AP+ Phase Commences for eftpos, NPPA and BPAY
(10 February – 2022 – Australia) The aggregation of eftpos, New Payments Platform Australia (NPPA) and BPAY under their new Australian Payments Plus (AP+) mantle heralds the outset of an exciting new phase in Australian payments.
eftpos Australia CEO Stephen Benton is retiring to assume board and advisory roles with the new incoming CEO for eftpos Australia yet to be announced. The move precedes a new beginning for eftpos Australia and its group of companies progressing with the amalgamation of BPAY, eftpos and NPPA into AP+ first announced in September 2021.
AP+ enables Australia’s leading domestic payment platforms to combine forces to better compete with the growing scale of overseas multinationals such as Visa and MasterCard, with the further aim of reducing costs and enhancing innovation and efficiency.
Former EY Oceania Advisory managing partner and diversity advocate Lynn Kraus has been appointed as the first CEO of Australian Payments Plus.
"An important new chapter in eftpos’ 38-year history is soon to begin with formation of AP+, bringing together three wonderful Australian payments companies, eftpos, BPAY and NPPA. There is strong alignment between AP+’s objectives and eftpos’ purpose of being 'Good For Australia', and a commitment to the delivery of our Roadmap. This alignment should see eftpos continue to drive competition and innovation in debit card payments and digital, while pursuing new opportunities to innovate with other parts of the new AP+ organisation” commented outgoing eftpos Australia CEO Stephen Benton.
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