Beem It builds eftpos national QR code payments utility

eftpos today announced that its subsidiary, Beem It, had been selected to build the company’s national QR code utility – starting immediately.

The new QR code payments capability, which will be offered by eftpos, is expected to be in market as early as July 2021, with multiple merchants in trial.

eftpos CEO Stephen Benton said that following a global tender process, eftpos selected Beem It to build the QR code utility because of its previous experience with QR codes in the Australian market, the strength of its team and its familiarity with the eftpos network.

“It was great that we have the right expertise to build the new QR payments utility inside the Beem It team and we can get to work right away,” Mr Benton said.

“This is an important build because eftpos QR will provide Australian consumers and merchants with better data-rich payments experiences no matter where they choose to shop – online, on their mobile or at the checkout.

“The time is right because Australians are now very familiar with using QR codes for activities like COVID-19 check ins, and they are increasingly turning to new ways of shopping in the digital environment.”

eftpos purchased Beem It, the Australian payments App that enables consumers to send and receive money using their phone in seconds, in November 2020 to help diversify the business and move further into the digital ecosystem.

eftpos and Beem It are designing the new national QR code utility to be low cost and to facilitate many value adds for merchants and consumers such as loyalty, offers and receipts. The national rollout is expected to be completed in 2022.

Merchants and consumers will connect to the utility using a unique QR code presented by Merchants.

This enables consumers to initiate and transact securely with their preferred digital wallet. This innovative multi-interaction connectivity creates a new experience beyond payments, powered by eftpos emerging APIs.

Beem It Acting CEO Ciaran Forde said the build was an exciting opportunity for Beem It because eftpos QR orchestration would help Australian merchants create better experiences for their customers and potentially reduce costs.

“The opportunity to build out a piece of infrastructure that has the ability to fundamentally change how payments are made in Australia is an exciting one.” Mr Forde said. “Beem It’s app enabled a new way to pay and get paid, and we look forward to taking that approach to the world of merchant payments where there is immense undiscovered value for consumers and merchants.”

beem it on mobile phone
13-05-2021

eftpos as a blend of leading-edge initiatives and a trusted national payments network

eftpos Chief Information Officer Ben Tabell explains how eftpos is a national payments network that enables real time payments for business and consumers across the Australian economy, owned and operated by Australians - but it’s also a company at the forefront of multiple leading edge initiatives.

While this may seem paradoxical, eftpos is emerging as a cohesive mix of the two ends of the spectrum.

In ten years, eftpos has evolved from a behind the scenes set of bilateral agreements relevant for point of sale only to a dynamic business, which is innovating and matching capabilities of International Card Schemes (ICS) for local demand at point of sale, for mobile and in online. eftpos has now diversified into a digital wallet and digital identity business, and is developing initiatives including QR code orchestration and a micropayments POC.

And the solid, trusted foundations of the eftpos payments scheme are helping it innovate for the future, in a robust and secure way. 

eftpos Members who participate in an eftpos payment service are required to follow the scheme rules and technical, operational and security rules for that service.

This ensures standard functionality and operations according to common standards for the service, including user experience, consumer protection safeguards, branding and settlement which are documented in our technical, operational and security rules.

Our diverse team has extensive expertise in service delivery within the payments sector and draws on more than 40 years combined experience in payments service delivery and technical support. We have delivered an SLA of 99.999% availability and round the clock support for processing, and in the four years since establishing, the eftpos Hub has never experienced an outage.

Our Disputes and chargeback services provides a tool for use by eftpos Members to manage the process to resolve disputed transactions and chargebacks arising from eftpos Transactions.

eftpos also provides merchant tokenisation services that promises to improve authorisation rates and reduce fraud rates for debit cards stored with merchants in their Card on File services. Mobile tokenisation services also support purchase, refund and cash out with cash out at sale using a mobile Pay service provider being a differentiator for eftpos compared with the ICS.

The growth of debit card transactions in Australia makes eftpos’ digital strategy even more important for competition and innovation. Our national network provides Australian FinTechs the opportunity to build innovative solutions and payments capability, with access to hundreds of thousands of Australian merchants and millions of Australian eftpos-enabled cards via the eftpos network.

eftpos is already collaborating closely with over a dozen FinTechs and industry organisations such as Fintech Australia and Stone & Chalk, in an effort to work with the brightest and most innovative Australian FinTech minds.

eftpos formed a FinTech Advisory Committee in collaboration with FinTech Australia, as another way of giving FinTechs a direct say in how they can access our payments network in the future.

eftpos has also chosen to deliver better digital experience through development of its assets (connectID, Beem It, QR orchestration) competing directly with Big Tech.

Last year eftpos purchased Beem It, the Australian payments App that enables consumers to send and receive money using their phone in seconds, regardless of who they bank with.

Australians are rapidly moving much of their daily lives to mobile and Beem It is a great Australian-owned and operated option for them to embrace digital payments. The purchase serves as a key element to eftpos’ strategy to diversify and move further into the digital ecosystem.

Another new eftpos technology that will allow Australian businesses to grow their digital sales at low cost is QR orchestration. Using enriched data and integrated customer loyalty services, by leveraging eftpos’ robust and secure Australian owned network infrastructure.

With trials to commence mid-year, the decision to rollout eftpos QR code payments and orchestration 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.

Also under development is the eftpos Digital Identity service (connectID), which will enable eftpos to establish itself at the centre of the digital ecosystem by allowing identity issuers and requesters to connect with the widest range of Australian identity owners.

As the broker providing ‘rails’ in the national identity network, we aim to connect every participant in the AusPayNet developed TrustID framework as well as in other Australian frameworks, such as the government’s Trusted Digital Identity Framework (TDIF). Launch is planned for mid-2021.

eftpos recently became the 17th member of Hedera Hashgraph's Governing Council, along with the likes of Boeing, Google and DLA Piper. Hedera Hashgraph is a third-generation distributed ledger technology. We have conducted a proof of concept with one of many logical use cases being micropayments. We see this capability as another opportunity for our members and their customers to innovate with, driving further diversification for eftpos and placing eftpos in the middle of the digital economy.

Australian businesses know digital technologies are transforming work, life and business. eftpos understands this too. We are proud to be a market leader in developing digital payments solutions in collaboration with financial institutions and new fintech entrants.

As such, eftpos is no longer a card-only at point of sale business and has grown into a diverse business with competitive digital capability and significant eftpos-only payments and non-payments functionality.

Our purpose remains simple – to change the way Australians pay for the better. We are innovating in a way that remains true to our record of putting the interests of Australian merchants and consumers first, as a reliable, ubiquitous, low-cost competitor to the multinational schemes and global tech giants. 

Ben Tabell
30-04-2021

New eftpos marketing out and about

By now many of you will have seen the new eftpos marketing campaign while you are going about your daily business.

Whether you are shopping at the local mall or enjoying social media, the campaign in now front and centre for millions of Australian consumers and businesses, with its simple message - ‘your money, well spent’.

The campaign celebrates how choosing eftpos can help you stay on top of your day to day money, spend wisely on the everyday things that bring you joy and in doing so live a fuller life within your means.

You may have seen it recently on screens, Out of Home, digital and social.

VMO Chatswood eftpos
29-04-2021

eftpos to join Intersekt FinTech showcase

eftpos will showcase one of its recent FinTech collaborations at Intersekt next month.

The Intersekt conference in Melbourne is the leading, most thought-provoking gathering of Australian FinTechs, hubs, accelerators, policymakers, regulators, investors and advisors, devoted to examining, discussing and unlocking the potential of Australia’s FinTech market.

During the conference, eftpos’ CIO Ben Tabell will take to the stage with Verrency to talk about their partnership, using the eftpos API program for a card-linked offers loyalty solution that provides meaningful value for millions of eftpos enabled cardholders.

The Verrency solution enables loyalty program providers to give cardholders rewards and discounts for making eftpos transactions on around 51 million Australian eftpos-enabled proprietary, multi-network debit and multi-network credit cards at participating merchants.

The eftpos public API program represents a great opportunity for Australian FinTechs to innovate on the eftpos network, with access to hundreds of thousands of merchants across the country.

Intersekt
29-04-2021

eftpos’ new hybrid working model and why together is better

To Ashley Williams, Chief People & Culture Officer, the eftpos culture is what excites her the most. Particularly the genuine connection team members have to their work and each other.

Appreciating that people can learn so much in a smaller company due to the broad nature of roles, Ashley is focused on supporting and enhancing the eftpos Group culture, and to lift the commerciality of eftpos, voice of the customer, alignment, clarity, capabilities at both an organisational and personal level.

eftpos’ new hybrid working model is one project intended to realise the best of both worlds for the eftpos team. Pioneering a new way of working the long-term objective is for employees all to feel a real sense of purpose at work, while at the same time be able to embrace the non-work aspects of our life.

Ashely explains that while establishing the new ways of working at eftpos, the team is also driving a new program of work to define Group Values and intersections of the expanded eftpos Group of businesses which including connectID and Beem It. It’s all about how to best leverage the people, brands, capabilities and resources.

An eftpos value, which really is a universal value is “Together is Better” – together we achieve more than alone, and this is always true. eftpos is in the process of integrating the three businesses to form one collective whole, whereby the different businesses can retain their uniqueness and strengths.

This was top of mind as Ashley and others attended an all employee eftpos group offsite in April. The day was designed around coming together as one team, connecting and meeting new faces in person, which as we all know has been significantly impacted over the past year.

The entire eftpos team were inspired and enthralled hearing from two special speakers. Including World Cup of Martial Arts Gold Medallist Nadine Champion, who has dedicated over thirty years of her life to studying martial arts and discovering practical tools for strengthening the mind, developing resilience and building courage.

In addition, Anyier Yuol, spoke about having a Growth Mindset and the importance of resilience, positivity and adaptability. Anyier was able to share how these strengths empowered her to be vocal about the need for Diversity & Inclusion in the Australian workforce. Believing so much time is often wasted talking about Diversity and Inclusion without taking any practical actions.

Ashley believes this is a crucial point and is personally passionate about challenging perspectives; believing we all can promote a culture of acceptance and inclusion. Starting with having a dialogue until we are all comfortable and no longer have the fear of saying the wrong thing. 

eftpos’ purpose to do Good for Australia is a way in which the eftpos team can focus our social contribution on where it is most needed. Ashely says knowing we are doing good for the community is a great feeling, is another reason why it makes her proud to part of the eftpos team.

As a concluding thought Ashley reveals that work is a thing we do, not a place we go. We all want to stay connected and supportive of each other as human beings while striving to make this life juggle more enjoyable. And that why together is better at eftpos.

eftpos hybrid
29-04-2021

eftpos and Hedera Hashgraph feature at Blockchain Week 2021

In Australia’s first-ever national Blockchain Week, eftpos’ Ben Tabell and Rob Allen were joined by Hedera’s CEO & co-founder Mance Harmon, to discuss eftpos and the potential benefits that Enterprise Grade Distributed Ledger Technology (DLT) brings to for Australia’s Digital Economy.

As a third-generation DLT, Hedera Hashgraph aims to solve for a number of issues encountered by earlier generations of blockchain technology including scale, security and performance.

Since mid-2020 eftpos has been collaborating with Hedera on a successful micropayments proof-of-concept, and now as a Hedera Governing Council member, eftpos will soon run Australia’s first Hedera network node and help shape the digital assets landscape in Australia.

On the Hedera Governing Council, eftpos is joined by a group of well-respected and diverse organisations including Avery Dennison, Boeing, Dentons, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Standard Bank, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group.

The Council members which are decentralised across geography, industry and time, in addition to a focus on regulatory compliance, contribute to building the trust layer for the internet.

Designed to be the most decentralised governance model for a public ledger, the Hedera Governing Council oversees a global network of nodes that aims, among other things, to enable low-cost micropayments for a range of use cases such as the Internet of Things (IOT) microtransactions and access to content streamed over the internet.

The relationship with Hedera is part of eftpos’ digital strategy, as we increasingly move into the Digital Economy, with online capability and other services such as digital identity and mobile wallets.

Australia’s Digital Economy future state is potentially very different from the one we have today, so this requires effort to envisage the issues and needs in the long term.

As a national payment provider, eftpos needs to be informed by experimentation and innovation, so we are not just for here for the present, but importantly also for the future.

Looking into the near-term future, enabled through DLT, the use cases need to be scalable, secure and facilitated at a very low fixed cost. With this infrastructure in place, we will open entirely new business models.

This is a natural extension of the eftpos payments network that we operate on, focused on facilitating low cost commerce for Australia.

Working closely with companies and applications such as Hedera and the other Council members, eftpos is planning for the next chapter in the payments evolution, and more ways to deliver a secure, transparent and digital ready future for Australia.

eftpos blockchain
29-04-2021

eftpos has a new brand logo and campaign!

This month eftpos unveiled a new-look logo and brand refresh to better reflect the brands digital transformation.

The new look is a key component of our much broader digital payments strategy, as we focus on creating greater value, ease and security for consumers and businesses.

The new logo and fresh brand colours follow the announcement of the eftpos digital product and technology strategy rollout over the next two years, which aims to make it easier for Australians to manage their own money and live a better life in the digital world.

It’s a bold and distinctive look and feel across every touch point – in store, on mobile and across all digital platforms.

The magenta colour is vibrant, modern, and highly distinctive. The evolved, stylised ‘digital e’ now perfectly represents the brand and its exciting future.

eftpos is one of Australia’s most iconic brands, and we were careful and thoughtful about how we needed to evolve it for the future.

It appeals to all Australians, including millennials who embrace the digital economy.

Extensive market research and consumer feedback from pre-launch testing has been extremely positive, confirming the new brand retains all the elements they uniquely associate with eftpos as a humble Australian innovator doing good for Australia.

The trust, convenience, and security they have come to know when using eftpos remains, and at the same time we are innovating and advancing for the future.

This brand refresh is a key component of our much broader digital payments strategy, focussed on creating greater value, ease and security for consumers and businesses by enabling compelling innovations for members, FinTechs and retailers that enhance the digital commerce experience.

eftpos which is best known historically for helping Australian businesses and consumers with low cost and secure payment options instore, is now also available to Australian businesses that accept online card-on-file transactions from their customers.

Which is why the dynamic, legible lowercase ‘e’ design of our new logo has been purposefully conceived for the digital environment.

This was an important milestone in eftpos’ Australia-first digital product strategy which also enabled the next stage of new value-added services for the Australia market.

The new brand rollout will be a staged roll out due to the brand’s extensive presence, with over 50 million cards to be updated along with hundreds of thousands of eftpos acceptance marks displayed by merchants across Australia.

It will start to appear across eftpos assets including our website, consumer marketing campaigns, external communications and merchandise first. Over time it will begin to appear across our Members and stakeholder channels such as mobile and digital, new cards, terminals and merchant point of sale branding.

eftpos’ new brand platform ‘Your money, well spent’ will be the first to use the refreshed brand logo.

The campaign idea celebrates how choosing eftpos in your mobile wallet can help you stay in control and spend wisely on the everyday things that bring joy. And because they’re earned, not borrowed like credit, it’s ‘Your money, well spent.’

Coming to life across an engaging and educational launch campaign with contextual placements across screens, OOH, digital and social at the end of March.

As we continue to navigate the impacts of the global pandemic, eftpos is supporting Australian businesses by promoting a range of low-cost payment options and rolling out new value-added services.

The evolution of our brand combined with our new digital product strategy is critical, allowing us to demonstrate ‘Good for Australia’ story and to optimise the growth for the benefit of Australia.

Anthony Dumont – Head of Brand and Marketing, eftpos

eftpos has a new brand logo and campaign!
31-03-2021

connectID applies to become first accredited non-govt digital Identity exchange

eftpos has applied to become the first non-government accredited operator of a digital identity exchange in Australia, ahead of its plans to launch its solution connectID  later this year.

During the Select Committee on Financial Technology and Regulatory Technology hearing earlier this month, eftpos CEO Stephen Benton announced the company had applied to the Digital Transformation Agency to become the first non-government accredited TDIF exchange in Australia.

The TDIF is a series of policies and standards that underpin the government’s national federated identity model, including the accreditation of government agencies and private sector organisations.

Only the government’s exchange, operated by Services Australia, is currently accredited under TDIF, while the Australian Taxation Office and Australia Post are the only accredited identity providers.

Similar to the government’s identity exchange, connectID solution acts as a broker between identity providers to allow organisations to verify identity.

More on connectID

connectID applies to become first accredited non-govt digital Identity exchange
30-03-2021

eftpos Roadmap Update aims to drive competition and improve consumer experiences as digital innovation takes off

eftpos has today released its Product Roadmap 2021 Update, which aims to drive payments competition and improve consumer experiences in Australia’s fast-growing digital economy.

The Product Roadmap updates the delivery dates for a suite of initiatives and enhancements including in-app payments, enhanced fraud protection, a Digital Identity network, mobile wallets, QR Codes, APIs and eftpos online payments, such as enhanced fraud protection for additional use cases. Many of the initiatives have been in train for many years and the Product Roadmap provides greater clarity to Members, FinTechs and retailers on delivery dates that enhance the digital commerce experience.

eftpos CEO Stephen Benton said the Product Roadmap aims to enhance consumer convenience and lifestyle choices and help local businesses grow at a low cost.

Mr Benton said the Product Roadmap was specifically designed to support Australia’s fast growing digital economy while enabling compelling home-grown innovations for eftpos’ members, FinTechs and retailers.

“The Product Roadmap updates our schedule for key technology rollouts by eftpos, its members and technology partners over the next two years which aim to create greater value, ease and security for Australian consumers and businesses transacting in the digital economy,” Mr Benton said.

“This represents a platform for persistent innovation and transformation for eftpos as we move to underpin Australia’s digital economy in the same way we have done for Australia’s point-of-sale retailers for more than 35 years.

“It helps eftpos, as an Australian-based payments company bring real competition to big international payments players in the Australian digital economy, with home-grown innovation, choice and potential cost savings for local businesses,” Mr Benton said.

“And it comes at a time when Australians are increasingly turning to shopping online, and businesses are looking to digital innovation to improve productivity and efficiency as the nation continues to deal with COVID-19 and recovery. That’s good for Australia.”

The eftpos Product Roadmap 2021 Update follows the release of the company’s digital and technology strategy in December 2020. It has five key elements:

  • Mobile Wallets
  • eCommerce
  • Digital Identity – connectID
  • APIs and Fintech access
  • QR Acceptance & Experiences Platform

eftpos Chief Product Officer Matt Barr said one of the many product initiatives was in-app mobile payments, supporting the growing use of mobile payments by Australians.

Mr Barr said that by early 2022, Australians should be able to use tokenised eftpos payments within mobile apps via their preferred mobile wallet on their smart device.

“This is just one example of the Product Roadmap giving merchants more opportunities to potentially lower their costs and consumers more convenience and choice, when using mobile payments in store or within a mobile app,” Mr Barr said.

Download the 2021 eftpos Product Roadmap here

eftpos Roadmap Update aims to drive competition and improve consumer experiences as digital innovation takes off

eftpos Roadmap Update aims to drive competition and improve consumer experiences as digital innovation takes off
30-03-2021

eftpos launches new brand campaign championing living & spending mindfully — ‘your money, well spent’

Author: Anthony Dumont – Head of Brand and Marketing, eftpos

Following the unveiling of the brand’s new-look logo earlier this month, eftpos has launched its new brand campaign platform, ‘your money, well spent’, with the idea centred around championing living and spending mindfully as a key aspiration for Australian millennials.

The campaign kicks off from 28th March and will come to life over several months through an engaging and educational national campaign with contextual placements across screens, OOH, digital and social.

Anthony Dumont – Head of Brand and Marketing, eftpos said the idea celebrates how choosing eftpos can help you stay on top of your day-to-day money, spend wisely on the everyday things that bring you joy and in doing so live a fuller life within your means.

“The brand idea perfectly encapsulates our brand purpose ‘to do good for Australia’ and is a key component of our much broader digital payments strategy, as we focus on creating greater value, ease and security for consumers and businesses,” Mr Dumont said.

As eftpos concentrates on evolving its brand and marketing strategy as part of the company’s transformation, eftpos engaged the expert team at Richards Rose following a pitch late last year to help lead these efforts.

Richards Rose Executive Creative Director, Adam Rose said eftpos is a brand with a genuine purpose; to do good for Australia.

“With this first campaign we wanted to show the joy a little tap can bring to your life. ‘Your money, well spent’ praises and encourages the choice to lead a mindful, happy life within your means. ‘Your money’ refers to the item you’ve purchased, whilst ‘well spent’ refers to the emotional reward. The eftpos functionality sits at the heart of every execution and meaningfully connects the two,” Mr Rose said

Anthony Dumont added the brand campaign expresses the ‘your money, well spent’ idea, bringing to life the emotional reward of living mindfully with your own money.

“eftpos is one of Australia’s most iconic brands, and we were careful and thoughtful about how we needed to evolve it for the future, with a defined brand story, relatable campaigns and a stand-out, relevant symbol,” Mr Dumont said.

The campaign has been achieved using a warm, friendly and fun tone and bright and vibrant colours, reflecting the brands new-look logo the stylised ‘digital e’ now representing the brand.

‘Your money, well spent’ campaign videos can be accessed here.

Credits:

Client: eftpos

Head of Brand & Marketing: Anthony Dumont
Senior Marketing Manager: Christina Werakso

Creative Agency: Richards Rose
Executive Creative Director: Adam Rose
Creative Director: Simon Edwards
Creatives: Sean Cleary, Robert Bamford, Chris Stewart, Cameron Brown
Head of Production: Tanya Hairman
Designer: Mac Archibald
Senior Finished Artist: Alistair Donald
Head of Planning: Jody Elston
Group Account Director: Kristen Sandberg
Account Executive: Dion Dovas

Production: FLIPP
Photographer/Director: Stuart Miller
Producer: Anastasia Nielsen
Post Production: White Chocolate
Sound: Squeak E Clean

eftpos launches new brand campaign championing living & spending mindfully — ‘your money, well spent’

eftpos launches new brand campaign championing living & spending mindfully — ‘your money, well spent’
26-03-2021