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Consumer Electronic Clearing System

Consumer Electronic Clearing System

The Consumer Electronic Clearing System (CECS) covers all electronic consumer payments, such as EFTPOS (Debit Card) payments and mobile payments.

Payments NZ sets the CECS rules and standards for the processing of EFTPOS payments and mobile payments, and the operation of ATMs. As innovation continues in the consumer electronic payments space, new payment instruments will also be processed through CECS.

CECS transactions are settled and interchanged in SBI, via BECS. This means Participants in CECS are either also BECS Participants, or they have a BECS Participant who acts as their agent for processing transactions.

A standard CECS transaction involves a number of parties, including:

  • The Cardholder – the customer whose card is being used to make the payment in the transaction.
  • The Issuer – the financial institution that issues the card to the Cardholder.
  • The Merchant – the business or person with the EFTPOS machine who accepts the payment.
  • The Acquirer – the financial institution that has the business banking relationship with the Merchant.
  • The Switch Operator – the provider of the infrastructure (the ‘switch’ ) for sending messages between the various parties in the transaction (for CECS transactions, the switch operators are Paymark Limited and EFTPOS New Zealand Limited).
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