The company has announced the start of a trial program for small transactions in some stores.
Should a new Eftpos mobile payments trial prove to be successful, it may provide the opportunity to Australians to make digging through a purse or a pocket for change nothing more than a distant memory.
This is because its pilot program is to allow smartphone owners to use their devices to make small purchases.
The mobile payments trial will be run in certain Australian stores beginning in July. According to the CEO of Eftpos, Bruce Mansfield, if this program proves to be successful, it could lead to a much broader roll out in which the use of smartphones for this purpose could become mainstream. He explained that it could actually help to reduce the need for cash in smaller denominations.
Eftpos believes that the convenience and speed of mobile payments will play very well in its favor.
Mansfield explained that “This type of mobile payment could displace low value cash. It’s quicker, it comes down to speed and convenience and potentially a reward. We’re certainly hopeful.”
This pilot project is the start of a five year agreement with mobile payments company, C-SAM. It will use technology similar to that which has been implemented by Visa PayWave. This near field communication tech (NFC technology) will be combined with apps in order to allow shoppers to use a form of digital wallet.
The CEO went on to specify that the reason that they have faith in the use of mobile payments in this way is that consumers in Australia “already have a love affair” with their smartphones. Now, they’re seeking to broaden the various ways in which interactions through smartphones can occur as an element of the overall shopping experience, and to take part in a greater amount of that interaction.
Beyond mobile payments, Mansfield also saw opportunities in providing shoppers with the ability to create lists of items they need, locate products, and find and use loyalty offer or reward programs using their smartphones. This way, consumers can combine their favorite device with a larger number of the shopping activities that they do in a regular day.