Tag: eftpos

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.

Mobile payments projects capture the attention of consumers

As mobile payments become more common, so too do the various trial projects that aim to spur progress in the mobile commerce field. Trial projects are important as they help expose consumers to the idea of mobile payments and let them experience the convenience that mobile commerce platforms offer. These trial projects are not solely for the benefit of consumers, of course, as the companies responsible for these projects have an opportunity to ensure that their mobile payments systems actually work.

Eftpos to launch new project in July

Eftpos, a commerce company based in Australia, has announced that it will launch a new mobile payments trial project in its home country in July of this year. The trial project is associated with an overarching partnership the company has with C-SAM, another company invested in the mobile commerce field. The project itself will promote the use of NFC-based mobile payments systems in Australian stores, which will be used to facilitate transactions from consumers as they make small purchases.

Mobile payments projects to make use of NFC technology

NFC technology is often considered one of the pillars of the mobile payments world. The technology is chiefly responsible for supporting mobile transactions as it is capable of transmitting and receiving digital information over short distances. NFC technology has recently been attracting criticism due to concerns regarding mobile security. While the technology can be used for mobile payments, it can also be targeted by hackers to access a person’s financial information. Eftpos, as well as the other companies invested in mobile payments, has made security a top priority.

Etfpos eager to accommodate consumer needs

Eftpos represents more than 80% of the daily transactions made in Australia. The company has a strong interest in mobile payments due to the changing interests of consumers. Those with mobile devices are beginning to demand new commerce services in order to accommodate their needs. Eftpos is well positioned to meet these needs and believes that mobile payments may soon replace traditional forms of commerce in the future.