New Zealand's bank-owned payments processor Paymark has announced plans to launch an online version of EFTPOS that would allow bank customers to use a digital token to buy online or through a mobile phone without having to use a credit card.Paymark said a pilot was planned for late November and an official launch was planned for early 2015. It would launch with National Australia Bank's BNZ, Commonwealth Bank of Australia's ASB and locally-owned TSB, but would be open to other banks. Paymark processes around 75 per cent of New Zealand's credit and debit card transactions from 75,000 merchants with 110,000 terminals. Paymark, which is owned by the Big Four Australian-owned banks, is simultaneously working with Telecom (now called Spark), Vodafone and 2 Degrees to build a digital wallet that would allow card payments online and with mobile devices.  This TSM venture has, however, been struggling for traction, with Westpac pulling out and ANZ reported to be non-committal.Paymark said its online EFTPOS service would allow customers with a bank account with BNZ, ASB and TSB to buy online, and to buy using a mobile device. The system would work through secure digital tokens, which meant customers would not need to reveal their bank account details to merchants.Paymark said online EFTPOS would be integrated with customers' mobile banking application and only financial institutions would be privy to account details. Paymark Chief Executive Officer Mark Rushworth said online EFTPOS would make internet shopping available for anyone with a New Zealand bank account, meaning they could avoid using Visa or Mastercard.ASB General Manager of technology and Innovation Russell Jones said: "Online EFTPOS is a natural progression of a payment method first introduced in 1989 and now well embedded in Kiwi day-to-day life." Paymark said it would launch EFTPOS as an industry wide service and aimed to bring on other banks in coming months.Australia's Eftpos CEO Bruce Mansfield said it planned its own consumer trials this month.