Tuesday, 23 February 2021 22:22

eftpos launches FinTech advisory committee to give fintech a ‘voice’

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Debit card provider eftpos has launched a FinTech advisory committee in collaboration with FinTech Australia, designed to give fintechs a direct say in how they can access and leverage the eftpos payments network for the “betterment” of Australia’s digital economy.

Seven FinTech companies have joined the committee which will involve a series of workshops to be held every month starting in February, focusing on the eftpos digital roadmap and API programs.

As a result, representatives from the following businesses will now join eftpos to explore ways to streamline access to its network, with recommendations to be submitted to the company by mid-year: Assembly Payments, Azupay, Bleuco, Meeco, Monoova, Paypa Plane and Verrency.

eftpos CEO Stephen Benton said the idea for the committee arose from ongoing discussions with the team at FinTech Australia, at a time when the company was rapidly expanding in the digital space.

“The aim of the committee is to advise eftpos on ways we can build on our efforts to make it easier for FinTechs to access the eftpos network and our products and services, in order to build their own businesses and payment experiences that can work across a broad range of connected devices in the digital economy,” Benton said.

“We are delighted with the response we got, and would like to thank every new committee member for agreeing to collaborate with us on this important initiative.

“FinTechs are a dynamic and growing sector of our economy, and of crucial importance in the payments space. There are significant opportunities for FinTechs on the eftpos network, which includes access to 51 million Australian eftpos-enabled proprietary, multi-network debit and multi-network credit cards, as well as hundreds and thousands of merchants.,” Benton concluded.

FinTechs will also be able to leverage eftpos’ digital product and technology strategy, which is being rolled out over the next two years. Much of the work is well under way, focusing around the five key elements of: mobile wallets; eCommerce; Digital ID; APIs and FinTech access; and national QR code payments rollout.

Chair of FinTech Australia and CEO/Co-Founder of Paypa Plane Simone Joyce said the eftpos FinTech advisory committee brings to together some of the most innovative thinkers involved in FinTech in Australia.

“I am looking forward to working with the committee on solutions that leverage the critical infrastructure of the eftpos network to drive positive outcomes for merchants and consumers," Joyce said.


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Peter Dinham

Peter Dinham - an iTWire treasure is a mentor and coach who volunteers also a writer and much valued founding partner of iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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