BVZI – Bundesverband der Zahlungsinstitute
The Bundesverband der Zahlungsinstitute (BVZI) (Federal Association of Payment Institution) was established on 21st October 2009 after the enactment of the Payment Services Supervision Act (ZAG), a law that implements the Payment Service Directive and regulates the activities of payment institutions.
The aim of BVZI is to act in its members' common interests in its dealing with legislative authorities, the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), the German Federal Bank (Deutsche Bundesbank), German Banking Community (Deutsche Kreditwirtschaft, formerly ZKA- Zentraler Kreditausschuss), the German Federal Ministry of Finance (Bundesfinanzministerium) and card organisations.
The association also holds workshops that give its members the opportunity to exchange information about their experiences with regulators and to pose specific questions (e.g. on topics such as the ZAG, control of money laundering, data protection, registration etc.). The BVZI is supported by Dr Richard Reimer, Partner at Hogan Lovells International LLP, an international law firm.
Payment institutions that hold a BaFin licence or who have applied for one can become members of the association. Membership is also open to the following types of institute:
- Local subsidiaries of foreign payment institutes
- Local e-money institutes
- Local subsidiaries of foreign e-money institutes
American Express Services Europe, Arvato Payment Solutions GmbH, B+S Card Service, CardProcess, cardtech Card & POS Service, ConCardis, Deutsche Post Zahlungsdienste, easycash, EURO Kartensysteme, EVO Payments International, ICP International Cash Processing, InterCard, LAVEGO AG, Lufhansa AirPlus Servicekarten, PAYONE GmbH, paysafecard.com Deutschland, transact Elektronische Zahlungssysteme, VÖB-ZVD Processing and MoneyGram International Limited.
The association was, upon the recommendation of the Ministry of Finance, actively involved in various legislative projects, such as the implementation of (a) the new Second E-money Directive and (b) SEPA regulation into national law. The BVZI also played a role in the campaign to improve anti-money laundering legislation by presenting a statement on the matter.
The BVZI is, upon the invitation of the Ministry of Finance and the Deutsche Bundesbank, represented in the newly-founded German SEPA council.