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Eftpos companions with main Aussie banks and retailers to launch QR code funds platform

Picture: Eftpos

Eftpos has partnered with Commonwealth Financial institution of Australia, Nationwide Australia Financial institution, Coles, Woolworths, Azupay, Beem It, and Service provider Warrior to launch its new QR code funds platform it is calling eQR.

To start rolling out as a brand new client cost choice earlier than Christmas, eQR has been described by Eftpos CEO Stephen Benton as a system that may develop into the “QR equal” of the corporate’s faucet and pay function on its debit playing cards. 

“The eQR platform goals to supply higher experiences for shoppers and retailers by means of added safety, loyalty, provides and digital receipts, regardless of the place they select to buy — on-line, on their cell or on the checkout,” he stated.

Eftpos completed the first stage of the build of the brand new QR code cost infrastructure in July, and is currently trialling it with “a number of” Australian retailers.

Eftpos is hoping client familiarity with QR codes by means of COVID secure practices the previous 12 months will assist with uptake.

“COVID has modified buyer behaviour and Australians at the moment are prepared for the improved cost expertise provided by eQR,” Benton stated.

Moreover funds, Benton has beforehand stated the platform would even be constructed out to incorporate different experiences, together with loyalty, redemption, splitting funds, and storing digital warranties, and digital receipts.

Coles has already signalled plans that it’ll combine eQR to its different features.

“Coles is trying ahead to working with Eftpos to enhance the client expertise when utilizing eQR to make a cost in our shops and linking this to different features equivalent to loyalty,” Coles monetary companies basic supervisor Paul Askew stated.


Eftpos granted government accreditation as first private ID exchange operator

Eftpos connectID can now facilitate on-line transactions requiring a digital id from Australians.

ACCC gives green light to Eftpos’ merger with BPay and NPPA

Watchdog chair doesn’t think about the merger of Eftpos, BPay, and NPPA to be one thing that may considerably reduce competitors in any funds market and has accepted a court-enforceable endeavor put ahead by the events.

Eftpos uses Beem It acquisition to build out QR payment system

The brand new nationwide QR code utility is pencilled in for July go-live, with rollout completion anticipated by subsequent 12 months.


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