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At the EFMA conference, Gilles Guitton, Chairman
of the Board of Cartes Bancaires, reviewed the status of Europe's
bankcard systems.
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| Gilles Guitton, Chairman of the Board of Cartes
Bancaires during his presentation on SEPA at the EFMA conference.
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"Are European bankcard payment systems set to
undergo evolution or a revolution?" It was with this question
that Gilles Guitton, Chairman of the Board of Cartes Bancaires opened
his presentation on the future of bankcards in Europe at the Card
and Payment Conference held by EFMA (European Financial Management
& Marketing Association) on 20th to 22nd September 2005 in Paris.
Like Cartes Bancaires, many of the stakeholders are working on harmonising
national systems to make card payment increasingly simple, more secure
and less costly in the 25 Member States of the European Union. Obstacles
do remain, not least of which the diversity of the electronic payment
landscape across the various Member States. "The United Kingdom,
France and Germany alone account for two thirds of card transactions
within the EU", Gilles Guitton reminded the audience. Card penetration
rates range from 92% in the Netherlands and Luxembourg to just 58%
in Italy, not to mention the recent Accession Countries, which already
had a very low starting point. Even so, bankcards are enjoying unprecedented
success and are gradually becoming consumers' preferred method of
payment. The fact still remains, however, that at the European level,
bankcards require the adoption of common standards to guarantee transaction
security and provide all stakeholders, whatever their nationality,
with access to the electronic payment market. Because it has developed
undeniable expertise in all stages in the electronic payment chain,
France hopes that the future rules for the European system will keep
the best aspects of its model. The irrevocable nature of transactions,
opening the system to foreign banks (35 out of a total 147), interbank
cooperation and personal data protection under the aegis of CNIL (French
Committee on Information Technology and Data Protection) are all experiences
from which its partners can learn a great deal. Finally, will the
European model be the result of a revolution or an evolution? Given
that payment methods are also an expression of each country's deep-rooted
sociological characteristics, Gilles Guitton does not believe that
it will be the result of any complete and unprecedented change. His
concluding words, "Better controlled evolution than a failed
revolution". |
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