As the coronavirus pandemic accelerates digital spending, eftpos, recently announced it has started to roll out digital payments solutions for businesses.

Switching on digital payments offers more choice and potential savings for Australian small businesses during the challenging COVID environment.

Dozens of Australian businesses, including Aussie Broadband and Cluey Learning, were already embracing eftpos card-on-file payments, with tens of thousands of transactions being processed through the service each month.

It is early days but the service will increasingly enable more small and medium businesses to have Australia’s most popular cards – multi-network debit cards – processed by eftpos, and potentially deliver significant cost savings. These potential savings are particularly important for small businesses during COVID-19 and recovery.

Almost 40 Australian banks including Suncorp, are also supporting the service, enabling their cards to be processed by eftpos for card-on-file payments.

Aussie Broadband’s Managing Director, Mr Phillip Britt said: “We’re very excited to switch on eftpos’ digital payment solution. We believe this solution could potentially help Australian businesses reduce costs during these challenging times.”

Cluey Learning’s CFO, Mr Greg Fordred said: “As a rapidly growing online school tutoring business, Cluey Learning needed a low cost, scalable payment method. We’ve now moved to eftpos’ digital payments which we’re finding is a great solution.”

Card on file transactions are payments made from a card which is securely stored by the merchant or their payment system provider, for regular payments.

If retailers are interested in accessing the new service they should contact their online payment service provider.