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The
delay marks a major snag in the so-called European Payments
Initiative (EPI), which aims to become a new standard means of
payment by offering a card for consumers and retailers across
Europe.
A majority of the shareholders in Belgium, Germany and France
want to move ahead with the project, EPI Interim Company said in
a statement on its website.
"Other shareholders, such as some Spanish banks, will provide
their answer in January," it said.
Holdouts include Germany's Commerzbank and DZ Bank, people with
knowledge of the matter told Reuters. The two lenders are
currently planning to exit the project on concerns over a
relatively high cost of equity participation for German banks,
the sources said.
Unicredit's German operations are also no longer planning to
participate but will examine any future proposals, a
spokesperson said.
Last month, the venture appealed for public money appealed on
Tuesday for public money, saying its private backers were not
prepared to stump up all the cash needed, saying private backers
were not prepared to stump up all the cash needed.
Deutsche Bank and BNP Paribas have been among the banks backing
the project.
(Reporting by Tom Sims; Editing by Kirsten Donovan and
Bernadette Baum)
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