Furthermore, based on year-to-date figures and current projections for Q4 2010, EAPS transaction volumes are expected to reach approximately 1.8 million for the whole of 2010, nearly doubling the transaction volumes registered in 2009 by EAPS.
The growth tendency reflects the fact that payment industry support is increasing at a rapid pace for the European payment framework, which unites the networks of European card schemes, acquirers and individual payment institutions in Europe, to enable cross-border connections.
Several initiatives contributed to the increase in EAPS transactions during the Q3 2010, namely, Eufiserv (European Savings Banks Financial Services) opening its ATM network for EAPS transactions across Austria as well as an agreement between the UK LINK ATM network and German card scheme Zentraler Kreditausschuss (ZKA), which allows holders of German debit cards, known as ‘girocard’, to withdraw cash from ATMs across the UK.
EAPS provides a European alternative to the global payment schemes, which enables debit cardholders in one European country to use their domestically issued cards for ATM and POS transactions in other European countries.
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