Cash placement business
According to the legal definition contained in Section 1 para. 1 sentence 2 No. 1 of the German…
Chargeback
The term “chargeback“ describes the reversal debit of a payment. This means, that the original payer regains the…
Closed loop
The terms “closed loop”, “open loop”, “restricted open loop” or “semi-closed loop” are not used uniformly in practice.…
Co-badging
The term “co-badging” is used when more than one payment brand is assigned to a payment instrument (usually…
Co-Badging
Most girocard cards have another payment brand on the front or back of the card, such as Maestro (65%),…
Co-branding
Co-branding refers to the situation when a payment instrument (usually a payment card) is marketed under a brand…
Commercial Agent Exemption
The Commercial Agent Exemption is a statutory regulation, which is defined in Section 2 para. 1 No. 2…
Corporate card
The term “corporate card” refers to what is known as “Firmenkarte” in Germany. According to Article 2 No.…
Credit card agreement
The relationship between the cardholder and the card-issuing bank is governed by a credit card agreement. The content…
Credit transfer
Pursuant to Section 1 para. 22 of the German Payment Services Supervision Act (ZAG), a credit transfer is…