DataCash Launches Internet Direct Debit Service.DataCash, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of AIM listed Auxinet plc., and the UK's leading processor of Internet credit and debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. transactions, today announced the launch of its Direct Debit direct debit Noun an order given to a bank or other financial institution by an account holder to pay an amount of money from the account to a specified person or company at regular intervals direct debit n processing service. The Direct Debit service addresses strong demand from retailers, utilities, local and central government to be able to process direct debits and direct credits via the Internet, call centres, m-commerce and interactive Digital TV. DataCash's service automates the Direct Debit set-up, maintenance, collection and reconciliation processes. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. BACS BACS Bankers Automated Clearing System BACS Banks Automated Clearing System BACS British Association for Canadian Studies BACS British Association for Chemical Specialities BACS Bachelor of Arts Community Studies BACS Bachelor of Administrative and Commercial Studies , over the last ten years direct debit has become the most popular method for paying regular bills compared to cheques (45%), cash (35%), credit cards (14%) and debit cards (18%). Almost 32 million people in the UK now use direct debit to pay an average of six bills this way. The greatest users of direct debit are working ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. 1 adults, aged 25-44 whose demographics closely match those of Internet users. "BACS are delighted to have approved DataCash as an accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. BACS Bureau. We believe the Internet has real potential in offering Direct Debits and Credits as a payment method", says Anne-Marie Kesselman, BACS Communications Manager. Gavin Breeze, Business Development Director at DataCash says, "DataCash already process more internet-driven credit card transactions than anyone in the UK. By adding Direct Debit to our portfolio of payment services, DataCash now provides retailers, utilities and government organisations with total enterprise-wide payment solutions through one easy-to-install API." Full details of DataCash's services can be found at http://www.datacash.com Auxinet 90 Longacre London WC2E 9RZ UNITED KINGDOM Tel: 08707274761 E-mail: gavin@datacash.com (c) Mondaq Ltd, 2002 - Tel. +44 (0)20 7820 7733 - http://www.mondaq.com |
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