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At 7.20am on 9 September 2014 the first consumer transaction was made across the new eftpos Hub at a newsagent in Freshwater, on Sydney’s northern beaches.

Transforming eftpos

In a world of mobile phones and internet browsing, Australians are changing the way they shop and pay, and eftpos is evolving its technology to meet their needs.

In 2017 eftpos completed a transformation which aims to deliver the infrastructure and technology needed to provide eftpos transactions to consumers and merchants on platforms such as eftpos Tap & Pay™, Online and Mobile.

The eftpos transformation was a multi-year, collaborative industry program that represents the first significant technology change to the eftpos system since it was first introduced in Australia three decades ago.

It aimed to ensure that, despite changing technology, Australian consumers and merchants will continue to have access to a low-cost, domestic debit payments choice for many years to come.

The transformation involved three core streams:

  1. Commercialisation and deployment of eftpos Chip and Contactless – our Members started issuing eftpos only Chip cards in 2017,
  2. The development of the eftpos Hub infrastructure to move work associated with our pipeline of product enhancements away from the current outdated and cumbersome bilateral environment – all foundation Members are now connected, and
  3. Building on the eftpos Digital Payments program to support Online and Mobile eftpos payments – eftpos launched eftpos mobile on 18 October 2017.