The two firms in question are eftpos and Bell ID, which hope for a flexible new transaction capability.
Eftpos, a company from Australia has now announced a partnership with a Dutch company called Bell ID in order to develop a domestic mobile payments capability that will use secure tokenization and will still remain notably flexible.
The purpose of this new partnership is to help to make eftpos smartphone payments available across digital platforms.
Bruce Mansfield, the managing director of eftpos explained that the new capability that will be developed through this partnership will make it possible for eftpos mobile payments to be securely available through a range of different apps and platforms that are in the making among a number of participants in the Australian industry. Mansfield said that the capability will suit the centralized payments processing core of eftpos, known as the “eftpos Hub”. That Hub is already due for an upgrade for compatibility with online payments at some point in October, and will upgrade again in order to be compatible with tokenization early next year.
Now, Bell ID will become a part of the advancement of mobile payments in Australia’s eftpos Hub.
The eftpos Hub in Australia is a centralized switch which offers the country’s industry with a payments processing platform that works in real time and that offers the capability for the implementation of new forms of product and service. The Hub was initially launched last year in September. Since that time, it has reached an average 2 million checking and savings based transactions per day, according to the figures released by the company itself.
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Following the announcement, Pat Curran, the Bell ID executive chairman at Bell ID, said that “Bell ID is excited to partner with eftpos and to contribute to the mobile payments advancement in Australia.” He also added that “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.”
The partnership will help the market in Australia to adapt to the evolving digital and mobile payments ecosystem.