Facebook Messenger screenshots hint at P2P payments

Nice move on Messenger, Facebook! In Australia, all Eftpos cards that are bank owned will function like a contactless card without a Visa or MasterCard logo on it. Australia's banks own the Eftpos system and they have spent $50 million on a new centralised hub or processing centre, which has taken two years to complete. Contactless cards have had an excellent take-up of use in Australia and this is a project that the banks have undertaken in order to capture some of this contactless market for card fees from credit card companies and PayPal. Eftpos cards that have the RFID chip in it will be available before Christmas, and will have access to the internet and mobile phone by the middle of next year. The list of banks that are already connected are Bendigo & Adelaide bank, ING Direct, Suncorp bank, and Strategic Payment Services. ANZ will follow later in the year along with the other major banks. The supermarket giants in Australia, Coles and Woolworths will join in 2015. According to ANZ's general manager of deposits and mortgages, Mr. Brad Gravell, the new hub 'will help deliver industry leading functionality and security with processing Eftpos transactions.' All aspects and issues connected to payments have been elevated to board level in all major banks. The strategy that is increasingly used is based on trying to serve all customers with better digital and payment experiences.

http://www.smh.com.au/business/banking-and-finance/eftpos-plays-catchup-with-tap-and-go-now-ready-for-christmas-20141001-10oubw.html