At eftpos our purpose is to change the way Australians pay for the better.

With access to 50 million cards in market, we help create innovative, bespoke customer payment experiences.

Launched in the 1980s, eftpos introduced a fast, simple and secure payment system which was rapidly embraced by both shoppers and merchants. eftpos revolutionised the way we pay for goods and services, and as a result changed the retail landscape forever.

Today, eftpos competes in an ever-changing, dynamic environment against a number of payment systems.

Our Vision is to be Australia’s payment choice by making life easier and being centre of the digital ecosystem

eftpos is an unlisted company, owned and operated by Australians and is an essential and valuable part of the fabric of everyday Australian life. Hear eftpos CEO and Managing Director Stephen Benton talk about our company in this short video.

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eftpos is a company limited by guarantee and wholly owned by its 19 Members

eftpos CEO and Managing Director Stephen Benton talks about eftpos.

eftpos Payments Australia Limited is unlisted.  As an unlisted public company, eftpos follows many, but not all, of the Corporate Governance Principles and Recommendations (4th edition) published by the ASX Corporate Governance Council February 2019 (CGPRs). 

Documents and information which reflect eftpos’ adoption of the remainder CGPRs are accessible through the “About Us” and “Annual Report” landing pages of the website.  eftpos otherwise confirms that:

  • it has a process for periodically evaluating the performance of the board, its committees and individual directors as well as Management Team, which was done during the reporting period;
  • the risk management framework for eftpos has been reviewed at least once during the reporting period;
  • the Company has engaged Grant Thornton to perform the internal audit function and the Risk & Internal Audit Committee receives regular reports about the outcomes of each audit performed according to a plan approved by that Committee for the reporting period.

Those CGPRs that eftpos does not follow are set out below.  Specifically, eftpos does not adopt CGPRs:

  • 2(a), 1.5 and 2.6 as the eftpos Constitution permits Members to nominate directors to the eftpos Board which precludes eftpos performing checks before appointment, maintenance of gender diversity at the eftpos Board the Company having a majority of independent directors,
  • 5 – while eftpos has a Diversity Policy, it has elected not to publish the policy (as eftpos is not a listed entity and has fewer than 100 employees), although as at the date of publication:
    • the gender composition of the Board changes according to the nominee directors nominated by Members in accordance with the eftpos Constitution;
    • the Management Team has 50/50 gender representation;
    • eftpos has roughly even gender numbers on staff; and
    • eftpos prides itself on the cultural, marital or family status, age, ethnicity, religious beliefs, cultural background and socio-economic background diversity.
  • 2, 3.4 – while eftpos has a Board Code of Conduct and staff Code of Conduct (containing matters similar to those set out in box 3.2 of CGPR) and an Anti-bribery Policy, it has elected not to publish them as eftpos is not a listed entity ,
  • 3 – as eftpos does not disclose periodic corporate reports to the market and is unlisted
  • 1, 5.3, 6.2, 6.3, 6.4, 6.5 and 8.2 as eftpos is not a listed entity, does not have securities that are traded, and does not give new and substantive investor or analyst presentations.  eftpos’ Constitution sets out voting arrangements at member meetings the results of which are captured and available to members on request in accordance with the Constitution.  However, eftpos does communicate with its Members at regular Member meetings and at its Member Class Meetings and Annual General Meeting, about matters impacting the eftpos business.  In addition, the majority of eftpos’ directors are nominated by its membership and receive no remuneration from the Company.  The remuneration of the non-executive directors are disclosed, together with other remuneration packages in aggregate in the audited financial statements. The remuneration is reflective of the time commitment and responsibilities of the roles of non-executive directors which chair the Board and all committees.  The remuneration of the Management Team are an appropriate balance of fixed and performance based remuneration.  eftpos does not have an equity-based remuneration program.  CGPR 8.3 does not apply as eftpos does not have an equity-based remuneration scheme. 
  • 1 as all eftpos directors speak English, 9.2 and 9.3 as eftpos was established in Australia.

The eftpos values are:

Find a way to make an impact we care about our customers’ success, focus on solving their needs, overcome obstacles with a ‘test & learn’ mentality to deliver commercial solutions
Be a bold leader we are leaders individually and as a collective, all driven to deliver our purpose with courage, judgement and decisiveness.
Be curious we think beyond the obvious and adapt in a changing world to convert opportunities others miss.
Together is better we collaborate across diverse teams, earning each others’ trust every day to achieve greater results.
Family oriented we support each other to balance pursuing excellence at work and spending time with who matters most at home.
The Australian Way we are true to ourselves, fair, candid, do the right thing for our customers, our people, our country and have fun along the way.