The terms of participation in the electronic cash system have been amended
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:
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).