Advertisement

Automating Clearing and Settlement: BASE II and III

  • David L. StearnsEmail author
Chapter
  • 1k Downloads
Part of the History of Computing book series (HC)

Abstract

This chapter describes how NBI solved the other half of their operational problems: clearing and settlement. It describes the creation of BASE II in 1974, the first electronic clearinghouse for bank-issued payment cards. It also covers the failed attempt to create a software package for the member banks, known as BASE III.

Keywords

Optical Character Recognition Edit Package Counter Space Stanford Research Institute American Banker 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

References

  1. Brooke, P.: In past year, EFTS concepts shift from theory to action. American Banker, p. 13 (4 June 1973) Google Scholar
  2. Brooke, P.: NBI hires Centurex to design software system for member banks. American Banker, p. 1 (1 August 1973) Google Scholar
  3. Brooke, P.: BankAmericard begins electronic interchange of drafts. American Banker, p. 1 (6 November 1974) Google Scholar
  4. Cleveland, T.: The Visa history: Tom Cleveland’s perspective. Unpublished compilation of personal stories by Tom Cleveland, former CFO of Visa International (April 1999) Google Scholar
  5. The Consumer Credit Protection Act Ammendments of 1977. Hearings on HR 8753 before the Subcommittee on Consumer Affairs of the Committee on Banking, Finance, and Urban Affairs, United States House of Representatives, 95th Congress, First Session (March 1977) Google Scholar
  6. Hock, D.: One from Many: Visa and the Rise of Chaordic Organization. Berrett-Koehler, San Francisco (2005). 2nd edn. of Birth of the Chaordic Age Google Scholar
  7. Hock, D.: Electronic funds transfer or electronic value exchange? Paper presented at the Federal Reserve Bank of Boston Conference, Melvin Village, New Hampshire (October 1974) Google Scholar
  8. Jutilla, D.: Fundamentals of Bank Credit Cards. American Institute of Banking, Tacoma Chapter, Tacoma (1973) Google Scholar
  9. Law, J.: Technology and heterogeneous engineering: the case of Portuguese expansion. In: Bijker, W.E., Hughes, T.P., Pinch, T. (eds.) The Social Construction of Technological Systems: New Directions in the Sociology and History of Technology, pp. 111–134. MIT Press, Cambridge (1987) Google Scholar
  10. Magnis, N.E.: Descriptive billing—a solution to the paperwork problem. ABA Banking Journal 62(10) (1970) Google Scholar
  11. NBI buys Centurex on-line card system. American Banker, p. 5 (2 January 1974) Google Scholar
  12. NBI finds no major problems with facsimile drafts. American Banker, p. 81 (10 October 1973) Google Scholar
  13. NBI planning paperless card drafts. American Banker, p. 1 (18 December 1973) Google Scholar
  14. Nilson, S.: The Nilson Report. HSN Consultants, Oxnard (1970 to present). A twice-monthly newsletter on the payment card industry Google Scholar
  15. Wade, W.: President to Sign Check 21 Today. American Banker, p. 23 (28 October 2003) Google Scholar

Copyright information

© Springer-Verlag London Limited 2011

Authors and Affiliations

  1. 1.Seattle Pacific UniversitySeattleUSA

Personalised recommendations