eftpos started development of the new eftpos Chip in February 2011, releasing the first pilot card in October 2011. Further enhancements occurred in June 2012, with the development of the first contactless chip card in Australia, which supports several contactless payment options on a single card. The technology is consistent with EMV standards.

FIME and eftpos have worked together to devise a customised test plan, test bench and test tool to validate the card reader and terminal's compliance to eftpos' functional and security requirements. Further tests will be created by FIME to certify concepts regarding eftpos mobile payments, which are expected to be introduced in 2013/14. All certification programmes align with the highest industry standards.

Arnaud Peninon, Director APAC at FIME, comments: "FIME has worked with eftpos throughout the eftpos Chip implementation process, from initial consultation to product innovation and testing. Our experience in EMV and work with global payment schemes has enabled us to ensure the scheme's technical interoperability, security and compliance to the necessary standards and specifications so that it provides Australia with a scalable chip infrastructure capable of supporting next generation applications, such as mobile payments."

FIME will continue to work with eftpos and other programme members to support the scheme's national deployment of the eftpos Chip and system updates.

Bruce Mansfield, Managing Director of eftpos, comments: "As eftpos is Australia's most used debit card payment scheme, it is important that we offer an innovative, secure and cost effective payment system for the Australian community. The eftpos Chip provides us with the opportunity to increase security and, in the coming years, enhance the eftpos platform to offer value added functionality such as contactless payments and associated near field communication and mobile services."