Premium
Competitive Aspects of Electronic Funds Transfer Systems: The Emerging Pattern of Point‐of‐Sale Networks
Author(s) -
Williams Philip L.
Publication year - 1987
Publication title -
australian economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.308
H-Index - 29
eISSN - 1467-8462
pISSN - 0004-9018
DOI - 10.1111/j.1467-8462.1987.tb00655.x
Subject(s) - intermediary , principal (computer security) , business , electronic funds transfer , point (geometry) , financial intermediary , investment (military) , finance , point of sale , financial system , commerce , politics , computer science , computer security , geometry , mathematics , political science , law , payment , world wide web
A system for transferring funds electronically at the point of sale is a substitute for other means by which funds can be transferred. The gateways in the EFT‐POS system being implemented by the principal Australian banks appear to deny full participation to other financial intermediaries. But the gateways may be needed if those responsible for the innovations are to secure an adequate return on their investment. Current bargaining among retailers, financial intermediaries and Telecom will determine the extent of the return which will accrue to the principal banks.