Eftpos Payments Australia is collaborating with distributed ledger company Hedera Hashgraph on a project to test the feasibility of a digital Australian dollar stablecoin for micropayments.
The trial will showcase the use of a digital wallet loaded with stablecoins for purchasing online content, such as pay-per-page, or streaming services on a pay-per-second basis.
Eftpos CEO, Stephen Benton, says: "As the leading provider of debit card payments in Australia, eftpos is well positioned to provide a new way for Australians to interact with the web via dollar-based micropayments."
The work will be led by Robert Allen, eftpos' entrepreneur in pesidence, who believes the proof of concept will help the debit card network explore other use cases for the technology.
"By working with Hedera, we are leveraging next generation payments infrastructure technology that can support Australian dollar-based micropayments and open up entirely new ways of conducting business online," he says. "The Hedera network will enable us to get speed to market and offers us the technology to process fast, secure, and affordable micropayment transactions for all Australian merchants and consumers."