eftpos appoints Westpac's Stephen Benton as CEO
After a seven month search, Stephen Benton has been named as the next chief executive officer of eftpos, Australia's domestic debit card payment system. Benton will exit the Westpac Group, where he was head of consumer finance and payments and commence at eftpos in May 2018.He brings had 25 years of experience in card payments and had served as a non-executive director on the eftpos board for almost five years. This gave him "an intimate knowledge of the business," according to eftpos chairman Vickki McFadden, who added that Benton was ideally suited to guide the payments system through "the next phase of its evolution". "Stephen's deep knowledge of the payments sector, domestically and internationally and his track record of delivering customer focused solutions to achieve growth are key attributes we were seeking to lead eftpos in the next stage of its development," McFadden said. Benton's LinkedIn profile discloses an impressive array of experience and achievements, including: 13 years at Citigroup, finishing as GM credit cards, and then operations and technology director; head of product and pricing and related roles at Bankwest; chairman of collection agency Baycorp leading into its sale; and chair of online financial services comparison and shopping site Infochoice.McFadden also thanked Paul Jennings for his stewardship as acting CEO, during which time eftpos completed the initial phase of its transformation program. This involved the centralisation of its processing infrastructure, rolling out eftpos Tap and Pay and launching new products and services, such as eftpos mobile payments and the eftpos Settlement Service.