EDC (Banking Agent)
Cash withdrawal service via Banking Agent’s EDC machines
Service features
Banking Agent cash withdrawal service via EDC machines is an extension of the ITMX Single Payment System that allows for cash withdrawals via EDC Terminal in addition to ATM Terminal. Customers can withdraw cash from EDC machines operated by non-bank service providers acting as banking agents for acquirer banks in ITMX's Single Payment System. Acquirer Banks will enter into a business agreement with the Banking Agent and send withdrawal commands to ITMX's systems via the Banking Agent's network EDC before passing them to the Issuer Bank for approval of cash withdrawal transactions, in the same way as how ATM withdrawal transaction Similarly, Acquirer Banks are liable for any risks posed by Banking Agents, including the risk of interbank settlement. The company will act as Switching in the operation of ITMX's Single Payment System, processing online withdrawal transactions with debit cards of member banks that sign up for the EDC cash withdrawal service (Banking Agent). By providing EDC machines as an additional terminal to ATMs, the company will serve as Switching in ITMX's Single Payment System, allowing online processing of cash withdrawal transactions made by debit cards from EDC service member banks. The EDC withdrawal service (Banking Agent) provides a less expensive alternative to installing ATMs for member banks. Investing in ATM machines can be expensive for member banks, especially if the bank branches or financial institutions are located far away from the more expensive ATM installation, maintenance, and cash delivery. This service will be a more cost-effective solution for member banks to provide withdrawal services to their customers.
Financial Institutions
Qualifications of the applicant
1) The applicant must be either a commercial bank licensed to conduct commercial banking under the Financial Institutions Business Act B.E. 2551 (2008) or a bank established under specific legislation.
2) The applicant must be a business provider of the designated payment services under the Payment Systems Act B.E. 2560. (2017).
Revocation of Membership
1) The bank's license to operate commercial banking under the Financial Institutions Business Act B.E. 2551 (2008) has been revoked, or the bank has been disqualified as a bank established under specific legislation.
2) The business provider's license to operate a designated payment service under the Payment Systems Act B.E. 2560. (2017) has been revoked.
The customer of the Single Payment System member bank can access the system's services based on the products in which that bank has memberships. For example:
- Interbank cash withdrawal and/or balance inquiry via ATMs
- Interbank transfer via ATMs
- Interbank transfer via bank counters in any branch
- Cash withdrawals from ATMs in foreign countries, etc.
The customer can contact the bank of service directly for more information.
of Service
Benefits
Qualifications of the applicant
The member bank can save on investment costs, e.g., ATM machine ownership costs or branch expansion costs, including the cost of hiring customer service personnel. Otherwise, bank members can use ATMs or bank counters of other member banks, and connect to international service networks.
The member bank customer can make transactions through various channels. For example, ATMs of other banks or foreign countries, bank counters of other banks, online services, mobile banking, etc.
The company is aware of the highest security for information transmitted via the electronic media of the Single Payment System. We ensure the highest security by prioritizing the use of the most advanced security technology, including data encryption throughout the connection. Additionally, we incorporate private network devices between the company and member banks that control the connection devices using the Security Key system.
The company focuses on providing the most advanced security for the advancement of the national transfer/payment system to meet international standards. Furthermore, to protect users from any form of interception while ensuring the integrity of information transmitted through the system.
Security
