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.
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.
eftpos is in the midst of a transformation which aims to deliver the infrastructure and technology needed to provide eftpos CHQ and SAV transactions to consumers and merchants on platforms such as Contactless, Online and Mobile.
The eftpos transformation is 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 will ensure that, despite changing technology, Australian consumers and merchants will continue to have access to a competitive, low-cost, domestic debit payments choice for many years to come.
The transformation involves three core streams:
- Commercialisation and deployment of eftpos Chip and Contactless,
- 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the eftpos Hub infrastructure to move work associated with our pipeline of product enhancements away from the current outdated and cumbersome bilateral environment, and
- Building on the eftpos Digital Payments program to support Online and Mobile eftpos payments.