Home Press room Press releases Signing of a Charter on Implementation of Security Measures for Bank Card Payments  
 
 
 

Press release  

 

Signing of a Charter on Implementation of Security Measures for Bank Card Payments

The Association Française des Etablissements de Crédit et des Entreprises d'Investissement (AFECEI), the Fédération Bancaire Française and the Groupement des Cartes Bancaires "CB" are satisfied with the measures introduced by the Minister of Economics, Finance and Industry and aiming at reinforcing card payment security. They signed a Charter, committing all the establishments issuing payment cards, bank cards and private cards.


The measures announced this morning by the Minister of Economics, Finance and Industry are the result of several months of work, consultation and reflection, set to improve card payment security. The representatives of the banking profession were among the most active members of these working groups, whose conclusions were used in the charters committing respectively the banking and the trade sectors.


These commitments consolidate a set of initiatives and actions launched a few months ago by the banks belonging to the Groupement des Cartes Bancaires "CB" :


  • Agreement between the Conseil du Commerce de France and the Groupement des Cartes Bancaires "CB" signed in January 2001, committing 5 billion francs to upgrade all the card payment terminals.
  • Modernization of the teller machines, already made for more than 80% of the total number, and deemed for completion by June 2001.
  • Agreement reached with distance selling and online commerce businesses on concrete measures so as to restore card holders' confidence and improve e-commerce security.
  • In all these areas, setting up of international security standards to fight the internationalisation of fraud.

The Charter, signed this morning in presence of Laurent Fabius, Minister for Economics, Finance and Industry and François Patriat, Secretary of State for Small and Medium Business, is consistent with a movement of reinforcement and acceleration of security measures for cards issued both by banks and non-banks. In addition to current measures, it plans :


  • to improve the information of card holders on security instructions and procedures requirements and refunding for stopping payments or ways of refunding
  • to simplify current procedures for stopping payments
  • to consider the sharing out of expenses, in the event of disputes.
  • to carry on security reinforcement.

Implementing these measures before the end of June 2001 is the goal set by all participants.The AFECEI, representing the whole of the banking profession, is committed to implement mainly via the Groupement des Cartes Bancaires "CB", the implement of the specific measures and the schedule.

CONTACT

Colette Cova
email : ccova@fbf.fr
Tel : 01 48 00 50 07

Kenza Benqeddi
email : kbenqeddi@fbf.fr
Tel : 01 48 00 50 08

 
 
Top of the page