The GeldKarte
German chip-based electronic purse
GeldKarte is the German chip-based electronic purse system which is jointly maintained by the German banking industry. Over 81 million girocards (formerly: ec cards) or banking cards carry the chip already. It can be topped-up with electronic money up to 200 Euros.
GeldKarte is mostly used for small purchases which have, up to now, required small change. Among other sectors it is accepted in public transport, at parking garages, public telephones, and vending machines. A total of approximately 600.000 acceptance points is available to GeldKarte users on a nationwide basis.
The cardholder does not reveal his or her identity, at the same time payment to the merchant is guaranteed by the card-issuing bank. Additional functions such as the protection of minors at cigarette machines and on the Internet, electronic ticketing, or electronic signatures will help GeldKarte further strenghten its leading position over the coming years.
Backing by the German banking sector
GeldKarte is the electronic purse used by the entire German banking sector. It is supported by all four German banking associations:
- Bundesverband der Deutschen Volksbanken und Raiffeisenbanken
(Association of German Cooperative Banks – BVR) - Bundesverband deutscher Banken
(Association of German Private Banks – BdB) - Bundesverband Öffentlicher Banken
(Association of German Public Sector Banks – VÖB) - Deutscher Sparkassen- und Giroverband
(German Savings Banks Association – DSGV)
This kind of backing makes the GeldKarte function a particularly secure and reliable method of payment. The processes and systems used in transactions are constantly monitored, and all the technical equipment involved (terminals, card readers, etc.) must conform with the stringent standards imposed by the German banking sector.
Decisions on the future development of the GeldKarte system are taken by the associations in consultation with the "Zentrale Kreditausschuss" (ZKA), the umbrella organisation of the leading associations in the German banking sector. However, individual banks are free to decide whether they want to issue ec cards, bank cards or SparkassenCards fitted with the GeldKarte chip.
About EURO Kartensysteme GmbH
As a joint undertaking of the German Banking Industry EURO Kartensysteme carries out duties and responsibilities within the realm of card based payment transactions in the common interest of the German banks and savings banks. EURO Kartensysteme is particularly focusing upon central tasks and services, such as administration of MasterCard licenses, the development of operational security standards, methods of fraud prevention as well as marketing for "GeldKarte" and the chip.
