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A European card payments scheme: Forever a phantom?
Journal of Payments Strategy & Systems,
7
(4),
344-358
(2014)
Abstract
For many years there have been requests for and debates about a European Card Payments Scheme (ECPS), with no implementation so far. This paper shows that a true ECPS will not occur within the scope of the current architecture of the card market, which is based on competition. The creation of a true ECPS can only be achieved by means of a cooperative solution similar to the European Payments Council. This, however, will require the consensus of the European players in the card business and the willingness to make the necessary capital investment, as well as the benevolent support of the European institutions that have demanded an ECPS. So far, however, European decision makers have only formulated a wish-list with somewhat inconsistent items and the top management of European banks has displayed a noticeable lack of interest in this topic. Therefore, the ECPS will probably remain a phantom.
Keywords: European Card Payments Scheme; SEPA; payment cards; internal market
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Author's Biography
Ewald Judt born in 1950, studied at the Vienna University of Economics and Business, where he received his Doctorate in Economics and Social Science in 1975. After completing his studies, he worked in various positions in the Austrian banking sector. From 1980, he was the managing director of Eurocard Austria and the successor companies Europay Austria and PayLife Bank. He retired at the end of 2011. After his graduation, he worked, in addition to his job, as lecturer at his university. In 2005, he was appointed Honorary Professor at the Vienna University of Economics and Business, where he is still active in teaching and research. Ewald Judt was President of the Austrian Association of Financial Marketing from 2002 to 2005 and Vice-President prior to this period from 1990 and again after this period until 2011. He is copublisher of three periodicals in the field of banking, payments and marketing.
Malte Krueger is Professor of Economics at the University of Applied Sciences in Aschaffenburg (Germany) and works as a consultant for PaySys Consultancy (Frankfurt). He holds a PhD in economics from the University of Cologne (Germany) and has worked as a research fellow for the Bank of Spain, the University of Western Ontario, the University of Durham, the University of Karlsruhe, the University of Applied Sciences in Frankfurt and the European Commission. Consulting projects have been focused on payments — including internet payments — and the list of clients includes banks, processors, merchants, card schemes, payment service providers, market regulators and others, in Germany and other European countries. Malte has published widely on payment issues in academic and industry journals.
