PayPal, eftpos join forces
(26 November 2015 – Australia) Consumers will be able to make real-time transactions on PayPal through eftpos’ local network, the duo announced this week.
The US based digital payments provider has become an eftpos member and plans to connect directly to the new centralised payments infrastructure, the eftpos Hub next year.
The eftpos Hub, which was launched in September in 2014, is a secure and scalable centralised infrastructure that aims to provide the industry with cost effective, real time payments processing, as well as an enhanced capability to implement new products and services.
Eftpos managing director, Bruce Mansfield, said "We are very pleased that PayPal has decided to join Eftpos and directly access the real-time processing capabilities of the Eftpos hub infrastructure and other benefits of being a member."
PayPal joins ING Direct, Tyro and Adyen as the fourth eftpos Member to since the formation of eftpos as a payment system in 2009.
PayPal Australia vice president and managing director, Libby Roy, added: “Our membership of eftpos takes us one step closer to giving consumers the ability to use any funding mechanism through PayPal to transact securely and conveniently online and via mobile devices.”
Subscribe