PayPal joins Eftpos

Paypal, eftposPayPal has joined Eftpos, with plans to connect directly to the company’s centralised payments infrastructure, the Eftpos Hub, in 2016.

“We are very pleased that PayPal has decided to join Eftpos and directly access the real-time processing capabilities of the Eftpos hub infrastructure and other benefits of being a member,” said Eftpos MD, Bruce Mansfield.

Mansfield said Eftpos had recently upgraded its infrastructure for online payments and would work with PayPal and other members to ensure that Eftpos would be available to consumers and merchants as a payment option for online transactions.

PayPal is the fourth Eftpos member to join since the inception of Eftpos as a payment system in 2009, following ING Direct, Tyro and Adyen.

Since its launch in September 2014, the Eftpos Hub processes approximately three million Eftpos CHQ and SAV transactions each day.

Libby Roy, vice president and MD of PayPal Australia said, “Eftpos is an established and important part of the payments landscape in Australia with a strong consumer base.  We’re very happy to be working together to enable Eftpos payments through the PayPal network.”

“Our membership of Eftpos takes us one step closer to giving consumers the ability to use any funding mechanism through PayPal to transact securely and conveniently online and via mobile devices,” said Roy.

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