European Payment Cards Yearbook

Luxembourg - Summary

	Price: £50.00
Market Overview
Payment Organization	CETREL is the central body in the card payments market. Since 2009, Swiss SIX Group has a 50% stake in CETREL.

Domestic Card Brands	Bancomat-Maestro debit cards, phased out end-2011. MiniCASH, the electronic purse, phased out end-2011

Market Structure	CETREL manages the Bancomat POS and ATM infrastructure, acts as an acquirer and offers card processing and issuer services to issuers in Luxembourg and in Europe. Card use at the POS in Luxembourg is high. Because of Luxembourg’s location and financial services-based economy, a high proportion of transactions are by visitors. All Bancomat debit cards were replaced by Maestro or V PAY cards by end-2011; Bancomat card brand phased-out. In 2007, Paypal became e-money institution (EMI) with European passport licensed by CSSF of Luxembourg.

Major Issuers	BGL BNP Paribas, BCEE Banque et Caisse d´Epargne de l´Etat, and foreign banks Dexia, KBC, and ING

Major Acquirers	CETREL.

Key Statistics 2010
Population	506,600
Cards	Debit: 535,000 Credit: 804,000 Total: 1,339,000