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A single card-payment terminal for all the countries of the European Union. 15/07/2009

The main European card-payment schemes have joined forces to define a common standard for all terminals used to pay for goods and services with cards at retail outlets in their respective countries.

This standard, known as “SEPA-FAST”, has been developed in accordance with the guidelines of the European  Payments Council (EPC), SEPA Cards Standardisation “Volume”. EPC is the body responsible for regulating European standards for means of payment.

According to a spokesperson for Sistema 4B, the Spanish representative in the CIR TWG group, the body which has developed the standard, "the basic aim of this work is to create a framework for European standardisation which makes the deployment of payment terminals more flexible and improves interoperability within SEPA. This work complements that which entities such as EMVCo have been undertaking for several years and is the result of the technical experience of its members in developing and implementing card and terminal means of payment solutions in their respective countries."

 

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