As with the Euro for cash, the European Authorities also want a single market for card transactions and bank accounts. SEPA (Single Euro Payments Area) for cards alone is expected to make substantial cost savings for individuals and companies in transaction costs. In addition, some national payment card systems – such as Bancontact/MisterCash in Belgium, Pin in The Netherlands, Bancomat in Luxemburg, Laser in Ireland – will not become SEPA compliant and will have to be replaced by European schemes. PayFair is an independent initiative enabling banks to offer consumers and merchants a SEPA compliant European payment method which is supporting contactless as well as mobile payments and low value payments. What makes PayFair different is that it is developed with the SEPA criteria in mind, according to co-founder and CEO Dominique Buysschaert. “We offer a card for the whole of Europe that benefits consumers, merchants and banks, precisely as the authorities want to see it. Among our strengths are efficiency, transparency and independent governance in which all parties are represented. Safety standards are on the highest level, thanks to newly developed infrastructure leveraging latest technologies, guaranteeing maximum efficiency and the absence of legacy problems and fraud.” As a next step starting from this kick-off, more stores accepting the PayFair card are foreseen before end of the year. In the coming year PayFair also expects to launch in Germany in partnership with easycash, a leading German network service provider. Next on the list are France and The Netherlands as well as other European countries. www.payfair.eu