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 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.


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

Australia’s eftpos joins Hedera Governing Council

eftpos today announced it has joined the Hedera Governing Council and will run the country’s first Hedera network node this year.

Designed to be the most decentralised governance model for a public ledger, the Hedera Governing Council includes a group of highly diversified enterprises and organisations overseeing 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) and access to content streamed over the internet.

eftpos CEO, Stephen Benton, said eftpos joined the Council after a number of successful proofs of concept last year, and it aimed to enhance the company’s digital payments innovation strategy to better meet Australians’ payment needs into the future.

“By joining the Hedera Governing Council and running the Australian node, alongside some of the world’s largest and most influential companies, we are excited to participate in the development of next-generation micropayments technology that has the potential to open up entirely new ways of conducting business for Australian enterprises and enable compelling new experiences for Australian consumers.

“For example, in a world of fast paced technology change, low cost micropayments to pay for internet content or tiny payments for device to device transactions.”

The eftpos digital strategy was devised with an Australian focus, creating world-class innovations to compete with global payments players. The digital strategy has five key elements:

  • Mobile Wallets including Beem It
  • eCommerce Digital identity, using connectID
  • Fintech ecosystem access National QR code payments rollout.

The initial objective of the micropayments proof of concepts, led by eftpos Entrepreneur in Residence, Rob Allen, was to investigate ways to create a seamless, sub-cent micropayments experience as an alternative to traditional online paywalls and subscriptions in the digital world.

“By combining the new eftpos API infrastructure with a consumer wallet-based experience, digital identity, and an AUD-based stablecoin using Hedera’s superfast, secure and low-cost distributed network, the PoC’s objective was demonstrably achieved,” Mr Allen said.

“Use cases like this simply are not possible on other public blockchains. Along with several partners, we are now exploring a variety of use cases that this combination of technologies enables and the options to commercialise them.

“Being on the Hedera Governing Council will provide us with the combined technical insight of all the Council members as well as a unique global perspective to improve our speed to market.”

Mance Harmon, CEO and co-founder of Hedera Hashgraph, said, “As Australia’s debit card system operator, eftpos is a critical component of the country’s financial infrastructure, processing over 2 billion transactions in 2020 worth an average of more than $300 million each day. We are pleased that they have joined the Hedera Governing Council as part of their new Australia-first digital product strategy. We look forward to their collaboration with other Council members and participants of the Hedera ecosystem to help make micropayments and other innovative financial models a reality for millions of consumers and billions of IOT devices.”

As the 17th Council member, eftpos joins a growing network of large enterprises, including Avery Dennison, Boeing, Dentons, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group.

Members of the Hedera Governing Council are responsible for running the initial nodes of the Hedera network, as well as guiding both strategy and software development, over a maximum of two consecutive three-year terms.

This contributes to stability and is conducive to maintaining diversity and decentralisation of the public network. Hedera Hashgraph’s node policy and codebase are undergoing continuous updates, to which Council members will contribute, supporting a governance model that eliminates the risk of forks, provides safeguards for users, and preserve the integrity of the Hedera network.

For more information, visit

About Hedera

Hedera Hashgraph is a decentralised public network on which developers can build secure, fair applications with near real-time finality. The platform is owned and governed by a council of the world’s leading organisations including Avery Dennison, Boeing, Dentons, Deutsche Telekom, DLA Piper, eftpos, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group.

For more information, visit, or follow us on Twitter at @hashgraph, Telegram at, or Discord at The Hedera whitepaper can be found at


eftpos signs deal to buy Beem It

Australia’s debit payments company, eftpos, today announced it had 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.

eftpos CEO, Stephen Benton, said the signing was a logical move for eftpos 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.

“We are very excited to complete this purchase as a key element to eftpos’ strategy to diversify and move further into the digital ecosystem,” Mr Benton said.

“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. It’s easy to use, secure and free to download.

“In many countries, mobile wallets are the main App for day to day life, particularly throughout Asia and the Nordics. These Apps make life easier and add value, seamlessly and securely.

“eftpos the payment system will remain wallet agnostic and be the rails that support a variety of digital wallets.”

As at the end of August 2020, there had been 1.4 million downloads of the Beem It App, with ratings remaining consistently high, up to 4.9 out of 5.

Mr Benton said that looking forward, Beem It, along with other eftpos assets such as its digital identity solution, connectID, could be utilised to create compelling innovations for consumers, merchants and banks to enhance digital commerce while leveraging existing industry investments.

A spokesperson for the sellers said: “Today’s announcement marks a significant step forward for the future development of Beem It and the expansion in the use of digital wallets as a whole in Australia. Since its launch as a start-up business just two years ago, Beem It has proved to be extremely popular with over one million downloads and hundreds of thousands of regular users, particularly its instant payment, split bill and expenses tracking features.

“Its innovative technology is a formative example of the creative ideas and opportunities that have opened up in the area of Australian payments in recent years and we’ve been delighted to support the company in offering exciting new ways to consumers to pay and transact. Under its new owner, Beem It will be able to take full advantage of the infrastructure, cost benefits and partnerships offered by eftpos which will help it grow faster and expand the innovative services it currently provides. We believe this transaction will secure Beem It’s future as a leading digital wallet provider and we wish the company and its team the very best for the future.”