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Belgium to drop domestic payment network in favor of Sepa compliance

Belgium's current internal card payment system is to be dropped and replaced with the Maestro global processing platform from MasterCard by the start of 2008.

The switch to the MasterCard platform, which will take place on the first day of 2008, is designed to synergize Belgium’s domestic payment network with the new cross-Europe Sepa system due to come into force in that year, Finextra has reported.

According to the Finextra article, the Maestro network was chosen for technical and organizational reasons, however other Sepa compliant systems will be given the opportunity to establish a Belgian presence in the future.

There are currently 270 million Maestro cardholders in Europe and they will all be able to use their cards in Belgium following the switch over, Belgium’s card payments network provider Bansys said.