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Electronic funds transfer at point of sale 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.
A smart card, chip card, or integrated circuit card is a physical electronic authorization device, used to control access to a resource. It is typically a plastic credit card-sized card with an embedded integrated circuit (IC) chip. Many smart cards include a pattern of metal contacts to electrically connect to the internal chip. Others are contactless, and some are both. Smart cards can provide personal identification, authentication, data storage, and application processing. Applications include identification, financial, mobile phones (SIM), public transit, computer security, schools, and healthcare. Smart cards may provide strong security authentication for single sign-on (SSO) within organizations. Numerous nations have deployed smart cards throughout their populations.
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial users, for which it charges a fee.
Visa Inc. is an American multinational financial services corporation headquartered in Foster City, California, United States. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards. Visa is one of the world's most valuable companies.
MBNA Corporation was a bank holding company and parent company of wholly owned subsidiary MBNA America Bank, N.A., headquartered in Wilmington, Delaware, prior to being acquired by Bank of America in 2006.
Mastercard Inc. is an American multinational financial services corporation headquartered in the Mastercard International Global Headquarters in Purchase, New York. The Global Operations Headquarters is located in O'Fallon, Missouri, a municipality of St. Charles County, Missouri. 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 Worldwide has been a publicly traded company since 2006. Prior to its initial public offering, Mastercard Worldwide was a cooperative owned by the more than 25,000 financial institutions that issue its branded cards.
Discover is a credit card brand issued primarily in the United States. It was introduced by Sears in 1985. When launched, Discover did not charge an annual fee and offered a higher-than-normal credit limit, features that were disruptive to the existing credit card industry. A subsequent innovation was "Cashback Bonus" on purchases.
Infineon Technologies AG is a German semiconductor manufacturer founded in 1999, when the semiconductor operations of the former parent company Siemens AG were spun off. Infineon has about 50,280 employees and is one of the ten largest semiconductor manufacturers worldwide. In fiscal year 2020, the company achieved sales of €8.6 billion. Infineon bought Cypress in April 2020.
Verifone is an American multinational corporation headquartered in Coral Springs, Florida, that provides technology for electronic payment transactions and value-added services at the point-of-sale. Verifone sells merchant-operated, consumer-facing and self-service payment systems to the financial, retail, hospitality, petroleum, government and healthcare industries. The company's products consist of POS electronic payment devices that run its own operating systems, security and encryption software, and certified payment software, and that are designed for both consumer-facing and unattended environments.
First Data Corporation is a financial services company headquartered in Atlanta, Georgia, United States. The company's STAR Network provided nationwide domestic debit acceptance at more than 2 million retail POS, ATM, and Online outlets for nearly a third of all U.S. debit cards.
Contactless payment systems are credit cards and debit cards, key fobs, smart cards, or other devices, including smartphones and other mobile devices, that use radio-frequency identification (RFID) or near-field communication for making secure payments. The embedded integrated circuit chip and antenna enable consumers to wave their card, fob, or handheld device over a reader at the point of sale terminal. Contactless payments are made in close physical proximity, unlike other types of mobile payments which use broad-area cellular or WiFi networks and do not involve close physical proximity.
A controlled payment number, disposable credit card or virtual credit card is an alias for a credit card number, with a limited number of transactions, and an expiration date between two and twelve months from the issue date. This "alias" number is indistinguishable from an ordinary credit card number, and the user's actual credit card number is never revealed to the merchant.
Adyen is a Dutch payment company that allows businesses to accept e-commerce, mobile, and point-of-sale payments. It is listed on the stock exchange Euronext.
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt. The card issuer creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. There are two credit card groups: consumer credit cards and business credit cards. Most cards are plastic, but some are metal cards, and a few gemstone-encrusted metal cards.
Atom TechnologiesLimited is a payment services provider company, headquartered in Mumbai, India. Atom was started in 2006 as a subsidiary of the Financial Technologies Group, founded by Jignesh Shah.
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, was the largest U.S. merchant acquirer ranked by general-purpose transaction volume.
Stripe, Inc. is an Irish-American financial services and software as a service (SaaS) company dual-headquartered in San Francisco, United States and Dublin, Ireland. The company primarily offers payment processing software and application programming interfaces (APIs) for e-commerce websites and mobile applications.
Zettle by PayPal is a Swedish financial technology company founded by Jacob de Geer and Magnus Nilsson in April 2010, and was acquired by PayPal in 2021. Launching its first app and service in 2011, the company offers a range of financial products including payments, point of sales, funding and partners applications.
Paysafe Limited is a multinational online payments company. The group offers services both under the Paysafe brand and subsidiary brands that have become part of the group through several mergers and acquisitions, most notably Neteller, Skrill, Paysafecash and paysafecard.
Global Payments Inc. is an American company that provides payment technology and services to merchants, issuers and consumers. The company processes payments made through credit cards, debit cards and digital and contactless payments.
References
- ↑ "Orbiscom raises $17.5m funding". Independent.ie. Retrieved 21 December 2018.
- ↑ silicon (3 April 2003). "Orbiscom in credit card payments pact with HP - Enterprise | siliconrepublic.com - Ireland's Technology News Service". Silicon Republic. Retrieved 21 December 2018.
- ↑ Collins, John. "MasterCard pays $100m to acquire Irish-based Orbiscom". The Irish Times. Retrieved 21 December 2018.
- ↑ Arnold, Martin (5 January 2009). "MasterCard acquires Orbiscom". Financial Times. Retrieved 21 December 2018.
- ↑ "UPDATE 2-MasterCard acquires software provider Orbiscom". Reuters. 5 January 2009. Retrieved 21 December 2018.