Eurocard

Eurocard was a credit card introduced in 1964 by a Swedish banker belonging to the Wallenberg family . She was destined to be an alternative to American Express .

History

In 1965, Eurocard International NV was created in Brussels . It takes the form of a non-profit association whose purpose is to federate European banks. Its operating entity is called the European Payment System Services .

In 1968, Eurocard International and MasterCard International entered into a strategic alliance , stipulating that the means of payment of each are accepted in the payment network of the other. This alliance allowed MasterCard to operate its credit cards throughout the European network, while the Eurocard was accepted worldwide. Eurocard International has obtained the only existing license for the use of MasterCard credit cards in Europe.

In 1992, Eurocard International NV, Eurocheque  (in) International CV and Eurocheque International Holding NV proceed to a merger . Only one company, Europay International  (en) SA, headquartered in Waterloo , Belgium , is home to MasterCard International’s Europe, Middle East and Africa divisions, as well as the Eurocard Joint Center. -MasterCard, Maestro International.

In 2002, Europay International and MasterCard International merge. The name Europay disappears to the name of the new organization, called MasterCard Worldwide, whose head office (which is still located in Waterloo) takes the name of MasterCard Europe.

In 2008, the Swedish bank Skandinaviska Enskilda Banken took over the name Eurocard.

Since its creation, the Eurocard card has always been the dominant brand in the credit card market in Central European countries , including Germany , the Netherlands and Austria . It has been less successful in Western Europe, particularly in France and Spain , where Visa has taken most of the market 1 .

Today

Since 2008, the Eurocard name exists in combination with that of MasterCard as the product name. This means that it is still used or usable on cards, although only the MasterCard logo is displayed in businesses that accept cards of this type. As for the Eurocard logo, it is no longer used today. The use of the Eurocard name as a mark for MasterCard is restricted to the Scandinavian countries and the Baltic States. In other European countries, the brand has been completely replaced by MasterCard.

External links

  • Eurocard Sweden  [ archive ]
  • Eurocard Denmark  [ archive ]
  • Eurocard Norway  [ archive ]
  • Eurocard Finland  [ archive ]
  • Eurocard International  [ archive ]

References

  1. ↑ EUR-Lex – 52002XC0413 (02) – EN  [ archive ]

Leave a Reply

Your e-mail address will not be published. Required fields are marked *