Currence is the owner of the PIN brand and issues licensing and certification contracts to parties that offer services related to this brand. These contracts form the basis for access to the market of payments via PIN.
 
On 19 February 2010, Currence sent its licence and certificate holders a letter informing them of its plans to take the PIN product off the market and cancel the corresponding licenses and certificates as of 1 January 2012. This plan is the result of market developments which will lead to all payments with debit cards taking place via the EMV chip at the end of 2011. The majority of Currence’s licence holders have indicated that they will not be making use of the PIN brand for this new payment technology. This means there is no longer a basis for continuing the brand after that date and that Currence has no alternative but to take the abovementioned step.
 
Currence has asked the holders of PIN licences and certificates to inform their customers of Currence’s plans in the short term and to advise them to take timely action to conclude additional contracts enabling them to accept other payment brands. They need to do this to make sure they can continue to receive payments by debit card after PIN is discontinued.
 
For general information about the changes to the electronic payment system, go to www.hetnieuwepinnen.nl (in Dutch only).