Monnet Card Scheme is moving ahead

[italkcash]

The first ever publicly posted image of a Monnet card. While this probably wont be the design of the card we can assume that this is a leap into soon realizing a card scheme for the EU.

A duo-poly by Visa and Mastercard is about to be broken apart by what may become a highly successful card for the EU. We have here on Italkcash.com written plenty about the Monnet card in the past. Please look on THIS topic as well as THIS

24 banks will participate in the project in order to launch the card that would most likely become dominant in the EU.

The benefits of the Monnet project for all stakeholders involved are numerous.

• Firstly, the main objective of the project is to maintain existing service levels and low fee levels for merchants and cardholders at the European scale.

• Secondly, the Monnet project would work with state-of-the-art fraud prevention and management tools to bring security to cardholders and merchants.

• Thirdly, the Monnet project would be the ideal innovation vehicle. In fact, through this project, Europe would take advantage of a unique and overall solution for innovative payment services, such as e-payments, m-payments and contactless payments, for all European cardholders.

• Last but not least, the Monnet project’s value proposition has been built to satisfy European cardholders’ requirements (based on independent testing) and will include value-added services such as current account balance at ATM, P2P payments, saving options and loyalty program.

The Banks are as following:

• Société Générale
• La Banque Postale
• Crédit Agricole
• Crédit Mutuel - CIC
• BPCE
• BNP Paribas
• SIBS on behalf of Portuguese banks (SIBS is also known as Multibanco, an Interbank network)
• (RBS) WorldPay ¨
• BNPP Fortis
• BBVA
• Santander
• Banco Popular
• Caja Madrid
• Banco Sabadell
• La Caixa
• Banco Cooperativo
• Unicredit
• ICBPI (representative
• of Italian Popular
• Banks)
• BNL (BNPP)
• Intesa Sanpaolo
• DZ BANK
• Deutsche Bank
• Deutsche Postbank

The opportunities in the new card, the Monnet, are almost unimaginable compared to what we have seen from the card world before. Mentioning of a credit and debit card on one and the same card, or features such as Peer 2 Peer transfers to anyone with a Monnet card is crazy features. We can expect this card to be a real game changer and offer some more democratic merchant services compared to Visa and Mastercard. And who knows, maybe the EAPS card project will finally kick in as well.

For more info about the Monnet card please look on the latest release in this PDF File

Question is how this would all be integrated in another game changer, the Bitcoin, which is starting to generate quite a bit of rumors, more on this later today.