CBA turns EFTPOS terminals in ‘virtual stores’
(Australia) Retailers can now generate extra sales of electronic products from their EFTPOS terminals following the roll-out of the Commonwealth Bank’s XPOS system.
According to the bank, the system will enable merchants to transform their terminals into a "virtual store" and sell products such as cinema tickets, electronic gift cards, pre-paid mobile recharge and tolling passes.
Products will be delivered through the bank’s 90,000 strong terminal network in the form of a printable voucher or magnetic strip card.
The system will allow retailers to cut up-front capital costs and stock as products will no longer need to be physically held in stores.
CBA executive general manager, Working Capital Services, Bruce Munro said XPOS was "the most comprehensive and affordable electronic service delivery solution on the Australian market".
"Imagine being able to buy a cinema ticket at your local newsagent, pharmacy, florist, supermarket or service station," he said.
He said consumers could now buy everyday products and services that were previously available only from dedicated outlets, as part of their normal shopping routine.
"As part of the XPOS offering the Commonwealth Bank will also be introducing a bill payment facility, providing a convenient one stop experience for customers wanting to pay their bills over the counter," Munro said.
Products will be delivered through the bank’s 90,000 strong terminal network in the form of a printable voucher or magnetic strip card.
The system will allow retailers to cut up-front capital costs and stock as products will no longer need to be physically held in stores.
CBA executive general manager, Working Capital Services, Bruce Munro said XPOS was "the most comprehensive and affordable electronic service delivery solution on the Australian market".
"Imagine being able to buy a cinema ticket at your local newsagent, pharmacy, florist, supermarket or service station," he said.
He said consumers could now buy everyday products and services that were previously available only from dedicated outlets, as part of their normal shopping routine.
"As part of the XPOS offering the Commonwealth Bank will also be introducing a bill payment facility, providing a convenient one stop experience for customers wanting to pay their bills over the counter," Munro said.
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