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eftpos is building a new Australian mobile payments capability, today announcing a partnership with Bell ID, which will include the development of tokenisation services.With the payments landscape changing at pace, eftpos is looking to enable payments across various digital platforms and applications being developed by Australian industry participants.
eftpos states its new mobile payments capability would complement its eftpos Hub centralised payments processing hub launched last year and scheduled to be upgraded for online payments this month along with tokenisation in early 2016.
Tokenisation is the process of replacing the card number with a unique reference number, providing consumers with an additional level of security.
“It’s exciting to be partnering with Bell ID on this important project because they have an excellent international reputation in the dynamic area of mobile payments and tokenisation,” eftpos managing director Bruce Mansfield commented.
“This new capability will enhance competition in the Australian mobile payments market and help eftpos meet the growing needs of this rapidly changing area of payments technology. It will also provide the Australian industry with the choice of a domestic, secure tokenisation service.”
Pat Curran, Bell executive chairman, stated the company is excited “to contribute to the mobile payments advancement in Australia”.
“With our token service provider platform, eftpos has the freedom to integrate any of its members to offer secure tokenisation services and provision tokens to a wide array of mobile form factors and channels,” Curran stated.
“This enables eftpos to adapt to the market’s constantly changing dynamics.”
