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It uses the Triple DES cryptographic system, which is standard in financial cards and has been approved in New Zealand as a secure mechanism for connection through to the EFTPOS network. The Snapper system is an adaptation of the T-money system used in South Korea. [29] [30]
The second is operated by EFTPOS New Zealand, which is fully owned by VeriFone Systems, following its sale by ANZ New Zealand in December 2012. [34] 1995 was the first deployment of cellular Eftpos in NZ, by Dynamic Data Systems. [35] [36]
Most mobile operators such as taxis, stall holders and pizza deliverers have mobile EFTPOS systems. The system is made up of two primary networks: EFTPOS NZ, which is owned by VeriFone [72] and Worldline NZ, which is owned by ANZ Bank New Zealand, ASB Bank, Westpac and the Bank of New Zealand. [73]
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EFTPOS New Zealand Limited [62] New Zealand $70M Provides computer terminals and online payment gateway December 2012 Sektor Group United Arab Emirates $8.2M Provides EFT-POS systems March 2012 Lift Retail Marketing [63] USA n.a. Provides digital marketing systems November 2011 Point International AB [64] Sweden $818M
Electronic funds transfer at point of sale (EFTPOS) are transfers resulting from credit or debit card transactions initiated through a payment terminal; Web/Internet Online Payments (E-commerce payment system) Wire transfer via an international banking network such as Society for Worldwide Interbank Financial Telecommunication (SWIFT) Real-time ...
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