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 of the 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. These are similar to a credit card, but unlike a credit card, 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.
Mastercard Inc. is the second-largest payment-processing corporation worldwide. It offers a range of payment transaction processing and other related-payment services. Its headquarters are in Purchase, New York. Throughout the world, its principal business is to process payments between the banks of merchants and the card-issuing banks or credit unions of the purchasers who use the Mastercard-brand debit, credit and prepaid cards to make purchases. Mastercard has been publicly traded since 2006.
Canadian Western Bank, also operating as CWB Financial Group, is a Canadian bank based in Edmonton, Alberta. The bank serves clients both in Western Canada and in other provinces.
Visa Plus is a worldwide interbank network that provides cash to Visa cardholders. As a subsidiary of Visa Inc., it connects all Visa credit, debit and prepaid cards, as well as ATM cards issued by various banks worldwide bearing the Visa / Electron logo.
Visa Electron is a debit card product that uses the Visa payment system. It is offered by issuing banks in every country with the exception of Canada, Australia, Argentina, Ireland and the United States. The difference between Visa Electron and Visa Debit, a similar product, is that payments with Visa Electron always require on-line electronic authorisation, and typically require that all the funds be available at the time of transfer, i.e., Visa Electron card accounts may not normally be overdrawn. Most Visa Debit cards, on the other hand, may be processed offline, without online authorisation, and may allow transfers exceeding available funds up to a certain limit. For that reason, Visa Electron cards are more commonly issued to younger customers or customers that have poor credit. Some online stores and all offline terminals do not support Visa Electron because their systems cannot check for the availability of funds. In addition to point of sale debit payments, the card also allows the holder to withdraw cash from automated teller machines (ATMs) using the Plus interbank network.
Visa Debit is a major brand of debit card issued by Visa in many countries around the world. Numerous banks and financial institutions issue Visa Debit cards to their customers for access to their bank accounts. In many countries the Visa Debit functionality is often incorporated on the same plastic card that allows access to ATM and any domestic networks like EFTPOS or Interac.
Expressnet is an interbank network connecting the ATM networks of seven major banks in the Philippines. It has the second-largest number of ATMs and the smallest number of customers and member banks. However, its strength among the interbank networks and the ubiquity of BPI ATMs have given birth to the Expressnet motto: "The Powerful Connection".
BancNet is a Philippine-based interbank network connecting the ATM networks of local and offshore banks, and the country's single interbank network in the Philippines in terms of the number of member banks and annual transactions. Due to its status as the country's single ATM switch operator, it is designated by the Bangko Sentral ng Pilipinas (BSP) as the country's national ATM network.
MegaLink is a Philippine-based developer of mobile and banking software as well as a service provider for banks, specifically for automatic teller machine networks and point of sale systems of banks in the country. From its establishment in 1989 until 2015, it pioneered the interconnectivity of several banks in the country by way of being the first interbank network with different banks as its members.
Seven Bank, Ltd. is a Japanese bank. It is a subsidiary of Seven & I Holdings Co., Ltd.. Until October 11, 2005, it was IY Bank, taking its initials from Ito Yokado. Conducting its business primarily through the Internet, IY Bank has automatic teller machines in 7-Eleven convenience stores and Ito Yokado general-merchandise stores in Japan, and on April 27, 2005, opened its first branch with live staff. Customers with accounts at certain banks can process transactions at IY terminals at no cost; IY collects a handling fee from customers at other banks.
An ATM card is a dedicated payment card card issued by a financial institution which enables a customer to access their financial accounts via its and others' automated teller machines (ATMs) and, in some countries, to make approved point of purchase retail transactions. ATM cards are not credit cards or debit cards, however most credit and debit cards can also act as ATM cards and that is the most common way that banks issue cards since the 2010s.
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.
ATM usage fees are the fees that many banks and interbank networks charge for the use of their automated teller machines (ATMs). In some cases, these fees are assessed solely for non-members of the bank; in other cases, they apply to all users. There is usually a higher fee for use of White-label ATMs rather than bank owned ATMs.
Otto. is Finland's interbank network, connecting the ATMs of nearly every bank in the country. It is owned and operated by Automatia. They offer service in Finnish and Swedish, but also in English to holders of international ATM cards. The word "Otto" means "withdrawal" in Finnish, and is also a relatively common given name. The withdrawal points use machines from two different equipment manufacturers: NCR's Scottish subsidiary and German Wincor Nixdorf. The software and the new chip card readers have been supplied by Fujitsu Finland, and the information system is in charge of Tieto-Evry.
Eurocard was a credit card, introduced in 1964 by Marcus Wallenberg Jr. of the Wallenberg family as an alternative to American Express. In 1968, it signed a deal with the Interbank Card Association so that their cards were accepted by each other's networks; this eventually led to a joint venture known as Maestro International in 1992, and merger in 2002.
EUFISERV is a European interbank network connecting the ATMs of savings banks in Austria, Belgium, the Czech Republic, Finland, France, Germany, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, and Switzerland. It is the largest and the only international credit union-owned interbank network in Europe.
girocard is an interbank network and debit card service connecting virtually all German ATMs and banks. It is based on standards and agreements developed by the German Banking Industry Committee.
Debit Mastercard is a brand of debit cards provided by Mastercard. They use the same systems as standard Mastercard credit cards but they do not use a line of credit to the customer, instead relying on funds that the customer has in their bank account.
Worldpay, Inc. was an American payment processing company and technology provider. In June 2019 it was acquired and merged into Fidelity National Information Services (FIS). Before its acquisition, it was headquartered in the greater Cincinnati, Ohio area. Worldpay, Inc., was the largest U.S. merchant acquirer ranked by general-purpose transaction volume.
The ATH/A Toda Hora S.A. Network is an interbank network connecting the ATMs of various financial institutions in Colombia.
