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In Luxembourg, migration to
EMV is managed by CETREL, the central player in the payment system.
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In Luxembourg, the cornerstone
in the payment system is a cooperative company established in 1985
that groups together ten Luxembourg banks along with the P.T.T...
The company, Cetrel*, (175 employees) manages
all Bancomat, Visa and MasterCard electronic payment and administrative
operations by Luxembourg card holders both in Luxembourg and abroad,
as well as those by foreign card holders in Luxembourg. Last year,
this activity represented over 675,000 bankcards in circulation,
almost 50 million transactions and a financial volume of 4 billion euros,
representing nearly all payment transactions in Luxembourg. Cetrel
also manages a network of Eftpos terminals, which it leases to Luxembourg
retailers; most of the equipment is French and accepts French B0'
format cards. Lastly, Cetrel manages the MiniCASH e-purse, which is
increasingly used in Luxembourg. Representing 3 million transactions
for a volume of 7.1 million euros, this e-purse has been
voted "Best of Class" among the 19 e-purse systems
operating in Europe.
Within the context of ongoing improvement to the
security and the quality of its services, Cetrel has been working
since early 2002 to complete migration to the EMV standard
by January 2005. Adaptation of its ATM and Eftpos terminals began
in July and the first EMV cards will be issued at the end of the year.
* a French acronym for electronic transfer centre: CEntre de
TRansferts Electroniques www.cetrel.lu
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CETREL
KEY FIGURES |
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675 000
credit and debit cards.
375
ATMs. |
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7 500
Eftpos terminals.
3
million transactions a
year for the MiniCASH
e-purse. |
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