eftpos hooks into Android Pay
Australia's low cost debit payments network - eftpos - has taken a big stride into the fast-growing contactless payments market after tying a deal with ANZ and Cuscal to accept Android Pay transactions through its platform.Details of the new alignment will be announced today by eftpos acting CEO Paul Jennings, Google executives and card issuing institutions across the country.The deal opens the door for almost two million eftpos-only cardholders to make point of sale payments using their Android mobile devices."Almost two million cardholders will now have the capability to make eftpos payments on their Android mobile devices," Jennings said."This will bring the convenience of secure, in-store mobile payments to many Australians for the first time."A feature of the new eftpos service is the first domestic Token Service Provider (TSP that removes confidential consumer card data from the eftpos payment network and replaces it with a unique payment token).The TSP function allows eftpos to generate its own payment tokens to protect cardholder privacy and enhance security on transactions.ANZ and eight customer-owned banks and credit unions have agreed to market eftpos on Android Pay as a payment option for customers.The customer-owned card issuers include CUA, People's Choice Credit Union, Sydney Credit Union and Woolworths Employees Credit Union.Cuscal's head of products, Robert Bell, said the deal was another important step for customer-owned institutions to compete in the ever-changing payments market."This adds to our large portfolio of leading digital payment solutions," he said."We provide our clients' customers choice in the way they want to pay."ANZ's head of products, Bob Belan, said the Android Pay service would be available to the bank's customers from today (14 November 2017).Last month ANZ and eftpos announced the rollout of Apple Pay to 1.6 million debit cardholders that allows customers to make point-of-sale payments using iPhone and Apple Watch devices.