Eftpos launches online payment trial with Coles' supermarkets

Eftpos launches online payment trial with Coles' supermarkets

Eftpos is also working with ANZ and the Commonwealth Bank on various online trials

Eftpos has launched the first of its new online payments trials as part of its bid to offer a secure and affordable online payments option for Australian businesses and consumers.

The first trial will make eftpos online payments available to 350 consumers via a Coles website, in order to test the solution that was developed in consultation with a wide range of Australian merchants and financial institutions over the past eight months.

Eftpos is also working with ANZ Bank and the Commonwealth Bank on various online trials over coming months.

Eftpos chief executive, Bruce Mansfield, said the eftpos solution provided a number of benefits, including real-time transaction updates on bank accounts, and the ability for merchants and consumers to set their own limits to trigger additional security features.

He said the trial solution was a secure approach to digital payments for eftpos, where no card details were exchanged between consumer and merchant.

“While eftpos is the most widely used debit card system in Australia at point of sale, we are now moving into the digital world with online payments,” he said.

“These trials are about finding the best online experience for Australian merchants and consumers and offering them a new payments choice that has been specifically designed for this market.

"I expect more trials to follow soon, ahead of commercialisation in 2015. “

Coles general manager, financial services, Richard Wormald, said Coles was excited to support the eftpos online trial, as it provided customers with an alternative way to pay that is affordable, secure and easy to use.

Seamless and secure

ANZ general manager cards and payments, Marj Demmer, said customers and merchants were changing the way they wanted to make and receive payments.

"They're looking for a seamless and secure digital experience, and eftpos' new online payments trial is an important part of the industry's response to providing a range of suitable options," she said.

Commonwealth Bank executive general manager cards, payments, analytics and strategy, Angus Sullivan, the company was excited to be part of the eftpos innovation journey.

"This initiative will create opportunities for CommBank’s retail customers and merchants to utilise and embrace the latest ideas and technology in Australian payments,” he said.

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Tags Financial ServicesPaymentsBruce MansfieldRichard WormaldColes general managerAngus Sullivananalytics and strategyANZ general manager cards and paymentsMarj DemmerEftpos chief executiveCommonwealth Bank executive general manager cards

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