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Eftpos signs up banks, fintechs and merchants for eQR roll out

Eftpos signs up banks, fintechs and merchants for eQR roll out

Eftpos Australia has signed up Commonwealth Bank, National Australia Bank, Coles, Woolworths, Azupay, Beem It and Merchant Warrior to support the rollout of its new QR payments platform, eQR.

Eftpos completed the first stage of the eQR build in July 2021 and is currently in trial with several Australian merchants. The new consumer payment option, available both online and instore, will begin to roll out ahead of the busy Christmas shopping season.

Fintech partners like Merchant Warrior, Azupay and Beem It have joined the effort to help drive innovation and onboard more Australian merchants to eQR before Christmas, in categories such as online entertainment, charities and fast food.

Eftpos CEO Stephen Benton, says: “The eQR platform aims to provide better experiences for consumers and merchants through added security, loyalty, offers and digital receipts, no matter where they choose to shop - online, on their mobile or at the checkout.”

Benton is bullish about its prospects: “We expect eQR will quickly become the QR equivalent of eftpos Tap& Pay on debit cards. Covid has changed customer behaviour and Australians are now ready for the enhanced payment experience offered by eQR. It is great to have the support of iconic brands like Commonwealth Bank, National Australia Bank, Coles, Woolworths, Azupay, Beem It and Merchant Warrior as we roll this out across the country."

Comments: (2)

Andrew Smith
Andrew Smith - RTGS & ClearBank - London 13 October, 2021, 12:421 like 1 like

wow, i am back in 2011 when we built a small digital wallet and payment system using, that's right QR codes..... Financial services does take a time to realise the benefit of new technology....about a decade it seems...

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 14 October, 2021, 14:05Be the first to give this comment the thumbs up 0 likes

It's only finserv in some countries and rail-specific, I guess. QR code based payments are very popular in India (and China) for A2A, where they solve the pain area of low penetration of credit card and of POS terminals. That said, Bharat QR for credit card payment has received lukewarm response in India. In USA, where both credit card and POS have high penetration, QR code for A2A is a solution seeking a problem whereas QR for credit card is supported by payment apps like Starbucks, Walmart, and Zelle. 

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