Australia - E-commerce - Financial Services - Payment and Security

Synopsis

Overviews the online transactions market in Australia in terms of monetary value and technologies used. Statistics for debit and credit card transactions and EFTPOS and ATM terminal locations are provided, and an overview of the range of electronic payment and security mechanisms is given. Smart cards are also briefly mentioned. The focus on the main methods of electronically transacting in Australia for individuals and businesses is an important background to other reports on ATMs, EFTPOS, smart cards and other e-commerce applications. .

Table of Contents

• 1. Synopsis
• 2. Introduction
  • 2.1 Access to electronic payment terminals
  • 2.2 Electronic card transactions
• 3. Major forms of electronic payment
  • 3.1 Automated Teller Machines (ATMs)
  • 3.2 Credit, debit and charge cards
    • 3.2.1 Stored value cards
  • 3.3 Direct Entry (DE)
  • 3.4 Electronic Data Interchange (EDI)
  • 3.5 Electronic Funds at Point of Sale (EFTPOS)
  • 3.6 Clearing House Electronic Sub-register System (CHESS)
  • 3.7 High Value Electronic Payments
  • 3.8 Financial Transactions Recording and Clearance System (FINTRACS)
  • 3.9 Reserve Bank Information and Transfer System (RITS)
• 4. Security
  • 4.1 MIME and S/MIME
  • 4.2 Secure Electronic Transaction (SET)
  • 4.3 Secure HTTP (S-HTTP)
  • 4.4 Secure Sockets Layer (SSL)
• 5. Related reports

• Table 1 – Points of access to payment mechanisms – 1990-2002
• Table 2 – Card transactions between merchants and banks – 1994-2002
• Table 3 – Monthly number of card transactions – 1994-2002
• Table 4 – Monthly value of card transactions – 1994-2002
• Table 5 – Customer payment accounts and cards – 1994-2002
• Table 6 – Number of Direct Entry users – 1992–2002
• Table 7 – High Value Clearing System daily value of transactions – 1998-2002

• Exhibit 1 – Electronic payment instruments in Australia