ANZ has become the first Australian financial institution to make in-store eftpos mobile payments available to its eftpos Access cardholders.Of all the Big Four banks, ANZ remains alone in its willingness to deal with Apple Pay and is therefore the only major bank that can utilise the new technology. Paul Jennings, eftpos acting CEO,  pointed out that there are many other smaller financial institutions that are willing and able to adopt the same technology. Speaking to Banking Day, Jennings confirmed that discussions with at least one of the smaller banks were underway. The usual eftpos card is replaced by the Apple app in the Apple pay wallets and eftpos' role is - as it normally is - to run the payment network.The phone will then behave just like an eftpos card, from the customer's point of view - that is, it can be tapped at the merchant, ultimately processed by ANZ. As with other mobile payments systems, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique device account number is assigned, encrypted and securely stored in the secure element on each device. That means that each transaction is authorised with a one-time unique dynamic security code.Jennings said Apple Pay with eftpos would provide ANZ's Access cardholders with the ability to make eftpos purchases on their iPhone or Apple Watch using their own money, processed in real time."Today marks a significant milestone for eftpos as we move from our traditional card based payment method into mobile, enabling consumers with an iPhone or Apple Watch to choose the eftpos account they wish their mobile payment to be made from, being either their eftpos CHQ/SAV account," he said."About 1.6 million ANZ eftpos Access cardholders now have the opportunity to make payments on an iPhone or Apple Watch, many of whom may not have had the opportunity to make in store mobile payments before."