New approach to secure online and mobile digital payments

01-Feb-2014

eftpos are in the process of trialling a new, low-cost solution that will improve the way Australians are able to make payments online.

This trial holds particular significance as it will enable Australians to use eftpos services online and via smartphones for the first time through a secure digital payments platform.


The major upshot to such a development is that it means consumers would be able to make payments without their card details being sent to the merchant, thereby negating the risk of sensitive information being intercepted and used to commit fraud.

eftpos Managing Director, Mr. Bruce Mansfield, believes that the development will not only be more secure but that it can be implemented on a reasonable budget.

“The trial ‘eftpos digital payments’ solution is designed to be a secure, real-time and low-cost solution for the industry because it leverages existing payments infrastructure and other assets such as merchant terminals,” Mr Mansfield said.

One of the key partners working with eftpos to trial the new solution is the Commonwealth Bank, one of Australia’s market leaders in competitive merchant facilities.
 
Commonwealth Bank’s Executive General Manager Cards, Payments, Analytics and Retail Strategy, Mr Angus Sullivan, said: “The Commonwealth Bank is excited to be part of eftpos’ innovation journey, as we focus on offering our retail customers and merchants the latest technology and innovation. This solution is a highly secure way to pay in-store or online and will revolutionise the POS shopping experience.”  

IF EFTPOS is looking forward to hearing further news on the progress of this ground-breaking payments solution and will be sure to keep our site visitors abreast of further developments.

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