ServiRed, Sociedad Española de Medios de Pago, S.A. is Spain’s leading card payment scheme. It has 40 million cards in circulation, 945,900 merchants, and 33,800 ATMs. ServiRed has 103 members (banks, savings banks, and credit cooperatives), of which 69 are shareholders in the company.
The ServiRed scheme provides international interoperability through co-branding with Visa and MasterCard, for which it is licensed as a Group Member of Visa Europe and as a Principal Member of MasterCard Worldwide, and thus its members are empowered to issue Visa and MasterCard products and to acquire transactions made with them.
ServiRed’s services rest on three main pillars:
1To promote the use of electronic payments
2To represent our members before international payments systems, regulatory bodies, associations, and institutions
3To manage the ServiRed brand, and to set and uphold the rules of the domestic payments scheme, strengthening its position in the national and international markets
ServiRed’s mission is to facilitate the transition from the use of cash to more efficient means of payment in ways that are beneficial both to our member banks and to society in general.
The most important activities carried out by ServiRed in its mission of replacing cash in payments are as follows:
All these activities take place against a backdrop of continuous commercial and technological innovation, which ensures that holders of ServiRed cards can make payments at millions of merchants in Spain and all over the world, quickly, easily, and safely.
In addition to the many advantages for cardholders, the use of ServiRed cards facilitates management of business expenses by the merchants which accept them, and provides greater security by eliminating the negative aspects of using cash, such as theft and loss.