Eftpos gears up to pilot QR code payments system in 2021
QR code is one of five technology focus areas for the debit card payments company over the next two years.
December 16, 2020 22:00 GMT (14:00 PST) | Topic: Innovation
Eftpos has announced that it is working with merchants to deliver a national QR code payment system, which is slated to be delivered initially as a pilot in 2021.
Eftpos foresees QR code payments will be used on almost all mobile devices and offer both consumers and merchants more benefits because of the data-rich format, while also providing lower costs and deeper customer engagement for Eftpos members .
Eftpos and BPAY merge to become New Payments Platform Australia Watch Now
New Payments Platform Australia (NPPA), the company charged with the oversight of all of the transactions moving through Australia s updated payments system, alongside Eftpos and BPAY, have announced plans to amalgamate.
The group of domestic payment organisations said the new company would create a stronger, unified entity that will aim to reduce costs, increase innovation and efficiency, and be better able to compete with the growing scale of overseas multinational payment platforms . In Australia, international card schemes and multinational technology providers are dominating the payments sector, the companies said in a statement. Change is needed to ensure that the Australian payments system supports the best interests of consumers and businesses, through increased choice and competition.