Card schemes in Europe: Consolidation or proliferation?

Ernst Verbeek

Journal of Payments Strategy & Systems, 2011, vol. 5, issue 1, 73-82

Abstract: Although the Single Euro Payments Area (SEPA) will bring about consolidation in the payments industry in Europe in general, this does not apply to the number of payment schemes. There are nearly as many payment card schemes as there are countries in Europe. But it is not a foregone conclusion that these are likely to disappear and be replaced by two or three pan-European schemes. Some card schemes will undoubtedly disappear, but at the same time there are many contenders, both new and existing, with the will and the resources to become meaningful players in the European payments landscape. Their proliferation is being reinforced by a tendency of both the card issuer and the card acquirer sides to broaden the portfolio of brands on offer to cardholders and merchants, respectively. At the same time, card payment schemes will undergo a paradigm shift as non-card payment instruments converge with card payment systems to create hybrid networks.

Keywords: card payment schemes; domestic debit; SEPA; payments innovation; China UnionPay; EAPS; EUFISERV; Monnet; PayFair; American Express; JCB; PayPal (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2011
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