Eftpos Australia says it will begin mobile payments trials with selected Australian retailers in the next few months. Eftpos – which is owned by 14 of country’s largest banks and retailers – accounts for almost 80% of debit card transactions processed at the POS in Australia.
Eftpos CEO, Bruce Mansfield, said it had signed a five-year agreement with C-SAM to provide a mobile wallet and NFC widget, to meet the needs of the Australian market. In addition to mobile payments, the technology could also enable new services such as offers, loyalty and transfer of receipts.
After almost 30 years in the market as Australias most used payment card network at the point of sale, Eftpos is now looking at new ways to pay, explains Mansfield. This agreement will enable Eftpos to move into proof of concept trials very quickly, to test various solutions for the Australian market.
We want to make sure that any new technology that we offer on mobile devices is going to provide financial institutions, retailers and consumers with secure, accessible and affordable payment solutions that they have come to expect from Eftpos.
In an effort to make mobile payments as simple, flexible and accessible as possible, the new mobile wallet and the NFC widget will be developed as white label products that could potentially be used by a number of Australian retailers or financial institutions.