The first trial will make eftpos online payments available to 350 consumers via a Coles website, in order to test the solution that was developed in consultation with a range of Australian merchants and financial institutions.
eftpos is also working with ANZ Bank and the Commonwealth Bank on various online trials over the following months.
According to the CEO of Eftpos, Bruce Mansfield, the solution provides transaction updates on bank accounts, and the ability for merchants and consumers to set their own limits to trigger additional security features.
eftpos is a debit card system in Australia, accounting for about 70% of debit card transactions. 6 million eftpos transactions are made each day at 500,000 merchants, using 760,000 eftpos terminals.
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