Netherlands faces dual payment systems

Dutch companies and consumers will be faced with two rival payment systems for a number of years following the introduction of a new European standard from next year, the Financieele Dagblad reports.

The single European system, known as Sepa, will launch in the euro-zone on January 1, according to plans published by the central bank. Sepa will replace all national payment systems which vary greatly in terms of conditions and cost.
The FD says Sepa will mean the end of the Dutch electronic purse system (Chipknip), the ‘acceptgiro’ and other forms of Dutch cashless payments.
The retail sector is concerned that the pan-European system will be more expensive.

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