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Money Access Center (MAC, also Money Access Card) was an ATM network in the Mid-Atlantic and Midwestern United States, between 1979 and 2005, when it was absorbed into the STAR network. The network was one of the first in the nation, and helped universalize ATM banking.
Electronic bill payment is a feature of online, mobile and telephone banking, similar in its effect to a giro, allowing a customer of a financial institution to transfer money from their transaction or credit card account to a creditor or vendor such as a public utility, department store or an individual to be credited against a specific account.
A direct deposit (or direct credit), in banking, is a deposit of money by a payer directly into a payee's bank account.Direct deposits are most commonly made by businesses in the payment of salaries and wages and for the payment of suppliers' accounts, but the facility can be used for payments for any purpose, such as payment of bills, taxes, and other government charges.
The term electronic payment refers to a payment made from one bank account to another using electronic methods and forgoing the direct intervention of bank employees. Narrowly defined electronic payment refers to e-commerce —a payment for buying and selling goods or services offered through the Internet, or broadly to any type of electronic ...
The largest global card payment organizations are: UnionPay, Visa, Mastercard and American Express. [2] It can also be a smart card that contains a unique card number and some security information such as an expiration date or with a magnetic strip on the back enabling various machines to read and access information. [3]
EFT transactions are known by a number of names across countries and different payment systems. For example, in the United States , they may be referred to as "electronic checks " or "e-checks". In the United Kingdom , the term " BACS Payment", "bank transfer" and "bank payment" are used, in Canada , " e-Transfer " is used, while in several ...
This case is formally known as In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. The docket number is 05-md-01720. The United States District Court in the Eastern District of New York in Brooklyn is the venue. [9]
The Farm Security and Rural Investment Act of 2002 further broadened the application of EBT by allowing group homes and institutions to directly redeem benefits electronically. By 2004, all U.S. states, territories, and the District of Columbia had implemented statewide EBT systems for administering SNAP benefits (the successor to the FSP).