East & Partners

Adyen and eftpos tie in, providing merchants more choice

(1 November 2017 – Australia) eftpos has announced that the US-based payment technology firm, Adyen "had completed its connection to the eftpos payments network and could now offer Australian merchants the ability to accept eftpos CHQ and SAV transactions at Point of Sale (POS)".

Adyen said with this platform choosing to add eftpos, giving merchants and their customers more payment choices.

The US firm, who counts the likes Facebook, Uber, Netflix, Spotify, and L’Oréal as customers, claims it is "the payments platform choice for the world's leading companies" and that it serves “more than 4,500 businesses, including 8 of the 10 largest US Internet companies”.

eftpos acting chief executive Paul Jennings said Adyen was "leveraging the eftpos Hub’s payment processing and settlement capabilities to offer cost efficient, real time eftpos CHQ and SAV transactions to merchants and consumers at POS and, when available, it would also offer eftpos payments on digital channels".

He added, “Adyen provides a global payments solution and it’s important that eftpos CHQ and SAV transactions, as the most widely used debit network in this country, are now available to Adyen’s merchant customers in Australia."

Adyen joined as a member of eftpos in 2015 "with a view to launching eftpos acquiring services and competing in the Australian market".

Michel van Aalten, Adyen country manager of Australia and New Zealand, said that as "a leader in unified commerce, Adyen was delighted to work with eftpos to offer merchants a full range of local cards for point of sale systems in Australia".

Van Aalten added: “The expanded partnership will enable Australian businesses to offer more payment options. By tapping on the same processing platform, fast-growing Australian merchants can also ensure customers enjoy a consistent experience globally."

eftpos says its system is "the most widely used debit card system in Australia, accounting for around two billion CHQ and SAV transactions in 2017 worth A$130 billion".