Proton. French Banks Test Mobile Moneo Reader Card Technology Nov 28 2002 : Three French banks, Credit Agricole, Banques Populaires and Credit Mutuel, are testing handheld card readers that accept payments with Moneo electronic purses, according to Card Technology. While the pilot was initiated with a view to moving the e-purse transactions away from fixed POS terminals, its full roll-out in 1Q 2003, will be aimed at street vendors, home-delivery personnel and merchants who do not accept credit card payments. As Georges Liberman, of Xiring, maker of the readers, explains, “you want to pay [a waiter] for coffee? He has [the reader] in his pocket” ready to accept the payment at the table. With most French banks issuing Moneo e-purses on the chip that contains the national French debit or deferred debit application, uptake of the readers is expected to be high, given the 16 million CB/Moneo cards that will be in circulation by year’s end. French banking association, BMS, which issues the e-purses, last month certified the card readers as secure, while indicating about 750,000 consumers to currently use the Moneo e-purse. Moneo launched in France in 2001, and over 75,000 merchants can accept it as a payment option, including Paris, which joined the system this month, according to BMS. In partnership with two transit operators, BMS is accelerating Moneo’s national rollout, and some banks in the Netherlands are likely to test the handheld readers next month, after certification by Dutch interbank group, Interpay, Card Technology reports. Up to 300 transactions facilitated by the handheld reader can be stored on its SAM (secure access module), ready for merchant download to a “shuttle card” that is taken to a bank for deposit into an account. In the Netherlands, the readers will be used with Chipknip, the national Proton-based e-purse, while in France, they are also used with a chip-based insurance card. [ Next Thread | Previous Thread | Next Message | Previous Message ] |