Times good for EPAL as Eftpos levy starts

This year will be first full calendar year of operation for Eftpos Payments Australia Limited and will see it begin building revenues for the infant payments scheme. Since January 1, 2011, EPAL has been funded from a one cent per transaction levy on issuers and acquirers, paid monthly.

Based on the levy and reported transaction volumes, EPAL has a budget of around A$20 million per year.

"We are very happy with the support our owners are showing," said Bruce Mansfield, EPAL's managing director.

"Things are good for us - very good."

The online project is still at the consultation and meetings stage but continues. In 2011, Mansfield wants to build the neglected Eftpos brand.

"We have a comprehensive marketing campaign under development now to build on the high acceptance of our brand. That will start later in 2011."

Yesterday EPAL reported that the number of transactions made using the Eftpos network grew strongly in the six months to December 2010 to more than one billion transactions, representing approximately $65 billion in purchases.