Eftpos aims to have the QR code payments network in a trial by mid-year
Eftpos, an Australian debit card system, has announced the launch of a national QR code payments network. It aims to provide Australian consumers and merchants with better payment experiences while shopping online, on their mobile, or at the checkout.
According to information, the national rollout is expected to be completed in 2022.
Eftpos CEO Stephen Benton said the decision to roll out the national Eftpos QR code payments network comes at a time when Australians are becoming familiar with QR code technology through daily interactions with COVID-19 check-ins and increasingly turning to digital shopping.
Mr. Benton said the rollout was about re-imagining the Australian payment experience, while businesses are looking to new digital innovations to improve efficiency and create better customer experiences.
He added that the technology allows merchants to grow their digital sales with low-cost QR acceptance using enriched data and integrated customer loyalty services, by leveraging Eftpos’ Australian-owned network infrastructure.
It works by generating unique QR codes containing transaction details that are captured on a consumer’s mobile phone, initiating a digital wallet payment that is integrated with the merchant’s loyalty service provider.
We’ve reported that Stripe partnered with Australian fintech.