14-513: STAR is an American interbank network . It is the largest interbank network in United States , with 2 million ATMs , 134 million cardholders and over 5,700 participating financial institutions . The STAR Network began in 1984 and was acquired by First Data Corporation in 2003. The network is owned and operated by STAR Networks, a subsidiary company of First Data. The network has existed since 1984, and has incorporated several others , mostly in
28-576: A number of ATM networks. Transfers between accounts is also possible by using these networks, even to an account in a different network; all one needs is the Bank code of the destination bank and the account number. There are many Electronic funds transfer interbank networks in Japan. Inter-network banking funds transfer is case-by-case. Yucho is the only network that accepts cards from worldwide networks such as Cirrus and PLUS . BancNet (also spelled Bancnet)
42-598: A shared services network. MegaLink launched the Debit Bills Payment as well as purchases via POS terminals in 1993. A year later, MegaLink introduced telephone banking . In 1995, MegaLink forged an alliance with BancNet . In 2003, MegaLink launched an Electronic Settlement with the Bangko Sentral ng Pilipinas . In 2006, the ATM Industry Association (ATMIA) signed up MegaLink as a founding member in
56-1130: Is a Philippine-based interbank network connecting the ATM networks of local and offshore banks, and the largest interbank network in the Philippines in terms of the number of member banks and annual transactions. BancNet is also the exclusive gateway of China's UnionPay, allowing access to the nearly 1 billion ATM cardholders from the People's Republic of China. BancNet is allied with global payment brand JCB International. Through this alliance, JCB cardholders can now do cash advances at participating BancNet member ATMs nationwide. Bancnet interconnects with international card networks Diners Club, Discover Card, KFTC, MasterCard, and VISA BancNet serves more than 41 million ATM cardholders of its 114 members and affiliates with over 12,000 ATMs and more than 5,000 POS terminals. In 2008, Expressnet outsourced its ATM operations to BancNet. On January 30, 2015, BancNet and MegaLink announced their merger and will retain itself as its brand. Multibanco
70-672: Is also a provider of mobile phone and Internet banking services through the TeleMultibanco and MBNet services, respectively. It is also the provider of the Via Verde electronic toll collection service. Launched under the brand name LankaPay in July 2013, the Common Card and Payment Switch (CCAPS) is the first phase of creating a more robust, efficient, and secure payment infrastructure for Sri Lanka. The Central Bank of Sri Lanka has since approved
84-594: Is the single unified interbank network in Portugal, that links the ATMs of all Portuguese banks. This network has existed since 1985 and is owned by SIBS ( Sociedade Interbancária de Serviços ). Multibanco is a fully integrated interbank network and offers many more services than those usually found in other countries' networks. Multibanco also has a full-fledged EFTPOS network, the Multibanco Automatic Payment, and
98-609: The Caribbean , the major interbank network is the ATH network. Most banks issue dual ATH and MasterCard/Visa cards, using the ATH network for ATM transactions and MasterCard/Visa for EFTPOS transactions. Some banks (such as BanReservas) issue ATH-only cards which use the ATH network for both ATM and EFTPOS transactions. In Germany Girocard interbank network provides debit card service connecting virtually all German ATMs and banks. In Indonesia, there are
112-444: The 2000s: Interbank network 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. However, the functions which may be performed at the network ATM vary. For example, special services, such as
126-514: The CCAPS as Sri Lanka's "National Payment Switch". Due to the historically fragmented nature of banking in the United States, there have been a large number of small banks, which resulted in a number of different interbank networks being established, mostly along geographic lines. These started to consolidate from the mid 1980s, resulting in three major interbank networks which, by 2003, had over 70% of
140-637: The Philippines. In 2011, MegaLink was interconnected with the Korea Financial Telecommunications and Clearings Institute (KFTC) in South Korea. MegaLink implemented a Telco-agnostic mobile banking service. In 2013, MegaLink also interconnected with National ITMX in Thailand. In late January 2015, MegaLink and BancNet announced their merger. BancNet is the sole surviving entity, while MegaLink has been repurposed. MegaLink now lists itself as
154-596: 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 or Cirrus , are widely available. Interbank networks also permit, through different means,
SECTION 10
#1733136803900168-477: The use of ATM cards at a point of sale through the use of a special EFTPOS terminal where ATM cards are treated as debit cards . The payment card industry (PCI) denotes the debit , credit , prepaid , e-purse , ATM , and POS cards and associated businesses. Major brands used by the above interbank networks list by asset value. In Brazil , the major interbank network is the Banco24Horas network. In
182-489: The volume in the United States: 2003 saw the founding of two additional interbank ATM networks: MegaLink MegaLink (also spelled as Megalink ) is a Philippine-based developer of mobile and banking software as well as a service provider for banks, specifically for Automatic Teller Machine (ATM) networks and point of sale systems for banks. It was established in 1989; it was later repurposed in 2015. MegaLink
196-520: Was formed in September 1989 by Equitable Banking Corporation (now merged with Banco de Oro ), Far East Bank and Trust Company (now part of BPI ), Philippine National Bank (currently a BancNet member), and United Coconut Planters Bank . MegaLink was launched on March 19, 1990. MegaLink was linked with both BancNet and Expressnet . In 1992, the banks of ATM Bersama , an Indonesian interbank network , turned to MegaLink's expertise as their model for
#899100