New eftpos sandbox drops first eQR and eComm code to Aussie FinTechs & developers

eftpos today announced that the forthcoming releases of its eQR platform and rapidly evolving online payments capability, are now available for test drive as APIs to Australia’s FinTech and digital payments developer communities.

eftpos Chief Information Officer Ben Tabell said this important milestone ushers in the next wave of eftpos digital transactions in Australia, with capabilities built on new architecture to enable Fintechs and developers to innovate on the domestic debit network. 

“As Australia’s first real-time payments FinTech, eftpos is committed to giving FinTechs real access to real products, so they can test, iterate and launch products that delight users and generate wealth for the nation,” Mr Tabell said.

“Our new sandbox gives Australian FinTechs far wider options to support job creation in the blossoming local digital payments ecosystem by building-in and integrating services from eftpos.”

The release (also called general availability) of the new eftpos APIs (application programming interfaces), enables local and regional app-creators to immediately start developing eQR and eComm innovations.  It brings the number of eftpos APIs to six.

In the near-term, it also means that local FinTechs, start-ups and software and solutions developers get timely access – and a voice – within eftpos’ safe and secure code sandbox to build and test new solutions and integrations ahead of the full launch of eQR later this year.

The eQR platform is about reimagining the Australian payment experience beyond payments, especially when businesses are looking to new digital innovations to help improve efficiency and create better customer experiences. 

eQR provides Australian consumers and merchants with better, simpler, data-rich payments experiences no matter where consumers choose to shop – online, mobile or at the checkout. This initiative comes at a time when Australians are becoming familiar with QR code technology through daily interactions with COVID19 check-ins and increasingly turning to digital shopping. 

Mr Tabell said eftpos has laid-down a comprehensive innovation and technology strategy in its Product Roadmap, which was updated and released to the industry this month (Sept 2021 Roadmap), and these latest releases are delivery in action.

Also under fast development are eftpos’ lastest eComm solutions, to deliver a new generation of far more secure online payments (also known as card-not-present).
 

Key facts and technical details 

In 2020 eftpos launched its public API program to enable FinTechs to innovate on top of the eftpos rails at the infrastructure, commercial and product development levels, or become a merchant. 

A new API gateway went live in August 2021 to make access and integration easier for FinTechs.  The eQR platform, and online payments capability, growing on the four eftpos APIs that are already live.

eftpos Chief Information Officer Ben Tabell said the gateway gives Australian developers access to home-grown, locally-owned and real-time debit payment rails via dedicated sandbox and open APIs.

Mr Tabell said eftpos is simplifying developer onboarding across eftpos services by providing a contemporary developer experience using RESTful APIs with JSON on the eftpos API Gateway. 

“All eftpos Services may be accessed in a consistent manner using OAuth 2 for authentication and authorization,” Mr Tabell said.

“The Developer Portal allows developers to view and download all APIs as Open API Specs (Swagger) as well as providing a Sandbox mocking services to allow developers to quickly explore how the APIs work.”
 


Out of the box

eftpos eQR code solution: key points

  • eftpos completed the first stage of the eQR build in July 2021
  • The eQR platform is about reimagining the Australian payment experience beyond payments, whilst businesses are looking to new digital innovations to help improve efficiency and create better customer experiences
  • Comes at a time when Australians are becoming familiar with QR code technology through daily interactions with COVID19 check-ins and increasingly turning to digital shopping
  • Lets consumers pay via a QR code from their everyday bank debit account 
  • Gives shopkeepers, venues and tradies a way to link loyalty and rewards in a single transaction
  • Keeps Australian payments in Australia
  • Importantly, eftpos is also working with the industry on a QR payments standard

eftpos eCommerce card-not present solution: key points

  • Delivers eftpos’ next-generation of secure online payments (card-not-present)
  • Core eCommerce messaging sent live in August 2020, with card-on-file transactions now running
  • eftpos is currently well advanced with the design and implementation of network fraud scoring and eftpos Secure (EMV 3-D Secure) services as network risk reduction capabilities, both of which have been in development for several years and will be commercially available for the industry from November 2021, for rollout by May 2022