In mid-2006, Equens started a project to make a direct connection with Germany for the processing of bank card transactions of German cardholders in the Netherlands. As a result the authorisation, clearing and settlement of these transactions will take place directly between the Netherlands and Germany. Since a link in the processing chain is omitted, cross-border payments with bank cards will be faster and more efficient.
The connection with Germany takes place based on open standards formulated by the Berlin Group. As a first step in the implementation at Equens, a pilot project will be started shortly with the German BankVerlag. PaySquare will participate as acquirer.
The most important objective of the Berlin Group and the participating parties is to comply with the objectives of the European Commission and the European Central Bank with respect to SEPA Cards and to further stimulate the efficiency of European payment transactions. The aim of the Berlin Group is to interconnect as many countries as possible for cross-border payment transactions.
The European Commission supports the initiative of the Berlin Group. Additional information regarding the Berlin Group and the specifications can be found on its website.