The service aims to allow merchants to process regular card-on-file payments. Almost 40 Australian banks, including Suncorp, have already signed up for the service, which will mean their cards can be processed through Eftpos' digital payment system, ZDNet reports.
In July 2020, the company announced it had teamed up with distributed ledger company Hedera Hashgraph to develop a micropayments proof-of-concept, hoping it could be used as an alternative payment to monthly subscriptions or paywalls.
The proof-of-concept was built using the Hedera Consensus distributed public ledger service that allows consumers to load their digital wallet with a few dollars to make an online micropayment, instead of paying for a monthly subscription.
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