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!
eftpos has a new brand logo and campaign!
eftpos has a new brand logo and campaign!

New Beem It CEO kicks off plan for national Aussie rewards program

eftpos today announced seasoned digital executive Mark Britt has joined the eftpos team as CEO of Beem It, hitting the ground with plans for a new national rewards platform for Australian consumers, which aims to take the Aussie-grown mobile wallet to the next level.

Mr Britt’s vision for the business is to extend the digital wallet experience into the physical world.  While further details will be announced in the coming months, it can be revealed Beem It will soon enable discounts and offers, an all-in-one loyalty wallet, gamified social rewards, promotions supporting local businesses, and more.

eftpos through Beem It, has plans to build an Australian digital marketplace that aims to deliver on the unique needs of Australian consumers and merchants, and flourish through facilitating exceptional customer experiences.

eftpos CEO Stephen Benton said in addition to taking the job as Beem It CEO, Mr Britt would also lead eftpos’ new ventures business to drive commercial outcomes across the wider eftpos Group of businesses, including responsibility for its Digital Identity solution, connectID.

“Mark embraces the start-up mindset required to deliver the necessary speed to market and intensity of meeting customer needs. Which is critical as the eftpos Group has big aspirations for Beem It, both in terms of the role it will play in Australia as the lifestyle app for all Australians and for the eftpos Group broadly to progressively cover new ventures for the Group.

“Beem It, along with other eftpos assets such as connectID, will be utilised to create compelling innovations within a local ecosystem for consumers, Fintechs, merchants and banks to enhance digital commerce while leveraging existing industry investments to help compete with Big Tech,” Mr Benton said.

Former CEO of Nine Digital and spearheading Microsoft’s Consumer and Online business for the Asia Pacific region as General Manager, Mark also co-founded iflix, a video streaming service across Asia.

Mr Britt said he was looking forward to leading Beem It which is poised to embrace the take up of the use of digital wallets, as well as launch promotions supporting local businesses and each other. 

“Beem It already has a loyal user base of over 1.4 million Australian members, with over 200 million social connections between them, so there is a great opporuntity to make Beem It available to more people with more services and features, whilst creating an Australian digital marketplace focused on delivering value for all users,” Mr Britt said.

“Australians are already using digital wallets to pay for everyday expenses and eftpos recognises the key growth opportunities are linked to how the value-added services that wrap around the digitised payment are achieved.” 

In addition to previous roles at Ninemsn, PWC and representation on several Boards and charity organisations, Mark brings great consumer insights and deep experience in digital strategy, both building and leading successful tech businesses across the APAC region.

eftpos has an agnostic approach to mobile payments. eftpos mobile transactions grew more than 400% year on year in May 2021 across all supported mobile ecosystems and from April to May 2021 alone, there was 13% growth in eftpos mobile transactions.

Mobile and digital wallets are an important part of eftpos’ mobile strategy and with the continued rise of digital wallets and in store mobile initiated transactions as the most common types of contactless forms of paying.  

eftpos purchased Beem It in November 2020, which was the logical move as a trusted Australian payments brand that has access to hundreds of thousands of Australian merchants, millions of consumers and is quickly moving into digital payments.


eftpos report provides pathway to stronger FinTech collaboration and innovation

eftpos has released a report in collaboration with FinTech Australia, delivering ten recommendations outlining how Australian FinTechs can best leverage the eftpos digital roadmap and API programs, and work in partnership for the betterment of Australia’s digital economy.

Representatives from ten leading FinTech businesses along with eftpos, developed the set of recommendations to streamline access to the eftpos network and to safeguard Australia’s domestic cards payment infrastructure to achieve the competition, innovation and productivity sought by the Australian FinTech community.
eftpos’ Chief Information Officer and Committee Chair, Ben Tabell said the Committee provided invaluable insights and feedback at a time when the company was rapidly expanding in the digital space.

“Enabling Australian FinTechs a direct avenue to discuss how they partner and collaborate to access the eftpos payments network through the Committee resulted in recommendations that covered a number of central themes, including consultation and engagement, regulation, and technology and solutions,” Mr Tabell said.

“Through our ongoing collaboration we expect eftpos can build on its efforts to make it easier for Australian FinTechs to access the eftpos network and our products and services, in order to build their own businesses and payment experiences that can work across a broad range of connected devices in the digital economy.” 

“FinTechs are a dynamic and growing sector of our economy, and of crucial importance in the payments space. eftpos is proud to be a market leader in developing digital payments solutions in collaboration with Australian FinTechs, with one example our card-linked offers loyalty solution with Verrency,” Mr Tabell said.

CEO of Paypa Plane and Chair of FinTech Australia, Simone Joyce said the eftpos FinTech Advisory Committee enabled productive, honest and fruitful discussions, resulting in a suite of insightful recommendations.

“It was inspiring to see representatives from the Fintech Community come together as part of the eftpos Fintech Advisory committee with a common set of goals in mind - including supporting a digitally-enabled future for payment systems and creating an accessible, competitive and collaborative innovation environment," Ms Joyce said.

Report recommendations included continuation of the Committee for another 12 months to deepen relationships and the exchange of ideas, closer engagement in the drafting of new eftpos rules for both traditional processing and new eftpos businesses, and exploring options to streamline sponsorship arrangements to enable better access for FinTechs.

Additional recommendations in the report include exploring existing and emerging technologies to create new digitised mobile initiated payment experiences, establishing dedicated eftpos relationship managers for FinTech partners and consultation with the Committee on future eftpos API strategy planning and the eftpos Board regarding key recommendations.

The following ten leading FinTech companies joined the eftpos FinTech Advisory Committee, meeting over five months and whose collective contributions helped create the initial report.

Assembly Payments Azupay Bleu Ezypay Meeco
Monoova Paypa Plane POLi Sniip Verrency


Download the eftpos Fintech Advisory Committee Report July 2021 here



Innovating on Australia’s domestic card payments rails

Sometimes the most remarkable innovations are built on foundations that have existed for many years – creating new and compelling propositions for consumers and businesses, and driving flourishing new ventures.

We have seen this time and time again with the internet, where the foundations that were started back in the 1960s continue to inspire some of the most compelling network innovations that drive our economy today.

So too in payments, our emerging FinTech community has huge potential to innovate on top of Australia’s existing card payment rails to create inspiring customer propositions, incorporating multiple layers such as mobile apps, digital identity, data and payments via APIs.

That’s because traditional payment rails built out over more than three decades, across millions of cardholders and hundreds of thousands of merchant locations in store and online, have the capacity to be expanded by innovative thinkers and new technology. 

One only needs to look around to see these types of innovation taking place with the rise of BNPL, Apple Pay, Google Pay and the like, which all operate on existing card payment rails.

As younger generations shift away from the credit card products of their parents’ generation, the card payment platforms themselves remain as prevalent and more popular than ever before.

Debit card platforms are by far the most frequently used means of transacting in the economy and Australians most preferred way to pay, whether that be online, on mobile or in store.

And debit card platforms along with their operational systems provide the potential for FinTechs to use these ubiquitous networks for other purposes such as data products and digital identity solutions to keep people safe in the Digital economy.

FinTechs are only limited by their imagination of what could be possible, in fact card payment rails can be used for other transactions and value exchanges than just payments, for example digital receipts and warranty, and loyalty redemption and offers.

In Australia, we are extremely lucky to have access to robust domestic payments networks like eftpos, providing secure low-cost access for innovations such as Beem It and eftpos’ digital identity solution, connectID. But there is far more potential.

Norway’s Vipps mobile app, demonstrates how one local version can take off as an alternative to global Big Tech. Serving as a great example of innovation flourishing on top of a domestic card network’s rails with support from the local industry, for the benefit of customers.

Australians love of debit cards has transitioned into the mobile environment as people have provisioned their physical cards into mobile apps and use contactless and mobile payments more since COVID-19.

The move to mobile looks set to continue along with the rise of digital wallets and everything they are capable of beyond the payment mechanism, and in store mobile initiated transactions as the most common types of contactless forms of paying.  

Australians are already using digital wallets to pay for everyday expenses, and we recognise the growth opportunities are linked to how the value-added services that wrap around the digitised payment are achieved which is where FinTechs come into their own.

Now is the time to re-imagine the Australian payment experience with FinTech partners, by exploring existing technologies available through mobile devices such as Bluetooth, QR codes and other alternatives, while businesses look to implement new digital innovations to improve efficiency and create better customer experiences.

eftpos is in the process of transitioning from a card present retail business to be a major player at the centre of Australian digital commerce.

Though the eftpos network, FinTechs have the ability to access 51 million Australian eftpos-enabled proprietary, multi-network debit and multi-network credit cards, as well as access to hundreds and thousands of merchants nation-wide. 

eftpos’ expertise as a trusted Australian payments scheme, means that we can seamlessly combine identity and payments transactions within the same flow. Opportunities for deeper integration between payments and identity management processes will create even better customer experiences while reducing opportunities for fraud. 

eftpos’ connectID will be a key component of the new economic infrastructure that will transform the way we manage identity in Australia.

We are transforming the payment experience of tomorrow with a shift from payment transactions to digital customer experiences, supporting the needs of Australian consumers and merchants.

FinTechs are a dynamic and growing sector of our economy, and of crucial importance in the payments space. eftpos is proud to be a market leader in developing digital payments solutions in collaboration with Australian FinTechs.

eftpos is for Australians. Always.

Stephen Benton_preview

Proposed changes outlined in RBA Review of Retail Payments Regulation

The RBA has released a report that highlights issues in the market that may have significant impacts on choice for consumers and merchants, as well as competition, and potentially add cost to day to day shopping.

As outlined in the May edition of the Networker, eftpos fully understands the importance of its role as an essential part of the national payments infrastructure. We remain committed to providing efficient, cost-effective and market-specific payments solutions for the benefit of all Australians and enhance productivity across the economy.

We will work with the RBA and other industry stakeholders to get the best outcome for Australian merchants and consumers on these important issues.

The basic requirement is that eftpos as a payment option is left on all Australian debit cards as part of every bank’s social obligations in the Australian market. This is fundamental in underpinning choice for consumers, including on mobile, in digital channels like Beem It and online in the very near future.

We are also working very closely with the small business community and FinTech providers who want to innovate and who share eftpos’ unbridled passion for competition, choice and enhanced digital payments functionality to ensure we get the best possible outcomes.

At a time when people are using debit more and credit cards less so they can better manage their money, regulation is needed to ensure Australians have full access to their country’s local debit network – in shops, on mobile and online.


eftpos’ digital identity solution connectID is now live

The eftpos Group today announced that its new digital identity solution business, connectID, is now live and running as a standalone FinTech and fully owned eftpos subsidiary.

eftpos began its new digital identity solution mid last year, aiming to make it easier for Australians to share, store and receive personal identity information online.

As part of the move, eftpos also revealed it was working with SecureKey to develop the technology. SecureKey is a leading global identity and authentication company that has a proven track record in comparable markets such as Canada.

eftpos CEO Stephen Benton said with connectID going live, the focus was now on expanding the range of partner organisations and applications while harnessing synergies and capabilities across the eftpos Group of businesses.

“For the connectID business to keep advancing and growing, it needs to keep running like a nimble FinTech at an operational level to pursue its goal of creating a national identity infrastructure for all Australians,” Mr Benton said.

“connectID is collaboratively working with governments, businesses, online merchants, banks and other identity providers with a view to building identity into our national payments infrastructure, as well as other commercial applications for all Australians and Australian businesses.”

eftpos’ connectID is a ‘broker’ between identity providers, organisations that securely hold identity data on behalf of their customers, and merchants or government departments that need to verify who they are dealing with or receive identity information that they can trust. eftpos is uniquely placed to offer this service, particularly for interactions requiring a payment.

Rob Allen, eftpos Entrepreneur in Residence, has spearheaded the connectID initiative since the beginning said we are bringing that same trusted capability that eftpos has in payments into identity, by building and subsequently operating national digital identity infrastructure.

“In Australia there is a real need to facilitate identity verification methods to help reduce the instances of fraud and identity theft, and improve ‘digital trust’ between customers and vendors. We aim to seamlessly combine identity and payments transactions within the same flow and create even better customer experiences,” Mr Allen said.

Greg Wolfond, founder and CEO of SecureKey, said he was thrilled its technology was being integrated by eftpos to power its connectID service in Australia.

“As digital identity standards and ecosystems rapidly develop and evolve, ensuring the security of users’ information while enabling the convenience of this technology remains a top priority. eftpos in Australia and the industry in Canada, have both demonstrated a particularly strong appetite for its widespread use as the two economies emerge from the global pandemic,” Mr Wolfond said.

While connectID securely facilitates the identity verification or data exchange, it does not store the identity data. Identity service providers store consumer identities and take responsibility for providing this secure information only under the consent of the identity owner.

connectID has applied to become the first non-government accredited operator of a digital identity exchange in Australia. As interoperability is key to the connectID solution, it is designed to work within the Federal Government’s Trusted Digital Identity Framework (TDIF) and the financial industry’s TrustID framework, as well as emerging international standards in distributed digital identity credentials.



Influencing and partnering to deliver Australia’s digital future

eftpos General Counsel and Company Secretary Robyn Sanders explains how eftpos innovations and thought leadership collaborations with key stakeholders, are helping deliver Australia’s digital future in step with the Federal Government’s Digital Economy Strategy.

In previous editions of the Networker we have shared our Product Roadmap 2021 Update, which outlined how eftpos aims to drive payments competition and improve consumer experiences in Australia’s fast-growing digital economy.

Last month our CIO Ben Tabell explained how eftpos enables both real time payments for business and consumers across the Australian economy and is a company at the forefront of multiple leading edge initiatives.

With its role as a mutual and the only Australian-owned separately designated payments system, we focus in this edition on how eftpos is actively collaborating with its Members, policy makers and regulators, merchant groups and small businesses to shape Australia’s digital future, fulfilling our purpose to “do good for Australia”.

The recent Federal Budget outlines the policies and actions the Government is taking to make Australia a modern and leading digital economy by 2030.

The Budget outlined several announcements and key investment areas directly relevant to eftpos including the Digital Economy, Digital Identity, review of the Australian payments system, e-invoices, and support for FinTech’s and Digital SME’s, which are also summarised separately in this edition of the Networker.

eftpos is actively making submissions into numerous government and regulatory reviews, issues papers and inquiries that will have significant bearing on how Australia’s digital future is shaped, and the ability of Australia’s businesses to compete with Big Tech.

Mobile Payment and Digital Wallets

The Parliamentary Joint Committee Inquiry into Mobile Payment and Digital Wallet Financial Services focuses in on an area where eftpos can assist the Australian finance sector and broader economy to thrive and grow.

Through a combination of eftpos’ low cost access, mobile payments capability, ability to issue tokens, work with industry on real time digital payments and a ubiquitous Digital Identity solution, there is potential to bring many FinTech solutions to life, particularly in the mobile payments space.

eftpos is wallet agnostic and will work with FinTech’s and other digital partners to offer a fully digitised payments rail that supports a variety of competing digital wallets and other digital applications to encourage further innovation.

Recent figures show significant uptick in digital wallet usage with the likelihood of this becoming the most popular contactless way to pay in-store in less than a year.

Despite the Reserve Bank’s stated objective to enable Least Cost Routing through dual network debit cards in Australia in order to reduce merchant costs, this capability is currently not available for Mobile Point of Sale Payments (mobile), or mobile in app payments. This needs to be addressed as a matter of priority and appears to be a focus for RBA in its preliminary assessment issued 28 May that at least some issuers should be expected to continue to issue dual network debit cards with access to both networks in all relevant form factors (including mobile wallets).

eftpos has invested deeply in the mobile ecosystem, having purchased Beem It which was recently selected to build eftpos' QR code utility. While Beem It is building the infrastructure needed, eftpos continues to remain wallet and partner agnostic, and open to partnering with all FinTech’s.

Payments System and Regulation Reviews

Getting the regulatory architecture right will set Australia up for success in the digital economy for the short term and in years to come.

Substandard regulatory architecture has the potential to stall technologically driven innovation and stymie future competition, efficiencies and enhanced end user outcomes.

The aim of the Treasury Department’s Payments System Review is to ensure that the future regulatory architecture is fit-for-purpose and responsive to advances in payments technology and changes in consumer demand.

The regulatory architecture needs to address gaps, including the need to enshrine competition, choice and transparency as fundamental principles in order to drive better cost of payments outcomes, innovation and productivity benefits.

There is a need for clear rules around multi-network card/account access in all channels and form factors to ensure competition is maintained, and a requirement to make Least Cost Routing available on an opt out basis to ensure that the benefits it brings to Australian small business are realised quickly across all payment channels.

eftpos is currently reviewing the RBA consultation paper on the Review of Retail Payments Regulation released on 28 May, seeking stakeholder views on preliminary conclusions, and plans to respond to the Consultation ahead of the 9 July 2021 deadline.

eftpos believes the RBA has a great opportunity to ensure competition, provide greater transparency and simplicity of pricing for better consumer and merchant outcomes; and correct a trend for international interests to take unregulated positions that are ultimately detrimental to the industry and broader economy.

For example, the RBA had the best interests of the broader community and economy at heart when emphasising the right of merchants to control their cost by using the least cost routing (LCR) rails in 2013 and, although LCR has not yet been as successful as intended, there are various actions outlined by eftpos in its submission response that the RBA could still take to make it work better to achieve the regulatory intent.


As with previous issues papers by the Senate Select Committee on Australia as a Technology and Financial Centre, eftpos will respond to the upcoming third issues paper, which is looking into ways for the FinTech community to gain greater access to the real time payments system.

This issue, along with others has been discussed amongst members of the eftpos Fintech Advisory Committee, with the Committee set to deliver recommendations on how FinTech’s can access and leverage the eftpos payments network for the betterment of Australia’s digital economy.

In summary, eftpos fully understands the importance of its role as an essential part of the national payments infrastructure. We remain committed to providing efficient, cost-effective and market-specific payments solutions for the benefit of all Australians and enhance productivity across the economy.

Robyn Sanders Header Image
Robyn Sanders thumbnail

2021-22 Federal Budget strategy and key areas of importance for eftpos

The recent 2021-22 Federal Budget strategy outlines the policies and actions the Government is taking to grow Australia’s future as a modern and leading digital economy by 2030, including an expansion of the Government's Digital Identity system.

There are several specific announcements and key investment areas directly relevant to eftpos including the Digital Economy, Digital Identity, review of the Australian payments system, e-invoices, and support for FinTech’s and Digital SME’s.

With the focus firmly on ‘securing Australia’s recovery’, economic indicators report the Australian economy has recovered strongly and is set to return to pre-pandemic levels earlier than expected.

The Federal Budget plan and almost $1.2 billion in investments are aimed to continue to secure the recovery by creating jobs, guaranteeing essential services and building a more resilient and secure Australia.

Budget measures to support those elements of the Digital Economy Strategy directly relevant to eftpos include the following -

1. Accelerating the adoption of e-invoicing across government and businesses

  • e-Invoicing is the digital exchange of invoices directly between the accounting systems of a buyer and a supplier that can deliver around $20 of savings every time an e-Invoice replaces a traditional invoice.

2. Strengthen Australia's national system of identity settings

  • The Digital Identity system will enable more secure and convenient engagement with government services, and in future, the private sector.
  • The Government will progress legislation to enable the rollout of the Trusted Digital Identity Framework which sets out the rules for the national digital identity scheme. The legislation will embed privacy, security and fraud prevention mechanisms to build trust and confidence by those who choose to participate.

3. Review of the Australian payments system

  • Ensuring that the regulatory architecture can support, accommodate and respond to advances in payments technology.
  • Continued innovation of this key economic infrastructure will be central to lowering transaction costs, improving safety and reducing the cost to doing business.

4. Supporting Digital SMEs

  • Over the next decade, the Government will focus on lifting digital capability and adoption of digital technology for SME’s across the economy to support new ways to work and do business, increasing profitability and saving time.

5. Supporting Fintechs

  • Building on Australia’s strong financial services foundations, the Australian Government is providing a supportive policy environment that will allow the fintech sector to grow.
Josh Frydenburg
Josh Frydenburg

eftpos hosts FinTech collaboration at Intersekt

This month eftpos hosted one of its recent FinTech collaborations at Intersekt, courtesy of FinTech Australia.

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.

Key discussions amongst members of the eftpos Fintech Advisory Committee included recommendations on how FinTech’s can access and leverage the eftpos payments network for the betterment of Australia’s digital economy alongside other recommendations.

As with previous issues papers published by the Senate Select Committee on Australia as a Technology and Financial Centre, eftpos will respond to the upcoming third issues paper, which is also looking into ways for the FinTech community to gain greater access to the real time payments system.

During the conference, eftpos’ CIO Ben Tabell took 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.

Collaboration meeting
Image of key meeting

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.”

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beem it on mobile phone