EUROCARD (payment card)

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[edit] History

EUROCARD was introduced in 1964 by Swedish banker Wallenberg, as an alternative to American Express^[1].

In 1965 EUROCARD International N.V. was established with seat in Brussels, as a not-for-profit membership association of European banks. Its operational entity was established as European Payment System Services (EPSS).

In 1968 EUROCARD International and MasterCard International entered into a strategic alliance, allowing each other cards to be accepted on each other networks. It allowed MasterCard to get an instant European acceptance network, and EUROCARD to get accepted worldwide. EUROCARD International also got the sole license to issue MasterCard cards in Europe.

In 1992, EUROCARD International N.V., eurocheque International C.V. and eurocheque International Holding N.V. merged into a single company, Europay International S.A., and were relocated to Waterloo, Belgium. The same address also housed the Europe, Middle-East and Africa region of MasterCard International, and the seat of the Eurocard-MasterCard joint-venture, Maestro International.

In 2002, Europay International and MasterCard International merged. The name Europay disappeared, and the new organisation was later renamed into MasterCard Worldwide.

EUROCARD has always been the dominant brand in Northern European countries, more specifically in Germany, the Netherlands and Austria. It lagged behind Visa in Southern European countries, such as Spain and France ^[2].

Today, the EUROCARD name still exists as an issuer brand, always in combination with the MasterCard acceptance mark. This means that the Eurocard name is still allowed to be used on a card, although at acceptance locations, only the MasterCard logo is displayed. The EUROCARD logo is not used any more.