Eftpos, Australia's national debit card scheme, has announced details for a QR code payments network rollout covering online, mobile and high street transactions.
Eftpos aims to have the QR code payments network in trial by mid-year, with a national rollout expected to be completed in 2022.
CEO Stephen Benton says the move coincides with growing Australian familiarity with QR codes through daily interactions with Covide-19 check ins.
“The QR code payments network will enable local home-grown innovation by connecting numerous APIs, consumer digital wallets, and supporting technologies on top of the existing eftpos network rails, providing choice and potential cost savings for local businesses,” he says.
Separately, the company also launched a new real-time deposit and withdrawal messaging capability through the Beem It mobile wallet, which it acquired in November last year.
Says Benton: “Deposit and Withdrawal allows Beem It to use eftpos on the end-to-end P2P transaction between Australian multi-network debit cardholders - initiating the payment from the payer’s bank account, and depositing the funds to the payee’s bank account in seconds.”