The German Banking Industry amended the ‘Merchant Terms - Terms of Participation in the German Banking Industry’s Electronic Cash System’ on 9 June 2016.

The update of the merchant terms serves to further implement EU Regulation 2015/751 (MIF Regulation) and establishes the option of cashless payment of electronic cash transactions.

The new German merchant terms can be found at:

Händlerbedingungen der Deutschen Kreditwirtschaft 06/2016 (PDF, 143.14 KB)

The merchant terms of the German Banking Industry act as a contractual basis for the acceptance of EC cash payments (EC PIN code-based debit card payments).