Today we completed the eftpos Hub project with all original Members, processing around 5 million POS and ATM transactions a day. We also expect to connect additional, new Members in the near future.
The completion of the eftpos Hub project is a significant achievement for the industry and our partners.
The network will help us implement cost effective, local industry solutions for common payments issues.
The eftpos Hub is mission critical infrastructure that links the Australian payments industry through a central point, replacing a network of complex bilateral links between financial institutions and merchants that have evolved since eftpos was first launched in Australia more than 30 years ago.
To date, the eftpos Hub has had zero downtime, while conducting regular releases, changes and processing millions of transactions a day.
Since going live with our first two Direct Connectors on 9 September 2014, the Hub now has 11 Direct Connectors processing transactions:
- Cuscal (Two connections – supporting Bendigo and Adelaide Bank, and ING)
- First Data (Also supporting Bank of Queensland, Citi, ASL and Indue)