Proton (bank card)
Encyclopedia
Proton is an electronic purse application for debit cards
in Belgium
. The system was introduced in February 1995 with the goal to replace cash primarily for small transactions around the 15 EUR
. For security, the card is limited to storing 125 EUR
of available electronic cash (originally 5000 BEF
).
The card is used for small payments without a pin code or signature, and runs the same risk as with ordinary cash in that if the card is lost the cash value allocated to the card is also lost.
The advantage to merchants is that they can accept payments without the necessity for a bank terminal to be connected to a centralised system for approving the transaction (the transaction is approved by the card itself), and the transaction is very quick.
Proton has seen limited success in Belgium, despite being available on commonplace on parking meters
, pay phones
, and within convenience stores
; possibly due to a poor understanding of the system. Despite this, the system has also been implemented in other countries such as Chipknip in the Netherlands
, and has been considered for other markets such as Australia
.
Debit card
A debit card is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution...
in Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
. The system was introduced in February 1995 with the goal to replace cash primarily for small transactions around the 15 EUR
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
. For security, the card is limited to storing 125 EUR
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
of available electronic cash (originally 5000 BEF
Belgian franc
The franc was the currency of Belgium until 2002 when the euro was introduced into circulation. It was subdivided into centimes , 100 centiem or Centime .-History:...
).
The card is used for small payments without a pin code or signature, and runs the same risk as with ordinary cash in that if the card is lost the cash value allocated to the card is also lost.
The advantage to merchants is that they can accept payments without the necessity for a bank terminal to be connected to a centralised system for approving the transaction (the transaction is approved by the card itself), and the transaction is very quick.
Proton has seen limited success in Belgium, despite being available on commonplace on parking meters
Parking meter
A parking meter is a device used to collect money in exchange for the right to park a vehicle in a particular place for a limited amount of time. Parking meters can be used by municipalities as a tool for enforcing their integrated on-street parking policy, usually related to their traffic and...
, pay phones
Payphone
A payphone or pay phone is a public telephone, often located in a phone booth or a privacy hood, with pre-payment by inserting money , a credit or debit card, or a telephone card....
, and within convenience stores
Convenience store
A convenience store, corner store, corner shop, commonly called a bodega in Spanish-speaking areas of the United States, is a small store or shop in a built up area that stocks a range of everyday items such as groceries, toiletries, alcoholic and soft drinks, and may also offer money order and...
; possibly due to a poor understanding of the system. Despite this, the system has also been implemented in other countries such as Chipknip in the Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
, and has been considered for other markets such as Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
.