Eftpos trials first major change in 25 years
(20 October 2011 – Australia) Eftpos will roll out revamped technology and test it in a pilot program this week with Bendigo and Adelaide Bank Ltd employees.
The technology will allow customers to conduct transactions with mobile phones, contactless terminals and online sources.
The pilot of eftpos cards will be fitted with chip technology to emulate rival offerings as more shoppers turn to debit and credit cards to make cashless transactions.
While eftpos accounts for a massive 85 per cent of all debit payments in Australia, the makeover pits the local payment system more directly against international goliaths MasterCard and Visa in what is becoming an increasingly competitive sector.
The latest application is the first major change to eftpos’s functionality in 25 years, and follows a multi-million-dollar advertising campaign to reposition the brand as 'the payment method of choice for small, everyday purchases".
EPAL - the consortium that owns eftpos - announced the plans as part of the measures to strengthen the competitiveness of the eftpos system.
The pilot of eftpos cards will be fitted with chip technology to emulate rival offerings as more shoppers turn to debit and credit cards to make cashless transactions.
While eftpos accounts for a massive 85 per cent of all debit payments in Australia, the makeover pits the local payment system more directly against international goliaths MasterCard and Visa in what is becoming an increasingly competitive sector.
The latest application is the first major change to eftpos’s functionality in 25 years, and follows a multi-million-dollar advertising campaign to reposition the brand as 'the payment method of choice for small, everyday purchases".
EPAL - the consortium that owns eftpos - announced the plans as part of the measures to strengthen the competitiveness of the eftpos system.
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