eftpos to provide contactless mobile payments
(19 October 2015 – Australia) eftpos has enlisted U.S. company Bell ID to help build a mobile payments capability that uses secure tokenisation services.
The technology will allow eftpos customers to make contactless debit payments from their smartphones, and is expected to roll out by May 2016, initially at Coles and Woolworths.
eftpos managing director, Bruce Mansfield, said the new capability would enable eftpos payments to be made securely across various digital platforms and applications being developed by Australian industry participants.
“This new capability will enhance competition in the Australian mobile payments market and help eftpos meet the growing needs of this rapidly changing area of payments technology. It will also provide the Australian industry with the choice of a domestic, secure tokenisation service,” Mansfield said.
Tokenisation provides added security by giving eftpos the ability to replace card numbers with another security number, meaning that the information cannot be compromised.
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