Berlin—Global law firm Dentons has advised the umbrella associations of the German Banking Industry (DK) in the framework of a complex negotiation process on the realization of commitments towards the Federal Cartel Office as well as on the restructuring of the electronic cash system for negotiated merchant fees.

The necessary rephrasing of complex contracts required the German Banking Industry to negotiate with network operators such as e.g. B+S Card, Telecash and Ingenico in order to guarantee contractual and technical realization. The negotiations with the network operators were successfully settled.

The team of  Dentons Partner Dr. Jörg Karenfort and Counsel Dr. Josef Hainz had already advised the German Banking Industry in an administrative procedure with the Federal Cartel Office regarding certain regulations of the electronic cash contract. The procedure was mutually settled, resulting in commitments of the German Banking Industry. In this case, Dentons advised on the negotiations with the network operators on the realization of the commitments of the German Banking Industry.

Background information electronic cash: Electronic cash is the system used by the German banking industry for cashless payment with the girocard (formerly ec-card). With more than 90 million girocards involved, 2.5 billion annually effected transactions and a volume of more than €130 billion, it is the most important card-based payment system in Germany.

Background information German Banking Industry (Deutsche Kreditwirtschaft, DK): The German Banking Industry (Deutsche Kreditwirtschaft, DK) comprises the Federal Association of German Cooperative Banks (Bundesverband der Deutschen Volksbanken und Raiffeisenbanken, BVR), the Federal Association of German Banks (Bundesverband Deutscher Banken, BdB), the Federal Association of Public Banks in Germany (Bundesverband öffentlicher Banken Deutschlands, VÖB), the German Savings Banks and Giro Association (Deutscher Sparkassen- und Giroverband, DSGV)  and the Association of German Mortgage Banks (Verband deutscher Pfandbriefbanken, VdP).

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