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AP+ partners with Google to provide EFTPOS functionality and LCR on Google Wallets

Thursday 6 March 2025 10:31 CET | News

Australian Payments Plus (AP+) has started a collaboration with Google to launch EFTPOS functionality and Least Cost Routing (LCR) on transactions conducted through Google Wallet. 

Through this move, AP+ and Google intend to enable merchants to choose to have more payments routed through the lower-cost EFTPOS network. Among the first issuers to go live with EFTPOS multi-network debit cards in the Google Wallet are ANZ and Suncorp Bank, with plans to include other issuers throughout 2025. With multi-network debit cards, payments can be processed either via the EFTPOS network or through one of the international debit networks like Mastercard or Visa.

AP+ partners with Google to provide EFTPOS functionality and LCR on Google Wallets

The news follows AP+’s announcement from June 2024, when the company made its ConnectID service available to ANZ Plus customers. The partnership allowed ANZ to solidify its security features for its ANZ Plus customers by reducing data sharing and safeguarding customers against identity theft and fraud. Additionally, the move mitigated the need for proof of identity documents, instead allowing ANZ Plus customers to ask a participating business to authenticate them by utilising the information they already trusted ANZ Plus to oversee.

AP+ and Google’s collaboration

AP+ started introducing LCR across selected mobile wallets in 2024, however, as of the announcement, ANZ and Suncorp Bank Visa debit cards added into the Google Wallet are set to have LCR enabled. The onboarding of the remaining issuers will continue over the course of 2025. Also, the continued launch of LCR to mobile wallets comes as part of AP+’s efforts to minimise the cost of payments. As part of this, the company also reduced EFTPOS interchange rates for eligible small business merchants in December 2024 and in May 2025, it plans to minimise issuer scheme fees by 22% and acquirer scheme fees by 5%. Commenting on the news, representatives from AP+ underlined their company’s commitment to decreasing the wholesale cost of payments across its payment schemes. AP+ intends to develop a competitive payment system that serves the needs, demands, and preferences of businesses and consumers in Australia.

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Keywords: partnership, eftpos, debit card, financial services, digital payments
Categories: Payments & Commerce
Companies: Australian Payments Plus, Google Wallet
Countries: Australia
This article is part of category

Payments & Commerce

Australian Payments Plus

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Google Wallet

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