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EFTPOS
Electronic funds transfer at point of sale, abbreviated as EFTPOS (), is a type of payment transaction in which electronic funds transfers (EFT) are processed at a point of sale (POS) system or payment terminal usually via payment methods such as payment cards (debit cards, credit cards or gift cards). EFTPOS technology was developed during the 1980s. As a payment network In Australia and New Zealand, EFTPOS is also the brand name for the interbank electronic payment system network used for facilitating eftpos types of payments. Other countries use different brand names for their EFTPOS systems, such as NETS in Singapore, Interlink in the United States or Link in the UK. Since the early 2010s, country specific EFTPOS systems have been overtaken by global EMV based systems with contactless payments or QR code payment systems. The payment cards used by EFTPOS systems are plastic cards complying with ISO/IEC 7810 ID-1 standard that have a bank card number conforming ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Debit Cards
A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either the front or the back. Many new cards now have a chip on them, which allows people to use their card by touch (contactless), or by inserting the card and keying in a PIN as with swiping the magnetic stripe. Debit cards are similar to a credit card, but the money for the purchase must be in the cardholder's bank account at the time of the purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase. Some debit cards carry a Stored-value card, stored value with which a payment is made (prepaid cards), but most relay a message to the cardholder's bank to withdraw funds from the cardholder's designated bank account. In some cases, the payment card number is assigned exclusively for use on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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NETS (company)
Network for Electronic Transfers, colloquially known as NETS, is a Singaporean EFTPOS, electronic payment service provider. Founded in 1986 by a consortium of local banks, it aims to establish the Debits and credits, debit network and drive the adoption of E-commerce payment system, electronic payments in Singapore. It is owned by DBS Bank, OCBC Bank and United Overseas Bank, United Overseas Bank (UOB). The NETS Group (comprising NETS, BCS and BCSIS) provides a full suite of payments and financial processing services including direct debit and credit payments at point-of-sale (NETS) and online (eNETS), mobile payments (NETSPay), card services (CashCard, FlashPay card), electronic funds transfer (FAST, PayNow, GIRO) and payment and clearing services (Real-Time Gross Settlement, Cheque Truncation System). NETS is also a member of the Asian Payment Network (APN) and a council member of UnionPay International. History NETS was first introduced to the public on 27 June 1985 as a 2-mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Interbank Network
An interbank network, also known as an ATM consortium or ATM network, is a computer network that enables ATM cards issued by a financial institution that is a member of the network to be used to perform ATM transactions through ATMs that belong to another member of the network. However, the functions which may be performed at the network ATM vary. For example, special services, such as the purchase of mobile phone airtime, may be available to own-bank but not to network ATM cardholders. Furthermore, the network ATM owner may charge a fee for use of network cards (in addition to any fees imposed by the own-bank). Interbank networks enable ATM cardholders to have access to ATMs of other banks that are members of the network when their own bank's ATM is unavailable. This is especially convenient for travelers traveling abroad, where multinational interbank networks, like Plus or Cirrus, are widely available. Interbank networks also permit, through different means, the use of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Bankcard
Bankcard was a shared brand credit card issued by financial institutions in Australia and New Zealand between 1974 and 2006. It was managed by the ''Bankcard Association of Australia'', a joint venture of Australia's largest banks, and was the nation's first mass market credit card. Before 1974, only store cards, Diners Club and American Express were available in Australia and these were either restrictive or only accessible to the wealthy. In the first decade after its introduction, Bankcard dominated the Australian credit card market, with more than five million cardholders at its peak in 1984.Bankcard victim of credit card war , bandt.com.au, Retrieved 20 August 2009 As a result of a declining cardholder base, falling transaction volumes and shrinking market share in relation to internationally accepted cre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Payment Terminal
A payment terminal, also known as a point of sale (POS) terminal, credit card machine, card reader, PIN pad, EFTPOS terminal (or by the older term as PDQ terminal which stands for "Process Data Quickly"), is a device which interfaces with payment cards to make electronic funds transfers. The terminal typically consists of a secure keypad (called a PINpad) for entering PIN, a screen, a means of capturing information from payments cards and a network connection to access the payment network for authorization. A payment terminal allows a merchant to capture required credit and debit card information and to transmit this data to the merchant services provider or bank for authorization and finally, to transfer funds to the merchant. The terminal allows the merchant or their client to swipe, insert or hold a card near the device to capture the information. They are often connected to point of sale systems so that payment amounts and confirmation of payment can be transferred aut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Bankcard
Bankcard was a shared brand credit card issued by financial institutions in Australia and New Zealand between 1974 and 2006. It was managed by the ''Bankcard Association of Australia'', a joint venture of Australia's largest banks, and was the nation's first mass market credit card. Before 1974, only store cards, Diners Club and American Express were available in Australia and these were either restrictive or only accessible to the wealthy. In the first decade after its introduction, Bankcard dominated the Australian credit card market, with more than five million cardholders at its peak in 1984.Bankcard victim of credit card war , bandt.com.au, Retrieved 20 August 2009 As a result of a declining cardholder base, falling transaction volumes and shrinking market share in relation to internationally accepted cre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Interlink (interbank Network)
Visa Inc. () is an American multinational payment card services corporation headquartered in San Francisco, California. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards. Visa does not issue cards, extend credit, or set rates and fees for consumers; rather, Visa provides financial institutions with Visa-branded payment products that they then use to offer credit, debit, prepaid and cash access programs to their customers. In 2015, the Nilson Report, a publication that tracks the credit card industry, found that Visa's global network (known as VisaNet) processed 100 billion transactions during 2014 with a total volume of US$6.8 trillion. This article is authored by a ''Forbes'' staff member. Visa was founded in 1958 by Bank of America (BofA) as the BankAmericard credit card program. Available through SpringerLink. In response to competitor Master Charge (now Mastercard ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Point Of Sale
The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt, as proof of transaction, which is usually printed but can also be dispensed with or sent electronically. To calculate the amount owed by a customer, the merchant may use various devices such as weighing scales, barcode scanners, and cash registers (or the more advanced "POS cash registers", which are sometimes also called "POS systems"). To make a payment, payment terminals, touch screens, and other hardware and software options are avail ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Australian Payments Network
Australian Payments Network Limited (AusPayNet), formerly the Australian Payments Clearing Association (APCA) is the self-regulatory body set up by the payments industry to improve the safety, reliability, equity, convenience and efficiency of payment systems in Australia. AusPayNet has over 140 members which include Australia's leading financial institutions, such as banks, building societies and credit unions, as well as major retailers and other service providers. AusPayNet administers a number of payment systems in Australia. AusPayNet sets, manages and develops regulations, procedures and standards governing payments clearing and settlement within Australia. Payments systems covered by AusPayNet's rules include cheques, direct debits and credits, aspects of ATM and EFTPOS transactions, high value payments and the distribution of wholesale cash. Its role includes strategic direction and regulatory policy for the Australian payments system. AusPayNet provides a venue for c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Automated Teller Machine
An automated teller machine (ATM) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, funds transfers, balance inquiries or account information inquiries, at any time and without the need for direct interaction with bank staff. ATMs are known by a variety of other names, including automatic teller machines (ATMs) in the United States (sometimes RAS syndrome, redundantly as "ATM machine"). In Canada, the term automated banking machine (ABM) is also used, although ATM is also very commonly used in Canada, with many Canadian organizations using ATM rather than ABM. In British English, the terms cashpoint, cash machine and hole in the wall are also used. ATMs that are Independent ATM deployer, not operated by a financial institution are known as "White-label ABMs, white-label" ATMs. Using an ATM, customers can access their bank deposit or credit accounts in order to make ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |