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Interbank Networks
An interbank network, also known as an ATM consortium or ATM network, is a computer networking, 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 automated teller machine, 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 (interbank network), Plus or Cirrus (interbank network), C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computer Networking
A computer network is a collection of communicating computers and other devices, such as printers and smart phones. In order to communicate, the computers and devices must be connected by wired media like copper cables, optical fibers, or by wireless communication. The devices may be connected in a variety of network topologies. In order to communicate over the network, computers use agreed-on rules, called communication protocols, over whatever medium is used. The computer network can include personal computers, Server (computing), servers, networking hardware, or other specialized or general-purpose Host (network), hosts. They are identified by network addresses and may have hostnames. Hostnames serve as memorable labels for the nodes and are rarely changed after initial assignment. Network addresses serve for locating and identifying the nodes by communication protocols such as the Internet Protocol. Computer networks may be classified by many criteria, including the tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
T2 (settlement System)
T2 is a financial market infrastructure that provides real-time gross settlement (RTGS) of payments, mostly in euros. It is operated by the European Central Bank and is the critical payments infrastructure of the euro area. With turnover in the trillions of euros every day, it is one of the largest payment systems in the world. It is one of three so-called TARGET Services, together with TARGET2-Securities (T2S) for securities and TARGET Instant Payment Settlement (TIPS) for fast payments. The acronym TARGET stands for Trans-European Automated Real-time Gross-Settlement Express Transfer. T2 replaced its predecessor RTGS system, TARGET2 (itself introduced in 2007-2008), on . Overview Like other RTGS systems, T2 allows individual banks to submit payment orders and have them settled in central bank money, namely the euro. T2 settles payments between banks as well as those related to the Eurosystem's own operations. Member banks can connect to T2 either via SWIFT or via NEXI-Colt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BankservAfrica
BankservAfrica is an automated clearing house located in Johannesburg, South Africa, serving both national and pan-African transactions. It annually processes a significant volume of transactions, encompassing various sectors such as banking, corporates, government, and retail. Its role as Africa's largest automated payments clearing house is primarily attributed to its substantial transaction volume. History The establishment of BankservAfrica originated from the need to unify shared services within the South African banking industry. Prior to its formation in 1972 as the Automated Clearing Bureau (Pty) Limited, various industry-owned companies operated independently in different payment channels. The transformation aimed to streamline operations, leading to the eventual rebranding as BankservAfrica in 2010. Shareholders BankservAfrica is entirely owned by South African commercial banks, with the following shareholders: * Absa Group Limited, Absa Bank Limited (23.125%) * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BOJ-NET
The is the central bank of Japan. Nussbaum, Louis Frédéric. (2005). "Nihon Ginkō" in The bank is often called for short. It is headquartered in Nihonbashi, Chūō, Tokyo. The said bank is a corporate entity independent of the Japanese government, and while it is not an administrative organisation of the state, its monetary policy falls within the scope of administration. From a macroeconomic perspective, long-term stability of prices is deemed crucial. However, the political sector tends to favour short-term measures. Thus, the bank's autonomy and independence are granted from the standpoint of ensuring long-term public welfare and political neutrality. History Background Like most modern Japanese institutions, the Bank of Japan was founded after the Meiji Restoration. Prior to the Restoration, Japan's feudal fiefs all issued their own money, ''hansatsu'', in an array of incompatible denominations, but the ''New Currency Act'' of Meiji 4 (1871) did away with these an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yucho (interbank Network)
is an interbank network in Japan, owned and operated by the postal savings division of Japan Post Bank. It counts some 26,519 ATMs, of which 23,500 are at post offices and 2,869 are away from post offices. The number of ATMs correspond to about one for every post office in Japan, excluding a few post offices that are too small to support ATMs. It is one of the first interbank networks, having been set up in 1979. Some 130 banks in Japan have access to the Yucho network and vice versa. However, rather than being members of Yucho, they are affiliates of the network. The network was set up primarily for Japan Post's postal finance systems, which include its savings accounts. Yucho ATMs are also linked internationally to the Cirrus, China UnionPay and PLUS interbank networks, and also accept Visa, MasterCard, American Express, Diners Club, Japan Credit Bureau and China UnionPay credit cards through those networks. Yucho ATMs are categorized into two kinds: actual ATMs, whi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interswitch
Interswitch is a leading African integrated payments and digital commerce platform company headquartered in Lagos. Founded in 2002 in Nigeria, as a transaction switching and processing company with national focus, Interswitch progressively evolved to incorporate consumer financial services with the successive launches of Quickteller, a retail payments ecosystem linking merchants and billers with consumers, as well as Verve, a homegrown, EMV-certified payments card scheme. History After using an ATM for the first time in Scotland, Mitchell Elegbe developed an idea to create electronic payment infrastructure in Nigeria while he was working on implementing SWIFT. Working at Telnet, his boss approved the transaction switch. However most players he sold to were not interested in the software for switching; this led him to creating Interswitch so as to meet his targets. With the assistance of Accenture, Elegbe and his team established the company, of which he then became CEO. In 2010 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payment And Settlement Systems In India
A payment is the tender of something of value, such as money or its equivalent, 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 or philanthropy desire. The party making the payment is commonly called the payer, while the payee is the party receiving the payment. Whilst payments are often made voluntarily, some payments are compulsory, such as payment of a fine. Payments can be effected in a number of ways, for example: * the use of money, whether through cash, cheque, mobile payment or bank transfers. * 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 affected in the local currency of the payee unless the par ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of India
Reserve Bank of India, abbreviated as RBI, is the central bank of the Republic of India, and regulatory body responsible for regulation of the Indian banking system and Indian rupee, Indian currency. Owned by the Ministry of Finance (India), Ministry of Finance, Government of India, Government of the Republic of India, it is responsible for the control, issue, and maintenance of the supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. The RBI, along with the Indian Banks' Association, established the National Payments Corporation of India to promote and regulate the payment and settlement systems in India. Bharatiya Reserve Bank Note Mudran, Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Mysore (Karnataka; Southern India) and Salboni (West Bengal; Eastern India). Depos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
RuPay
RuPay (portmanteau of Rupee and Payment) is an Indian multinational financial services and payment service system, conceived and owned by the National Payments Corporation of India (NPCI). It was launched in 2012, to fulfil the Reserve Bank of India's (RBI) vision of establishing a domestic, open and multilateral system of payments. RuPay facilitates electronic payments at almost all Indian banks and financial institutions. NPCI has partnered with Discover Financial and JCB to help the RuPay network gain international acceptance. As of November 2020, around 753 million RuPay cards have been issued by nearly 1,158 banks. All merchant discount rate (MDR) charges were eliminated for transactions done using Rupay debit cards from 1 January 2020. All Indian companies with an annual turnover exceeding are required to offer RuPay debit card and Unified Payments Interface as a payment option to their customers. Background In 2009, RBI asked the Indian Banks' Association to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CashTree
CashTree is an interbank network in India founded by five public sector banks, Syndicate Bank, Bank of India, Indian Bank, United Bank of India and Union Bank of India, for sharing their automated teller machine (ATM) networks. The network was founded in 2003, with Dena Bank later joining the network. Members *Bank of India *Dena Bank *Indian Bank *Syndicate Bank * United Bank of India *Union Bank of India Union Bank of India (UBI) is an Indian public sector bank headquartered in Mumbai. It has 153+ million customers and a total business of Rs.22,92,644 crores as of 31 March 2025. After the merging with Corporation Bank and Andhra Bank, which c ... Competitors * Cashnet * MITR * BANCS References Interbank networks in India {{india-company-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cashnet
Cashnet is an interbank network in India managed by Euronet Services India Pvt. Ltd. which is a subsidiary of Euronet Worldwide. Banks can join the Cashnet shared ATM network whereby each member banks' cardholders can perform transactions at other member banks' ATMs. Member banks will allow their customers to perform transactions at other member banks ATMs ("Issuing Bank") and allow other member banks' cardholders to perform transactions at their ATMs ("Acquiring Bank"). All member banks are expected to be both Issuing Banks and Acquiring Banks. Euronet India provides the central switching and processing centre for the shared ATM network by establishing a host-to-host connection to each member bank, facilitating daily settlement between each participant and providing settlement reports. Switching and gateway services to international card organisations such as Visa, MasterCard, Amex and Diners Club will be provided. History The Reserve Bank of India (RBI) has granted the fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks ATM Network And Customer Services
Banks ATM Network and Customer Services (BANCS) is an interbank network in India. It was launched on 25 February 2004, with 13 member banks. It is managed by an advisory board consisting of member banks. It is successor to the now-defunct Swadhan ATM network. After the cyber attack by Wannacry several ATM were shut down in Kerala in May 2017 Member banks # Bank of Maharashtra # Bank of Bahrain and Kuwait Greater Bombay Co-op Bank# Centurion Bank # Central Bank of India # UTI Bank # Punjab & Sind Bank # IDBI Bank Ltd # RBL Bank # # Cosmos Bank Air Corporation Employees Co-op Bank# Saraswat Bank Technology BANCS is supported by the India Switch Company (ISC), acquired by eFunds in 2005, which in turn, was acquired by Fidelity National Information Services. ISC supports BANCS through a mix of VSATs, ISDN, leased lines, CDMA and GPRS. The financial switches used in the system are provided by Oasis Technology Ltd., Mumbai. The software used is from IBM, Solaris and Ora ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
