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Press release  

 

About twenty European banks plan to create a new card scheme for Europe

Representatives of thirty major banks and European authorities gathered on May 5th, 2010 in Madrid to discuss the " Monnet project ", aiming at setting up a new pan-European card scheme. This project has been launched in 2008 by major French and German banks*. They have jointly worked on a feasibility study for the last two years. The results clearly show true opportunities for both banks and their clients. This initiative is a chance to develop new innovative services of card payments through all channels (face-to-face payments, Internet, mobile phone), all payment situations (micro / mini payments) and with very strong security features.


At the "Madrid Symposium" conference, European banks from more than ten countries have shown their interest to continue and extend the project at a pan-European level. The aim is to form the Monnet Consortium to carry out additional and complementary studies at a pan-European level, regarding the business case and specific issues. Representatives of the ECB and the European Commission who were attending the Symposium have expressed their support to the project as well.


At the end of the Consortium phase and following exchanges with European Authorities, each participating bank will have to take a decision by the end of 2010 regarding its participation to the creation of this new pan-European card scheme.


Let's remind that the Monnet project is totally in line with the scope of SEPA (Single Euro Payments Area) which aims at harmonizing payments in Europe. Regarding card transactions, Monnet could provide a harmonized services offering in Europe, which will be the first truly European card scheme, and which can substitute the current national parcelling and hence stop the current fragmentation of the European market.


About the European card market: There are 730 million payment cards in Europe which have represented close to 30 billion transactions in 2008, for a total amount of 1700 billion Euro**.




*BNP Paribas, BPCE, Crédit Agricole, Crédit Mutuel, La Banque Postale, Société Générale, Deutsche Bank, DZ BANK, Postbank

**Source: ECB Blue Book - 2008 figures

CONTACT

Antoine Dehelly – Projet Monnet
Tel : 06 72 94 37 29/06 31 63 92 12

 
 
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