Interpay, the organisation responsible for smooth and trouble-free payments in the Netherlands, was looking for a new name for a completely new method of payment - a kind of electronic wallet. The name had to be new and unique. It had to describe the service, it had to be legally protectable and it had to be easy for the whole of the Dutch population to use. Essentially it had to have the potential to become a household name in the Netherlands. CHIPKNIP – the name that Interpay eventually decided on – is virtually a literal translation of ‘electronic wallet’. Lame imitations such as Chipper have come and gone, but ChipKnip is here to stay. ChipKnip was one of the names suggested in the first presentation.