Currence is the owner of the Dutch uniform payment products PIN (debit card plus PIN code),
Chipknip (electronic purse), Incasso (direct debit), Acceptgiro (giro collection forms) and iDEAL
greater transparency and competition in payments
In 2002, the Wellink commission recommended to promote greater transparency and competition in payments. As a result, product ownership and regulation are separated from transaction processing. Currence was initiated by eight Dutch banks in order to do this in a clear, streamlined way.
internationally useable company name
Develop an internationally usable name for a company that manages and licenses a multitude of payment products in an efficient and responsible way.
Currence on their name:
“Currence is not an existing word but it does have associations with English ‘current’ and ‘currency’. There is immediately a suggestion that it has something to do with money. But there are other connotations, too, such as ‘being up-to-date’ and ‘flow’. And those are the qualities we want to communicate: we stand for a modern, straightforward and efficient payment system. In Dutch, the word also suggests competition (Dutch: ‘concurrentie’). That, too, is not accidental, because facilitating greater competition is an important goal of our organisation.”