Electronic cash is managed and maintained by the Zentraler Kreditausschuss (ZKA), a common body of the banking associations in Germany, which are Bundesverband der Deutschen Volksbanken und Raiffeisenbanken BVR, Bundesverband deutscher Banken BdB, Bundesverband Öffentlicher Banken Deutschlands VÖB and Deutscher Sparkassen- und Giroverband DSGV on behalf of the banks participating in the scheme.
Electronic cash is designed to enable maximum competition between technical service providers and banks at the level of the individual merchant or cardholder. To enable this, electronic cash defines the necessary technical standards to enable interoperability and it ensures the adherence of every participant to these standards.
Since the associations themselves are not participating in the electronic cash scheme neither as acquirer nor as issuer or technical service provider a complete unbundling of the provision of services from the scheme management is ensured.