The online security capability brings designed to keep Australians safe in the digital economy, including two factor authentication capability for merchants and their customers.
According to eftpos, its new sovereign debit scheme online follows the Reserve Bank of Australia’s decision in October 2021 that Australian banks are expected to offer and promote Least Cost Routing (LCR) in online by the end of 2022.
eftpos was already available online for some Card On File payments where banks have implemented the service for their merchant customers, and deposits and withdrawal payments via the Beem It mobile wallet. Since launching the eftpos digital service that enables LCR last year, eftpos claims it has been subject to zero fraud.
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