Table 4: Cashless payment tools in Europe and the US, 1999-2002
Cheques
Payment by credit/debit
cards
Credit transfers Direct Debits Card-based e-money
1999 2002 1999 2002 1999 2002 1999 2002 1999 2002 Austria 2.1% 0.7% 10.6% 17.4% 57.8% 46.6% 29.3% 33.7% 0.2% 1.7%
Belgium 5.7% 1.7% 28.9% 34.6% 51.9% 46.9% 10.2% 9.8% 3.2% 7.0%
Denmark 7.8% 4.5% 50.0% 54.5% 25.7% 24.4% 15.5% 15.7% 1.0% 0.9%
Finland 0.1% 0.1% 38.4% 45.5% 56.7% 49.3% 4.6% 5.0% 0.1% 0.1%
France 40.1% 34.2% 26.1% 30.6% 18.4% 18.6% 15.5% 16.3% n/a 0.1%
Germany
(1,2) 3.8% 1.2% 10.7% 16.6% 47.0% 45.0% 38.4% 36.9% 0.2% 0.3%
Greece n/a 20.2% n/a 56.0% n/a 10.7% n/a 13.1% n/a n/a Ireland 49.2% 26.3% 22.6% 47.4% 12.9% 13.3% 15.4% 13.0% n/a n/a Italy 25.2% 17.1% 18.1% 29.1% 38.0% 31.8% 18.8% 22.0% n/a n/a Netherlands 1.0% 0.0% 27.7% 32.8% 41.2% 37.0% 29.3% 27.6% 0.8% 2.6%
Portugal (3) 34.1% 24.1% 47.2% 58.2% 6.3% 6.2% 11.9% 11.3% 0.6% 0.1%
Spain (4) 10.7% 6.0% 24.3% 36.4% 14.5% 14.7% 50.5% 42.8% 0.1% 0.0%
Sweden 0.3% 0.1% 22.3% 50.6% 69.6% 38.8% 7.4% 10.4% 0.3% 0.1%
UK 28.8% 21.0% 34.3% 41.2% 18.1% 17.7% 18.8% 20.1% n/a n/a Europe 20.3% 15.4% 24.4% 31.7% 31.2% 28.4% 23.9% 23.9% 0.2% 0.5%
US (5) 57.8% 45.2% 33.7% 43.6% 5.2% 5.9% 3.3% 5.3% n/a n/a Note:
1 Payments by credit cards: from 2000 onwards, the figure includes retailer card transactions.
2 Direct debits: debit card transactions are not included under this item but are shown under "Debit / Credit cards".
3 This number does not include data related to bills of exchange.
4 This number does not include data relating to bills of exchange, traveller's cheques and other documents.
5 US data is for the years 2000 and 2003 and relates to consumer, business and government transactions. Direct debits include figures for Electronic Check Conversion.
Source: ECB Bluebook, Federal Reserve Business Insights Ltd
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Table 5: Number of payment cards in Europe and the US, 1999-2003
000s 1999 2000 2001 2002 2003 AAGR 99-03
Austria 5,143 5,664 6,781 7,360 8,105 14.4%
Belgium 10,099 11,276 11,591 12,101 12,532 6.0%
Denmark 3,065 3,527 3,756 3,928 4,189 9.2%
Finland 3,098 3,406 3,930 4,324 4,605 12.2%
France 32,889 37,924 40,505 43,580 45,786 9.8%
Germany 92,426 105,346 109,648 112,177 113,729 5.8%
Greece 3,846 6,607 8,538 10,573 10,913 45.9%
Ireland 1,949 2,151 2,558 2,919 3,120 15.0%
Italy 31,235 34,978 38,944 42,754 46,337 12.1%
Netherlands 19,683 20,995 20,948 21,940 22,907 4.1%
Norway 4,371 5,174 5,861 6,387 7,041 15.3%
Portugal 8,173 9,980 11,565 12,744 13,682 16.9%
Spain 38,990 44,550 49,237 53,309 56,816 11.4%
Sweden 6,291 6,640 7,027 7,544 7,750 5.8%
Turkey 23,194 33,198 35,214 40,761 50,596 29.5%
UK 91,069 100,722 110,620 122,769 134,110 11.8%
Europe 375,521 432,138 466,723 505,170 542,218 11.1%
US 620,640 677,377 742,870 794,793 842,791 8.9%
Source: Business Insights Business Insights Ltd
Table 6: Payment cards per person in Europe and the US, 1999-2003
1999 2000 2001 2002 2003 AAGR 99-03
Austria 0.6 0.7 0.8 0.9 1.0 14.1%
Belgium 1.0 1.1 1.1 1.2 1.2 5.6%
Denmark 0.6 0.7 0.7 0.7 0.8 8.7%
Finland 0.6 0.7 0.8 0.8 0.9 11.8%
France 0.5 0.6 0.7 0.7 0.7 9.1%
Germany 1.1 1.3 1.3 1.4 1.4 5.6%
Greece 0.4 0.6 0.8 1.0 1.0 43.1%
Ireland 0.5 0.6 0.7 0.8 0.8 13.0%
Italy 0.5 0.6 0.7 0.7 0.8 11.8%
Netherlands 1.3 1.3 1.3 1.4 1.4 3.3%
Norway 1.0 1.1 1.3 1.4 1.5 14.4%
Portugal 0.8 1.0 1.1 1.2 1.3 16.0%
Spain 1.0 1.1 1.2 1.3 1.4 10.4%
Sweden 0.7 0.7 0.8 0.8 0.9 5.6%
Turkey 0.4 0.5 0.5 0.6 0.7 26.9%
Source: Business Insights Business Insights Ltd
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Table 7: Average number of transaction for payment cards in Europe and the US, 1999-2003
Tx/card/year 1999 2000 2001 2002 2003
AAGR 99-03
Austria 36 37 35 38 38 1.2%
Belgium 30 42 52 56 57 23.0%
Denmark 125 118 121 125 132 1.3%
Finland 81 83 86 102 122 12.6%
France 102 106 109 116 118 3.9%
Germany 36 34 35 34 34 -1.1%
Greece 18 14 13 13 14 -5.9%
Ireland 39 43 42 42 44 3.0%
Italy 23 23 22 23 22 -0.4%
Netherlands 52 56 77 72 72 9.3%
Norway 73 81 91 96 96 7.9%
Portugal 41 46 52 57 59 11.1%
Spain 33 35 35 36 36 2.4%
Sweden 66 70 78 89 104 14.3%
Turkey 24 21 22 23 23 -1.0%
UK 54 54 55 55 55 0.1%
Europe 52 54 58 61 64 5.8%
US 24 26 28 30 31 6.5%
Source: Business Insights Business Insights Ltd
Table 8: Number of pay now cards in Europe and the US, 1999-2003
000s 1999 2000 2001 2002 2003 AAGR 99-03
Austria 3,479 3,821 4,805 5,320 6,045 18.4%
Belgium 7,202 8,379 8,552 8,953 9,408 7.7%
Denmark 2,609 2,989 3,181 3,301 3,507 8.6%
Finland 1,915 2,109 2,510 2,824 3,010 14.3%
France 8,116 8,737 8,954 9,198 9,649 4.7%
Germany 77,610 87,996 90,561 91,292 91,811 4.6%
Greece 2,163 3,490 4,428 5,398 5,560 39.3%
Ireland 701 798 902 1,044 1,079 13.5%
Italy 20,496 21,659 22,808 24,984 26,379 7.2%
Netherlands 15,384 16,162 15,920 16,795 17,455 3.4%
Norway 2,763 3,318 3,623 3,732 3,994 11.1%
Portugal 6,353 7,679 8,957 9,714 10,127 14.9%
Spain 21,036 24,676 26,387 27,527 27,753 8.0%
Sweden 4,339 4,435 4,677 5,008 5,161 4.7%
Turkey 14,510 20,260 21,277 25,156 30,774 28.0%
UK 46,083 49,729 54,305 59,419 62,854 9.1%
Europe 234,759 266,237 281,847 299,665 314,566 8.5%
US 116,489 135,814 158,080 176,067 198,833 17.7%
Source: Business Insights Business Insights Ltd
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Table 9: Number of pay now cards per person in Europe and the US, 1999-2003
1999 2000 2001 2002 2003 AAGR 99-03
Austria 0.4 0.5 0.6 0.7 0.7 18.1%
Belgium 0.7 0.8 0.8 0.9 0.9 7.2%
Denmark 0.5 0.6 0.6 0.6 0.7 8.1%
Finland 0.4 0.4 0.5 0.5 0.6 13.9%
France 0.1 0.1 0.1 0.2 0.2 4.1%
Germany 0.9 1.1 1.1 1.1 1.1 4.4%
Greece 0.2 0.3 0.4 0.5 0.5 36.7%
Ireland 0.2 0.2 0.2 0.3 0.3 11.5%
Italy 0.4 0.4 0.4 0.4 0.5 6.9%
Netherlands 1.0 1.0 1.0 1.0 1.1 2.6%
Norway 0.6 0.7 0.8 0.8 0.9 10.4%
Portugal 0.6 0.8 0.9 0.9 1.0 14.0%
Spain 0.5 0.6 0.7 0.7 0.7 7.1%
Sweden 0.5 0.5 0.5 0.6 0.6 4.5%
Turkey 0.2 0.3 0.3 0.4 0.5 25.5%
UK 0.8 0.9 0.9 1.0 1.1 8.6%
Europe 0.5 0.6 0.6 0.7 0.7 7.8%
US 0.4 0.5 0.6 0.6 0.7 16.0%
Source: Business Insights Business Insights Ltd
Table 10: Number of transactions per pay now card in Europe and the US, 1999-2003
Tx/card/year 1999 2000 2001 2002 2003 AAGR 99-03
Austria 43 45 41 44 43 -0.1%
Belgium 32 49 62 67 68 27.7%
Denmark 142 134 138 145 153 1.9%
Finland 86 87 86 95 100 4.0%
France 81 87 93 102 108 8.5%
Germany 39 37 38 37 39 -0.2%
Greece 19 14 13 13 13 -7.9%
Ireland 36 43 48 53 56 14.0%
Italy 24 24 24 25 24 0.3%
Netherlands 62 67 96 89 90 11.0%
Norway 107 117 138 154 160 12.1%
Portugal 43 51 59 66 70 15.5%
Spain 38 40 40 42 43 3.7%
Sweden 74 83 92 107 124 16.8%
Turkey 20 12 13 12 11 -10.6%
UK 75 77 81 81 84 3.1%
Europe 58 60 66 71 74 7.2%
US 44 48 54 59 60 9.0%
Source: Business Insights; Business Insights Ltd
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Table 11: Average value of pay now card transactions in Europe and the US, 1999-2003
EUR 1999 2000 2001 2002 2003 AAGR 99-03
Austria 101 96 91 86 82 -4.7%
Belgium 79 66 56 54 56 -7.3%
Denmark 45 46 47 48 45 0.0%
Finland 40 38 37 35 34 -3.8%
France 71 64 61 57 55 -5.6%
Germany 122 121 113 119 123 0.2%
Greece 195 190 185 182 179 -2.1%
Ireland 52 53 58 60 62 4.8%
Italy 218 233 259 255 278 6.9%
Netherlands 57 57 61 68 67 4.4%
Norway 77 73 70 69 65 -3.9%
Portugal 40 46 46 44 45 3.1%
Spain 68 63 61 64 66 -0.7%
Sweden 68 68 66 65 62 -2.2%
Turkey 54 78 62 66 75 9.7%
UK 64 72 74 75 71 2.7%
Europe 85 85 84 84 85 0.0%
US 40 46 52 51 44 2.5%
US in US$ 46 47 49 48 48 1.0%
Source: Business Insights Business Insights Ltd
Table 12: Number of pay later cards in Europe and the US, 1999-2003
000s 1999 2000 2001 2002 2003 AAGR 99-03
Austria 1,664 1,843 1,976 2,040 2,060 5.9%
Belgium 2,897 3,039 3,148 3,124 3,177 2.4%
Denmark 456 538 575 627 682 12.4%
Finland 1,183 1,297 1,420 1,500 1,595 8.7%
France 24,773 29,187 31,551 34,382 36,137 11.5%
Germany 14,816 17,350 19,087 20,885 21,918 12.0%
Greece 1,683 3,117 4,110 5,175 5,353 54.5%
Ireland 1,248 1,353 1,656 1,875 2,041 15.9%
Italy 10,739 13,319 16,136 17,770 19,958 21.5%
Netherlands 4,299 4,833 5,028 5,145 5,452 6.7%
Norway 1,608 1,856 2,238 2,655 3,047 22.4%
Portugal 1,820 2,301 2,608 3,030 3,555 23.8%
Spain 17,954 19,874 22,850 25,782 29,063 15.5%
Sweden 1,952 2,205 2,350 2,536 2,589 8.2%
Turkey 8,684 12,938 13,937 15,605 19,822 32.1%
UK 44,986 50,993 56,315 63,350 71,256 14.6%
Europe 140,762 166,043 184,985 205,481 227,705 15.4%
US 504,152 541,562 584,789 618,727 643,959 6.9%
Source: Business Insights Business Insights Ltd
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Table 13: Number of pay later cards per person in Europe and the US, 1999-2003
Tx/card/year 1999 2000 2001 2002 2003 AAGR 99-03
Austria 0.2 0.2 0.2 0.3 0.3 5.7%
Belgium 0.3 0.3 0.3 0.3 0.3 1.6%
Denmark 0.1 0.1 0.1 0.1 0.1 11.9%
Finland 0.2 0.3 0.3 0.3 0.3 8.4%
France 0.4 0.5 0.5 0.6 0.6 10.8%
Germany 0.2 0.2 0.2 0.3 0.3 11.8%
Greece 0.2 0.3 0.4 0.5 0.5 51.4%
Ireland 0.3 0.4 0.4 0.5 0.5 13.8%
Italy 0.2 0.2 0.3 0.3 0.3 21.1%
Netherlands 0.3 0.3 0.3 0.3 0.3 5.8%
Norway 0.4 0.4 0.5 0.6 0.7 21.3%
Portugal 0.2 0.2 0.3 0.3 0.3 22.8%
Spain 0.5 0.5 0.6 0.6 0.7 14.4%
Sweden 0.2 0.2 0.3 0.3 0.3 7.9%
Turkey 0.1 0.2 0.2 0.2 0.3 29.3%
UK 0.8 0.9 1.0 1.1 1.2 14.0%
Europe 0.3 0.4 0.4 0.5 0.5 14.6%
US 1.8 1.9 2.1 2.2 2.2 5.7%
Source: Business Insights Business Insights Ltd
Table 14: Average value of pay later card transactions in Europe and the US, 1999-2003
EUR 1999 2000 2001 2002 2003 AAGR 99-03
Austria 113 111 111 112 111 -0.4%
Belgium 98 100 103 108 109 2.8%
Denmark 119 120 127 123 128 1.9%
Finland 71 72 72 71 69 -0.7%
France 56 51 51 52 52 -1.8%
Germany 92 98 98 100 98 1.6%
Greece 77 75 76 82 92 4.9%
Ireland 81 84 90 92 91 3.1%
Italy 102 101 101 98 99 -0.7%
Netherlands 96 97 101 107 108 3.1%
Norway 159 152 153 155 137 -3.5%
Portugal 60 65 67 68 67 2.9%
Spain 72 70 68 71 77 1.7%
Sweden 92 95 84 82 75 -4.6%
Turkey 37 25 25 24 28 -6.1%
UK 111 126 127 126 114 0.7%
Europe 90 90 91 92 91 0.3%
US 93 109 116 115 101 2.3%
US, in US$ 108 111 109 109 111 0.8%
Source: Business Insights Business Insights Ltd
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Table 15: Number of transactions per pay later card in Europe and the US, 1999-2003
1999 2000 2001 2002 2003 AAGR 99-03
Austria 20 21 21 21 21 1.3%
Belgium 23 24 25 25 24 1.1%
Denmark 27 27 26 25 22 -4.6%
Finland 73 77 85 114 163 30.8%
France 109 111 114 120 121 2.8%
Germany 20 19 18 17 17 -3.8%
Greece 17 14 14 14 14 -4.4%
Ireland 41 44 39 37 37 -2.4%
Italy 20 20 20 21 20 0.0%
Netherlands 17 17 17 17 16 -1.5%
Norway 15 16 15 14 14 -1.7%
Portugal 33 31 30 30 28 -3.8%
Spain 28 28 29 30 30 1.8%
Sweden 49 46 48 54 66 8.7%
Turkey 32 36 36 40 42 7.8%
UK 33 32 31 30 28 -3.8%
Europe 35 35 35 38 41 4.3%
US 20 20 21 21 22 2.2%
Source: Business Insights Business Insights Ltd
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Glossary
AAGR: Refers to the measure for 'Average Annual Growth Rate'. It is calculated using the following calculation ((((last value in series-first value in series)/first value in series)*100)/(number of years-1))
Acquired fraud: This is fraud committed in a country/region whatever the country/region of issuance.
APACS: APACS (Association for Payment Clearing Services) manages the main networks that allow UK banks and building societies to exchange payments on behalf of their customers.
Average transaction value: This is equal to the total value of transactions divided by the total number of transactions.
AVS: AVS (Address Verification System) is used on card-not-present transactions to help verify that the person is the cardholder by checking the cardholder’s billing address and CVV number.
CAGR: Compound Annual Growth Rates are used by Business Insights to give an indication of year on year growth in a market. It is calculated sing the formula: (last value in series/first value in series)^(1/(number of years in series – 1))-1.
Card-not-present fraud (CNP) also known as (MoTo): This type of fraud occurs when neither the card nor its holder is present at the point of sale, as happens in telephone, fax, mail order and Internet transactions. This crime involves using fraudulently obtained card details to make a purchase. Usually the details are taken from discarded receipts or copied down without the cardholder’s knowledge. As with
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counterfeit fraud, the legitimate cardholder may not be aware of the fraud until a statement is received.
Cards per person: The number of cards per person is calculated by dividing the total number of cards in a certain segment or category by the total population of the country concerned. It is therefore considerably lower than the actual number of cards held by the respective target groups. It does, however, give a relatively reliable indication of the level of market penetration in a particular country.
Charge card (pay later): A charge card allows customers to defer the costs of purchases made on the card until the end of the payment cycle. At this point the cardholder has a fixed period during which to settle the bill in full. A charge card account is not directly linked to a customer’s current account, although as with most cards it is possible to link the two by means of a direct debit payment.
Counterfeit fraud: A counterfeit card is either one that has been printed, embossed or encoded without permission from the issuer, or one that has been validly issued and then altered or re-coded. Most cases of counterfeit fraud involve skimming, a process where the genuine data on a card’s magnetic stripe is electronically copied on to another, without the legitimate cardholder’s knowledge. Skimming normally occurs at retail outlets – particularly bars, restaurants and petrol stations – where a corrupt employee skims a customer’s card before handing it back, then sells the information to someone higher up the criminal ladder where counterfeit cards are made. In other cases, the details obtained by skimming are used to carry out fraudulent card-not-present transactions. Often the cardholder is unaware of the fraud until a statement arrives showing purchases they did not make.
Credit card (pay later): A revolving credit card provides consumers with access to a line of credit. Consumers make payments using their card and receive a bill at the end of the billing cycle. The card issuer usually demands a minimum payment against the outstanding balance, but beyond this the customer can choose how much of the bill he
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wishes to repay, up to and including 100% of the balance outstanding. Any balances, which are not repaid within the interest free period offered by the card, incur interest at the rate advertised by the card issuer. A revolving credit card may or may not be linked to a customer’s bank account.
CVV: CVV (card verification value) can help with card-not-present fraud. It can be found on the back of cards and verifies the card number and the CVV number batch.
Debit card (pay now): A debit card allows customers to pay for purchases using a plastic card. The money is then drawn directly from the customer’s current account to pay the merchant. Customers verify payments either by signing a receipt or by entering a person identification number (PIN). A debit card does not offer access to a line of revolving credit and is always linked to a customer’s current account.
Deferred debit card (pay later): Electronic bill presentment and payment - billers, banks or central service providers establish an electronic bill capacity and provide customers with billing information and the capability to effect bill payments. The customer, in an online connection, accesses his/her billing information, reviews the bill(s) and provides the billers, bank or csp with payment instructions.
EFTPOS: This stands for ‘Electronic Fund Transfer at Point of Sale’.
EMV: This is the standard that was developed by Europay, MasterCard and Visa to create a common standard for the introduction of chip cards across Europe. Although the EMV standard refers to the standard of the actual chip card, EMV can be used in a more general sense when discussing the upgrading of payment cards to be chip-compliant.
False positive: The number of patterns classified as positive by the network that were confirmed to be negative.
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Fraud rate: The value of fraud as a proportion of the value of transactions.
Frequency of use: This is equal to the total number of transactions divided by the total number of cards.
Identity theft: There are two categories of identity theft:
Application fraud: Application fraud involves criminals using stolen or false
documents to open an account in someone else’s name. Criminals may try to steal documents such as utility bills and bank statements to build up useable information.
Alternatively, they may use counterfeited documents for identification purposes.
Account take-over: Criminals try to take over another person’s account, first by
gathering information about the intended victim. The criminal then contacts the card issuer, masquerading as the genuine cardholder, to ask that mail be redirected to a new address. The criminal then reports the card lost and asks for a replacement to be sent.
Installment credit card: This card is common in countries that are still wary of the idea of true revolving credit. Customers have access to a line of credit but must repay any outstanding balances at a fixed rate (usually 10% of the outstanding balance) each month. Interest is charged on any monies remaining outstanding. This card may or may not be linked to a customer’s current account.
Issued fraud: This is fraud committed on cards from a specific country or region.
Lost or stolen card fraud: Most fraud on lost or stolen cards takes place at retail outlets before the cardholder has reported the loss. In other cases, the card details from lost and stolen cards are used to make fraudulent card-not-present transactions.
Mail non-receipt fraud: This is when fraudsters intercept mail in order to use card details before they reach their rightful owners.
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Neural network: It is an artificial intelligent system that has the ability to identify specific behavioral patterns and trends from a set of complex raw data and detect unusual spending behavior.
Pay later card: The pay later card category includes all cards where payment for a transaction made on the card is made at a later date than that on which the transaction was made. Examples include credit cards, charge cards and deferred debit cards.
Pay now card: The pay now card category includes all cards where payment for any transaction made on the card is made at the same time as the transaction. Immediate debit cards are the main type of card in this category.
POS terminal: Point-of-sale terminal – an electronic terminal that allows merchants to accept card payments.
Private label card: Private label cards consist of store cards and multi-retailer cards, but not loyalty cards. Store cards are essentially credit cards, but can only be used in the issuing stores’ outlets. They are branded for use exclusively in a chain or group of stores and serve their stores in a variety of ways, the most obvious of which is to gain information about a store’s customer base and individuals’ spending habits. Store card credit is functionally provided either by an in-house division or by an independent finance house. Multi-retailer cards are store cards that can be used in a number of retailers’ outlets. They are branded for use in a collection of stores and, like store cards, offer a multitude of benefits to their constituent retailers. A separate finance house such as Cetelem will functionally provide multi-retailer credit.
Revolving credit card (pay later): See credit card.
SET: Secure Electronic Transactions. This has been developed by Visa and MasterCard in Europe. It protects online transactions through encrypting the data as it is sent from consumer to the merchant.
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SSL: Secure socket layer. This encrypts web pages and thus the details that are entered when making transactions. However, it differs from SET as it does not encrypt the transportation of the transaction.
Skimming: The process of copying the details contained on a card’s magnetic stripe and transferring them to a counterfeit card.
tx/yr/card: Transactions per card, per year.
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Index
3-D Secure, 63, 64, 65 ABN Amro, 85
Allied Irish Bank, 85, 88 Alpha Bank, 85, 88
American Express, 13, 25, 51, 60, 64, 78, 82, 88
ATM, 12, 48, 70, 71
average transaction value, 30, 32, 39, 40, 46, 91, 95
balance, 76, 78, 79, 104, 106 Banca Intesa, 85, 88
Banco Comercial Portugues, 85, 88 Banco Espirito Santo, 85
Bank Austria, 85, 88 Bank of Ireland, 85, 88 Bankamericard, 88 Barclaycard, 14, 82, 88 Barclays, 85
BAWAG, 85, 88 BBVA, 85, 88 Biometrics, 66 BNP Paribas, 85 BPI, 88
BSCH, 88
Caisses d' Epargne, 85
Caisses National d' Epargne, 88
Caixa Geral de Depositos, 85, 88 Cajamadrid, 85
card acceptance, 68
card issuer, 11, 12, 24, 48, 49, 50, 54, 55, 59,
card-not-present fraud, 12, 48, 49, 50, 51, 63, 105 cashless payment, 19, 22
cheques, 10, 18, 20, 21, 22, 69, 70, 74, 75, 96 chip card, 59, 60, 62, 105
competition, 40, 79, 83 contactless payment card, 75
counterfeit fraud, 12, 48, 49, 52, 57, 59, 60, 61, 62, 104
Credit Agricole, 14, 82, 85 credit line, 13, 78, 79, 80
110 Crédit Mutuel / CIC, 88
credit transfer, 20, 21, 76 cross-border fraud, 49, 56 Danske Bank, 85, 88 Deutsche Postbank, 85 Dexia, 85, 88
Diners Club, 25, 60, 64, 86, 88 direct debit, 20, 21, 76, 104 Discover, 60, 64
DNB Postbanken, 85, 88 domain, 63, 66
EFG Eurobank, 88 EFTPOS, 59, 105 Emporiki Bank, 85
EMV, 12, 48, 49, 59, 60, 61, 62, 63, 105 Forenings Sparbanken, 84, 85, 88 Fortis Bank, 85, 88
fraud, 11, 12, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 65, 66, 67, 68, 69, 103, 104, 106
Garanti Bank, 85, 88 gift card, 75
Gjensidige Nor, 85
identity theft, 49, 50, 55, 56, 65, 66, 67, 106
lost and stolen card fraud, 49, 54, 57 loyalty, 12, 48, 49, 71, 73, 78, 107 Maestro, 13, 82, 83
mail non-receipt fraud, 49, 54, 55
MasterCard, 12, 13, 25, 48, 51, 59, 60, 63, 64, 66, 67, 68, 69, 76, 80, 82, 86, 105, 107 MBNA, 88
merchant, 24, 25, 26, 37, 50, 51, 53, 60, 63, 68, 75, 105, 107
merchant acquirer, 53
National Bank of Greece, 85, 88 NatWest, 85
Neural network, 67, 107 Nordea, 85, 88
Payment Service Provider, 25
payments to business, 13, 48, 49, 74, 75 person-to-person payments, 13, 48, 49 Phishing, 65
111 PIN, 50, 51, 54, 56, 57, 59, 61, 66, 105
POS, 12, 48, 70, 71, 72, 73, 107 prepaid card, 75
Rabobank, 85, 88
Raiffeisen Zentralbank Österreich, 85, 88 RBS, 14, 82, 88
Sampo, 85, 88 San Paolo IMI, 85 SE Banken, 85, 88 SEB Kort, 88
security, 26, 50, 51, 57, 61, 62, 63, 64, 65, 68, 69
skimming, 52, 53, 57, 104
Sparebank Gruppen, 85 Sparkassen, 13, 82, 84, 85, 88 Svenska Handelsbanken, 88 transaction process, 19, 24, 25
transactions per card, 11, 18, 30, 31, 32, 34, 39, 44, 46, 94, 95
Ulster Bank, 85 Unicredito Italiano, 85
Visa, 12, 13, 25, 48, 51, 56, 57, 59, 60, 63, 64, 66, 67, 68, 76, 79, 82, 83, 86, 105, 107 Volks- und Raiffeisenbanken, 13, 82, 85, 88 Yapi & Kredi Bankasi, 85, 88