Eftpos to enable Tap & Pay to cash in on public transport market

Wednesday 26 September 2018 10:42 CET | News

Eftpos has announced that it will fast track its Tap & Pay technology on public transport in Australia.

The company has stood up a dedicated technical and business team to complete the capability rollout to financial institutions across Australia by April 2019. According to ZDNet, the company is also in talks with a number of other state governments.

The new transport team would also focus on rolling out Eftpos Tap & Pay to other types of unattended payment devices, such as parking meters and vending machines.

Australia has one of the highest usage rates of contactless payments, according to Mastercard, which reports that its PayPass tap-and-go functionality is used in around 80% of face-to-face transactions. In addition, the country has one of the highest concentrations of point-of-sale devices in the world, with 960,000 Eftpos terminals.

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Keywords: eftpos, Tap & Pay, cash, payments, Australia, MasterCard
Countries: World