Geldkarte
Encyclopedia
Geldkarte is a Stored-value card
or electronic cash
system used in Germany
. It operates as an offline smart card
for small payment at things like vending machines and to pay for public transport or parking tickets. The card is pre-paid and funds are loaded onto the card using ATMs
or dedicated charging machines.
. Despite a slow initial take up from merchants and customers, it was their use in vending machines that made the system popular.
Since 1 January 2007, the card can be used to prove the holders age at cigarette vending machines. The date of birth is encoded on the card and must be verified when the card is issued, allowing the vending machine to only dispense cigarette to those that are older than 18 years of age, the legal limit in Germany.
By 2009 millions of transactions are processed each day using the GeldKarte system with an average of 45 transactions per year per person with an average value of €3.
Stored-value card
A stored-value card refers to monetary value on a card not in an externally recorded account and differs from prepaid cards where money is on deposit with the issuer similar to a debit card...
or electronic cash
Electronic cash
Electronic cash is the debit card system of the German Central Credit Committee, the association which represents the top German financial interest groups. Usually paired with a checking account, cards with an Electronic Cash logo are only handed out by proper credit institutions...
system used in Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
. It operates as an offline smart card
Smart card
A smart card, chip card, or integrated circuit card , is any pocket-sized card with embedded integrated circuits. A smart card or microprocessor cards contain volatile memory and microprocessor components. The card is made of plastic, generally polyvinyl chloride, but sometimes acrylonitrile...
for small payment at things like vending machines and to pay for public transport or parking tickets. The card is pre-paid and funds are loaded onto the card using ATMs
Automated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
or dedicated charging machines.
History
The first field trial took place in 1996 in RavensburgRavensburg
Ravensburg is a town in Upper Swabia in Southern Germany, capital of the district of Ravensburg, Baden-Württemberg.Ravensburg was first mentioned in 1088. In the Middle Ages, it was an Imperial Free City and an important trading centre...
. Despite a slow initial take up from merchants and customers, it was their use in vending machines that made the system popular.
Since 1 January 2007, the card can be used to prove the holders age at cigarette vending machines. The date of birth is encoded on the card and must be verified when the card is issued, allowing the vending machine to only dispense cigarette to those that are older than 18 years of age, the legal limit in Germany.
By 2009 millions of transactions are processed each day using the GeldKarte system with an average of 45 transactions per year per person with an average value of €3.