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Australia's eftpos wins government approval for digital ID exchange

Australia's eftpos wins government approval for digital ID exchange

Eftpos has become the first officially accredited non-government operator of a digital identity exchange in Australia.

Eftpos in June rolled out its new digital identity service as a standalone fintech subsidiary.

The new venture, dubbed connect ID and developed in conjunction with SecureKey, has the aim of making it easier for Australians to share, store and receive personal identity information online.

ConnectID acts as ‘broker’ between organisations that securely hold identity data on behalf of their customers, and merchants or government departments that need to verify who they are dealing with or receive identity information that they can trust.

The service is currently operating trials with identity providers such as Australia Post, Yoti and several State Governments to resolve issues around age verification for online liquor sales, police checks and licence validations for heavy equipment operators on mining sites.

Eftpos CEO Stephen Benton says the accreditation under the Australian Government’s Trusted Digital Identity Framework (TDIF) opens the door for eftpos to work more closely with the Australian Government’s Digital Transformation Agency (DTA). Collaboration opportunities include exploring how to make it easier for more Australians to access both private and Government services securely online.

“TDIF accreditation is a big step forward for eftpos and industry to help bring the benefits of digital identity to more sectors of the economy," says Benton. “With connectID, eftpos drew on its experience operating the national eftpos network in the development of an exchange to make it easier for Australians to share, store and receive trusted personal identity information online, giving them more confidence and control.”

Comments: (1)

Andrew Smith
Andrew Smith - RTGS & ClearBank - London 29 September, 2021, 10:04Be the first to give this comment the thumbs up 0 likes

Great to see digital ID moving forward, however I am not a fan of this approach at all. Acting as a broker between organisations that store identity data is nuts - it takes away a lot of the control and security associated with the person (or business) themselves holding their identity data and controlling how that uses. It is the opposite to having the customer at the centre of things - and therefore in my mind open to abuse and shuts down innnovative approaches to various other services - think open finance. 

So one step forward, maybe two steps backward...