eftpos today announced that eftpos is now available on Android Pay, with ANZ and Cuscal being the first Australian financial institutions to make the service available to eftpos-only cardholders.
eftpos Acting CEO, Mr Paul Jennings, said eftpos on Android Pay will provide eftpos mobile payments to cardholders, with secure access to their own money in real time and less likelihood of being surcharged.
The service will use Australia’s first domestic Token Service Provider (TSP) for increased security, by removing confidential consumer card data from the eftpos payment network and replacing it with a unique payment token. The eftpos TSP, which was built in partnership with Rambus, enables eftpos to generate and manage its own payment tokens, facilitating secure digital payment experiences for eftpos cardholders.
The technology provides additional benefits to consumers when faced with a lost or stolen mobile phone or card. The user is able to disable mobile payments quickly, without needing to cancel the physical card itself.
ANZ and eight Cuscal sponsored credit unions and banks are all offering their customers the choice of using eftpos on Android Pay, including People’s Choice Credit Union, Sydney Credit Union, Woolworths Employee’s Credit Union, CUA, Nexus Mutual, and FCCS.
“Almost 2 million cardholders will now be able to make eftpos payments on their Android mobile devices. This will bring the convenience of secure, in store mobile payments to many Australians for the first time,” Mr Jennings said.
“We are thrilled to team up with Google, ANZ and Cuscal to provide customers with access to their own money via their Android mobiles at the shops, with added benefits such as the ability to track their bank balances in real time.”
To use the service, cardholders simply need to download Android Pay at the Google Play Store and follow the prompts.
"We're excited to bring the security and simplicity of mobile payments via eftpos for Android device owners in Australia. Using Android Pay is more secure — and much faster — than rummaging through your wallet for a plastic card. That’s why we've worked with eftpos to enable Android Pay at almost 800,000 contactless payment terminals in Australia where people can seamlessly Tap & Pay with eftpos using their Android devices," said Pali Bhat, VP of Product Management, Payments, Google.
Cuscal’s General Manager Product and Service, Robert Bell, said: “We’ve partnered with eftpos and Google to ensure that our clients’ eftpos cardholders now have the convenience of paying via their Android phones. This adds to our large portfolio of leading digital payment solutions. Cuscal enables multiple financial institutions to compete and lead in payments solutions vs the Big 4 banks. We provide our clients’ customers choice in the way they want to pay.”