Currence is a Dutch association set up the banks that coordinates the
payment systems
A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, instruments, people, rules, procedures, standards, and technologies that make its exchange possible.Biago ...
in the Netherlands. Its aim is to "facilitate and provide market transparency while maintaining the quality and safety of the
payment system
A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, instruments, people, rules, procedures, standards, and technologies that make its exchange possible.Biago ...
s of the Netherlands." Currence's CEO is Piet Mallekoote.
History
Currence was founded on 1 January 2005 through an initiative by eight Dutch banks (
ABN AMRO
ABN or abn may refer to:
Companies
* ABN AMRO Group, a Dutch bank group
* ABN AMRO, sometimes referred to as "ABN" in shorthand, is a Dutch state-owned bank
* Algemene Bank Nederland, a now-defunct Dutch bank
Radio, news and television organizat ...
,
Rabobank
Rabobank (; full name: ''Coöperatieve Rabobank U.A.'') is a Dutch multinational banking and financial services company headquartered in Utrecht, Netherlands. The group comprises 89 local Dutch Rabobanks (2019), a central organisation (Raboban ...
,
ING Groep,
Fortis
Fortis may refer to:
Business
* Fortis AG, a Swiss watch company
* Fortis Films, an American film and television production company founded by actress and producer Sandra Bullock
* Fortis Healthcare, a chain of hospitals in India
* Fortis Inc ...
,
SNS Bank
De Volksbank () is a Dutch retail bank offering financial products to both companies and individuals. Prior to a 2017 restructuring, it was called SNS Bank, which remains its major brand name. It became a subsidiary of SNS Reaal in 1997 when the ...
,
BNG,
Friesland Bank
Friesland Bank was a Dutch retail bank originally focusing on the northern provinces of the Netherlands, Friesland, Groningen (province), Groningen, Drenthe, Overijssel, and North Holland. On 2 April 2012 Friesland Bank announced that it would be ...
and
Van Lanschot Kempen
Van Lanschot Kempen N.V. is a specialised, independent wealth manager that provides private banking, investment management and investment banking services to wealthy individuals and institutions. It is headquartered in 's-Hertogenbosch, the Nether ...
). It was originally known as ''Brands & Licences Betalingsverkeer Nederland B.V.'' during its development stage and was renamed as Currence from the 17 May 2005.
Aims and responsibilities
It is responsible for coordinating payment methods and facilitating cooperation between payment providers by providing standards and transparency while maintaining the quality and safety of the payment systems in the Netherlands.
It attempts to do this by setting clearly defined standards for all parties wishing to use the Currence payment products,
PIN
A pin is a device used for fastening objects or material together.
Pin or PIN may also refer to:
Computers and technology
* Personal identification number (PIN), to access a secured system
** PIN pad, a PIN entry device
* PIN, a former Dutch de ...
,
Chipknip
Chipknip (a portmanteau of '' chip card'' and ''knip'', Dutch for purse) was a stored-value payment card system used in the Netherlands. Based on the Belgian Proton system, it was started by Interpay on October 26, 1995, as a pilot project in ...
,
Acceptgiro,
Incasso/Machtigen and
iDEAL
Ideal may refer to:
Philosophy
* Ideal (ethics), values that one actively pursues as goals
* Platonic ideal, a philosophical idea of trueness of form, associated with Plato
Mathematics
* Ideal (ring theory), special subsets of a ring considere ...
, are able to operate. To create a level playing field it sets clear rules and regulations relating to product use and the product environment and regulates and supervises participants.
References
External links
*
Payment systems organizations
Financial services in the Netherlands
Banking organizations
2005 establishments in the Netherlands
{{Netherlands-org-stub