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Electronic Funds Transfer At Point Of Sale
Electronic funds transfer at point of sale (EFTPOS; ) is an electronic payment system involving electronic funds transfers based on the use of payment cards, such as debit or credit cards, at payment terminals located at points of sale. EFTPOS technology was developed during the 1980s. In Australia and New Zealand, it is also the brand name of a specific system used for such payments; these systems are mainly country-specific and do not interconnect. In Singapore, it is known as NETS. Debit and credit cards are embossed plastic cards complying with ISO/IEC 7810 ID-1 standard. The cards have an embossed bank card number conforming with the ISO/IEC 7812 numbering standard. History EFTPOS technology originated in the United States in 1981 and was rolled out in 1982. Initially, a number of nationwide systems were set up, such as ''Interlink'', which were limited to participating correspondent banking relationships, not being linked to each other. Consumers and merchants were s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payment Terminals Used By NETS SG
A payment is the voluntary tender of money or its equivalent or of things of value by one party (such as a person or company) to another in exchange for goods, or services provided by them, or to fulfill a legal obligation. The party making the payment is commonly called the payer, while the payee is the party receiving the payment. Payments can be effected in a number of ways, for example: * the use of money, cheque, or debit, credit, or bank transfers, whether through mobile payment or otherwise * the transfer of anything of value, such as stock, or using barter, the exchange of one good or service for another. In general, payees are at liberty to determine what method of payment they will accept; though normally laws require the payer to accept the country's legal tender up to a prescribed limit. Payment is most commonly effected in the local currency of the payee unless the parties agree otherwise. Payment in another currency involves an additional foreign exchange transaction ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of New Zealand
Bank of New Zealand (BNZ) is one of New Zealand's Big Four (banking), big four banks and has been operating in the country since the first office was opened in Auckland in October 1861 followed shortly after by the first branch in Dunedin in December 1861. The bank operates a variety of financial services covering retail banking, retail, business and institutional banking and employs over 5,000 people in New Zealand. In 1992 the bank was purchased by the National Australia Bank and has since then operated as a subsidiary, but it retains local governance with a New Zealand board of directors. As of June 2022, BNZ is the second largest bank operating in New Zealand, with a market share of 19.1%. History * 1861: The Bank of New Zealand formed as a private company and incorporated by The New Zealand Bank Act 1861 creating the company and authorising it to issue banknotes. First branch in New Zealand opened in Queen Street, Auckland, Queen Street in Auckland and a Dunedin branch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australia & New Zealand Banking Group
The Australia and New Zealand Banking Group Limited (ANZ) is an Australian multinational banking and financial services company headquartered in Melbourne, Victoria. It is Australia's second-largest bank by assets and fourth-largest bank by market capitalisation. Its current corporate entity was established on 1 October 1970, when the Australia and New Zealand Bank (ANZ) merged with the English, Scottish & Australian Bank (ES&A). It was the largest bank merger in Australian history at the time. The Australia and New Zealand Bank had in turn been founded in 1951 as a merger of the Bank of Australasia and the Union Bank of Australia, which were established in 1835 and 1837 respectively. ANZ is one of the Big Four Australian banks, along with the Commonwealth Bank, NAB and Westpac. Australian operations make up the largest part of ANZ's business, with commercial and retail banking dominating. ANZ is also the largest bank in New Zealand, where the legal entity became known as A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Australia Bank
National Australia Bank (abbreviated NAB, branded nab) is one of the four largest financial institutions in Australia (colloquially referred to as "The Big Four") in terms of market capitalisation, earnings and customers. NAB was ranked 21st-largest bank in the world measured by market capitalisation and 52nd- largest bank in the world as measured by total assets in 2019. , NAB operated 3,500 Bank@Post locations—including 7,000+ ATMs across Australia, New Zealand, and Asia—and served 9 million customers. NAB has an "AA-" long-term issuer rating by Standard & Poor's. History Early history National Australia Bank was formed as National Commercial Banking Corporation of Australia Limited in 1982 by the merger of National Bank of Australasia and the Commercial Banking Company of Sydney. The resulting company was subsequently renamed National Australia Bank Limited. The expanded financial base of the merged entity triggered significant offshore expansion over ensuing years. R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Westpac
Westpac Banking Corporation, known simply as Westpac, is an Australian multinational banking and financial services company headquartered at Westpac Place in Sydney, New South Wales. Established in 1817 as the Bank of New South Wales, it acquired the Commercial Bank of Australia in 1982 before being renamed to Westpac Banking Corporation. Westpac is one of Australia's Big Four (banks)#Australia, Big Four banks, and is Australia's first and oldest banking institution. Its name is a portmanteau of "Western" and "Pacific". As of 2021, Westpac has 14 million customers worldwide, and employs around 40,000 people. History Established in Sydney Sydney ( ) is the capital city of the state of New South Wales, and the most populous city in both Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Sydney Harbour and extends about towards the Blue Mountain ... in 1817, the Bank of New South Wales (BNSW) was the first bank in Australia. Edward S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commonwealth Bank
The Commonwealth Bank of Australia (CBA), or CommBank, is an Australian multinational bank with businesses across New Zealand, Asia, the United States and the United Kingdom. It provides a variety of financial services including retail, business and institutional banking, funds management, superannuation, insurance, investment and broking services. The Commonwealth Bank is the largest Australian listed company on the Australian Securities Exchange as of August 2015 with brands including Bankwest, Colonial First State Investments, ASB Bank (New Zealand), Commonwealth Securities (CommSec) and Commonwealth Insurance (CommInsure). Its former constituent parts were the Commonwealth Trading Bank of Australia, the Commonwealth Savings Bank of Australia, and the Commonwealth Development Bank. Founded in 1911 by the Australian Government and fully privatised in 1996, the Commonwealth Bank is one of the " big four" Australian banks, with the National Australia Bank (NAB), ANZ and Wes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vending Machine
A vending machine is an automated machine that provides items such as snacks, beverages, cigarettes, and lottery tickets to consumers after cash, a credit card, or other forms of payment are inserted into the machine or otherwise made. The first modern vending machines were developed in England in the early 1880s and dispensed postcards. Vending machines exist in many countries and, in more recent times, specialized vending machines that provide less common products compared to traditional vending machine items have been created. History The earliest known reference to a vending machine is in the work of Hero of Alexandria, an engineer, and mathematician in first-century Roman Egypt. His machine accepted a coin and then dispensed holy water. When the coin was deposited, it fell upon a pan attached to a lever. The lever opened a valve which let some water flow out. The pan continued to tilt with the weight of the coin until it fell off, at which point a counterweight snapped th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ATM Card
An ATM card is a payment card or dedicated payment card issued by a financial institution (i.e. a bank) which enables a customer to access their financial accounts via its and others' automated teller machines (ATMs) and to make approved point of purchase retail transactions (i.e. gas stations, grocery, hardware, department stores, etc.) ATM cards are not credit cards or debit cards. ATM cards are payment card size and style plastic cards with a magnetic stripe and/or a plastic smart card with a chip that contains a unique card number and some security information such as an expiration date or CVVC (CVV). ATM cards are known by a variety of names such as bank card, MAC (money access card), client card, key card or cash card, among others. Other payment cards, such as debit cards and credit cards can also function as ATM cards. Charge and proprietary cards cannot be used as ATM cards. The use of a credit card to withdraw cash at an ATM is treated differently to a point of sale ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Competition & Consumer Commission
The Australian Competition and Consumer Commission (ACCC) is the chief competition regulator of the Government of Australia, located within the Department of the Treasury. It was established in 1995 with the amalgamation of the Australian Trade Practices Commission and the Prices Surveillance Authority to administer the '' Trade Practices Act 1974'', which was renamed the ''Competition and Consumer Act 2010'' on 1 January 2011. The ACCC's mandate is to protect consumer rights and business rights and obligations, to perform industry regulation and price monitoring, and to prevent illegal anti-competitive behaviour. Historical origins The ACCC's deeper origins are found in the Restrictive Trade Practices Act of Sir Garfield Barwick, Attorney-General in the Liberal Government of Sir Robert Menzies in 1965. Opponents derided Barwick's Trade Practices Act 1965 as "ineffectual". (The Act) did not declare any practices illegal ipso facto, but only did so after detailed investigatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Payments Clearing Association
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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Live Group
Live may refer to: Arts, entertainment, and media Films * ''Live!'' (2007 film), 2007 American film * ''Live'' (2014 film), a 2014 Japanese film *'' ''Live'' (Apocalyptica DVD) Music *Live (band), American alternative rock band * List of albums titled ''Live'' Extended plays * ''Live EP'' (Anal Cunt album) * ''Live EP'' (Breaking Benjamin EP) * ''Live'' (Roxus EP) * ''Live'' (The Smithereens EP) *''CeCe Peniston (EP Live)'' *''Ozzy Osbourne Live E.P.'', 1980 *''Live EP (Live at Fashion Rocks)'', by David Bowie * ''Live EP'' (The Jam EP) Songs * "Live" (Russian song) * "Live" (Superfly song) * "Live" (The Merry-Go-Round song) Radio *BBC Radio 5 Live *CILV-FM, branded LiVE 88.5, a radio station in Ottawa, Canada Television * ''Live'' (South Korean TV series), a 2018 South Korean television series * ''Live'' (Danish TV series) *Live! (TV channel), Italy *''Live! with Kelly'', US TV talk show Types of media *Live action (cinematography), a motion picture not produced using anim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interchange Fee
Interchange fee is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card-based transactions. Usually for sales/services transactions it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank"). In a credit card or debit card transaction, the card-issuing bank in a payment transaction deducts the interchange fee from the amount it pays the acquiring bank that handles a credit or debit card transaction for a merchant. The acquiring bank then pays the merchant the amount of the transaction minus both the interchange fee and an additional, usually smaller, fee for the acquiring bank or independent sales organization (ISO), which is often referred to as a discount rate, an add-on rate, or passthru. For cash withdrawal transactions at ATMs, however, the fees are paid by the card-issuing bank to the acquiring bank (for the maintenance of the machine). Overview These fees are set by the c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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