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Australian Payment Systems

I'm putting together a collection of posts that describe payment systems in Australia.

This is what I've done so far

  • part 1 introduces the RBA and Exchange Settlement Accounts
  • part 2 describes BECS (direct entry) and introduces 'Deferred Net Settlement'
  • part 3 is on Real Time Gross Settlement, and introduces RITS
  • part 4 is about EFTPOS transactions (aka CECS)
  • part 5 talks about how smaller institutions participate
  • part 6 is a brief overview on how these systems are regulated
  • part 7 will look at 'alternative' payment methods like paypal
  • part 8 will look at international exchanges, and the role of SWIFT and the CLS Bank

I'm not going to describe the cheque clearing system because it's boring & complex and will hopefully go away soon. 

Here's some other useful resources in understanding payment systems:

 

Posted by Jonno Downes on March 1, 2006 02:18 PM |

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» Australian Payment Systems pt 4 - EFTPOS / CECS from jamtronix
This is part 4 of a series on Australian payment systems. This post describes the Australian EFTPOS system, also known as CECS. The one infrastructure is used to process both credit cards and debit cards. [1] First we'll start with... [Read More]

Tracked on March 3, 2006 11:24 AM

» aust payment systems pt 5 - aggregators from jamtronix
So far in this series on Australian Payment Systems I've talked about 3 payment systems - BECS (for transferring money between 2 australian bank accounts), EFTPOS (aka CECS) for debit & credit card processing, and RITS (used to perform 'high... [Read More]

Tracked on March 3, 2006 08:54 PM

» more predictions on payments from jamtronix
I've been thinking and writing about australian payment systems for a while now, because I'm a geek, so I'm interested in systems, and I'm a father-to-be, so I'm interested in money. So yesterday, when Cameron Reilly suggested PayPal was a... [Read More]

Tracked on March 17, 2006 01:04 PM

» more predictions on payments from jamtronix
I've been thinking and writing about australian payment systems for a while now, because I'm a geek, so I'm interested in systems, and I'm a father-to-be, so I'm interested in money. So yesterday, when Cameron Reilly suggested PayPal was a... [Read More]

Tracked on March 17, 2006 02:23 PM

» More on BSB's from jamtronix
Ever since I started posting about Australian Payment Systems, I've been getting lots of hits on the site from people searching for a list of BSB numbers.This list can be purchased, but lots of people are searching for a free... [Read More]

Tracked on July 9, 2006 09:06 PM

Comments

The link to part 4 there seems to be broken.

It's currently to http://www.secretgeek.net/jloo.asp, but seems like ti should be to http://blog.jamtronix.com/2006/03/australian_payment_systems_pt_1.html

Posted by: Matthew Sheppard | March 4, 2006 01:12 PM

Whoops! thanks for spotting that, should be fixed now.

Posted by: Jonno Downes | March 4, 2006 01:48 PM

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