Digital payments provider, PayPal has become an eftpos member and plans to connect directly to the new real-time, centralised payments infrastructure, the eftpos Hub in 2016.
The eftpos Hub, which was launched in September last year, is a secure and scalable centralised infrastructure that aims to provide the industry with cost effective, real time payments processing, as well as an enhanced capability to implement new products and services.
eftpos managing director, Bruce Mansfield, said it recently upgraded its infrastructure for online payments, and would work with PayPal and other members to ensure it would be available to consumers and merchants as a payment option for online transactions.
PayPal is the fourth new eftpos Member to join since the inception of eftpos as a payment system in 2009, following ING Direct, Tyro and Adyen.
PayPal Australia vice president and managing director, Libby Roy, said eftpos was an established and important part of the payments landscape in Australia with a strong consumer base.
“Our membership of eftpos takes us one step closer to giving consumers the ability to use any funding mechanism through PayPal to transact securely and conveniently online and via mobile devices,” Roy said.
