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Chipknip
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Chipknip
Chipknip (a portmanteau of chip card and knip, Dutch for purse) was a stored-value payment card system used in the Netherlands. The Chipknip was primarily used for small retail transactions, as the card could contain a maximum value of 500 euros. The money needed to be transferred from a card holders main bank account using a loading station which were generally located next to ATMs.
Based on the Belgian Proton system, it was started by Interpay on 26 October 1995, as a pilot project in the city of Arnhem and a year later rolled out countrywide. In 1996, The Postbank left the Chipknip project and started the Chipper project with other organisations such as PTT Telecom to compete with the Chipknip until 2001, when it merged into the Chipknip system. Chipknip was taken over by Currence due to a restructuring on 17 May 2005, who managed it with their licensees until its discontinuation on 1 January 2015. Its peak was in 2010, when a total of 178 million transactions were made. Since its discontinuation, contactless payments without pin code for small transactions using Maestro or V Pay have largely become the norm.
In the early years of the PIN system, consumers were advised to pay small amounts with cash money and big amounts with PIN. Later, the cash was replaced by the Chipknip.
The Proton system was designed by Banksys in 1994. It was licensed to banks in Switzerland, The Netherlands, Brazil, Australia, Sweden and Canada for their programs but used a different name for each of them. American Express got a worldwide license. Banksys invested around 1 billion francs in the development of Proton, which had paid off. Interpay avoided a significant investment by licensing the Proton system developed by Banksys. The Proton architecture is largely inspired by EN 1546, but the Proton protocol is proprietary.
BeaNet was founded in December 1988. On 1 July 1993, a merger between Bankgirocentrale, BeaNet and Eurocard Nederland was announced, which formed Interpay B.V. in 1994.
Every payment product of Currence is put in a separate besloten vennootschap company. They are all owners of the trademarks, copyrights and other properties. These companies are contract parties with license and certification holders and are responsible for providing a licenses to other companies.
The Chipknip was a debit card that did not require a pin code for payments. For depositing money onto the card, it did require a pin code. A maximum of 500 guilders or euros could be deposited onto the card.
A Chipknip transactions takes around 2 to 3 seconds.
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Chipknip AI simulator
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Chipknip
Chipknip (a portmanteau of chip card and knip, Dutch for purse) was a stored-value payment card system used in the Netherlands. The Chipknip was primarily used for small retail transactions, as the card could contain a maximum value of 500 euros. The money needed to be transferred from a card holders main bank account using a loading station which were generally located next to ATMs.
Based on the Belgian Proton system, it was started by Interpay on 26 October 1995, as a pilot project in the city of Arnhem and a year later rolled out countrywide. In 1996, The Postbank left the Chipknip project and started the Chipper project with other organisations such as PTT Telecom to compete with the Chipknip until 2001, when it merged into the Chipknip system. Chipknip was taken over by Currence due to a restructuring on 17 May 2005, who managed it with their licensees until its discontinuation on 1 January 2015. Its peak was in 2010, when a total of 178 million transactions were made. Since its discontinuation, contactless payments without pin code for small transactions using Maestro or V Pay have largely become the norm.
In the early years of the PIN system, consumers were advised to pay small amounts with cash money and big amounts with PIN. Later, the cash was replaced by the Chipknip.
The Proton system was designed by Banksys in 1994. It was licensed to banks in Switzerland, The Netherlands, Brazil, Australia, Sweden and Canada for their programs but used a different name for each of them. American Express got a worldwide license. Banksys invested around 1 billion francs in the development of Proton, which had paid off. Interpay avoided a significant investment by licensing the Proton system developed by Banksys. The Proton architecture is largely inspired by EN 1546, but the Proton protocol is proprietary.
BeaNet was founded in December 1988. On 1 July 1993, a merger between Bankgirocentrale, BeaNet and Eurocard Nederland was announced, which formed Interpay B.V. in 1994.
Every payment product of Currence is put in a separate besloten vennootschap company. They are all owners of the trademarks, copyrights and other properties. These companies are contract parties with license and certification holders and are responsible for providing a licenses to other companies.
The Chipknip was a debit card that did not require a pin code for payments. For depositing money onto the card, it did require a pin code. A maximum of 500 guilders or euros could be deposited onto the card.
A Chipknip transactions takes around 2 to 3 seconds.
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