In order to push and to develop the chip based EMV payment method in the Swiss market, the mentioned companies above combined their forces and developed the standard ep2 for card present and distance payment. With this ep2 standard the current eft/pos infrastructure of credit and debit terminals, as well for vending machines in Switzerland is defined. The result is an open system based on international standards and recommendations. The ep2 standard has been introduced in May 31, 2003 and fulfills all needs of a modern cashless payment instrument.