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Australian eftpos logo. In Australia, eftpos is the name of a proprietary domestic debit payment system launched in the 1980s, owned by eftpos Payments Australia Limited (ePAL) [2] (now Australian Payments Network) [3] that accepts bankcards or debit cards at POS "point of sale"" terminals, ATMs and most recently, online via eCommerce.
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 ...
Tyro was founded in 2003 by Peter Haig, Andrew Rothwell and Paul Wood as MoneySwitch Ltd. Tyro was the first new entrant into the Australian EFTPOS business since 1996. [1] It was the second company in Australia to be granted a Specialist Credit Card Institution (SCCI) licence [2] after GE Capital.
FIS Brings New eftpos Payments Hub to Australia, Cuts Cost to Innovate Key facts FIS building a payments hub to process eftpos transactions, the most widely used debit card system in Australia.
The New Payments Platform (NPP), operated by New Payments Platform Australia Ltd (NPPA) [1] is an industry-wide payments platform for Australia. It became accessible to the general public on 13 February 2018 [ 2 ] with the introduction of PayID, an addressing capability, and Osko , [ 3 ] the first NPP overlay service, operated by BPAY .
In 2014, 166.6 million cheques were used in Australia, compared to 291.1 million in 2010. [5] In 2015, cheque usage fell by a further 16.3%. Cheques and other payment instruments (such as travellers cheques and warrants) (also called CS1) are cleared and settled in accordance with the regulations and procedures set by APCS. [6]
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