Fintechs to test drive eftpos APIs in debit network's sandbox
eftpos, the national debit network, on announced that its eQR platform and rapidly evolving online payments capability are now available as APIs for local fintechs and digital payments developers to test drive.
The network’s information head Ben Tabell said the sandbox ushers in the next wave of eftpos digital transactions in Australia, with capabilities built on new architecture to enable fintechs and developers to innovate on the domestic debit network.
“As Australia’s first real-time payments fintech, eftpos is committed to giving them real access to real products, so they can test, iterate and launch products that delight users and generate wealth for the nation,” he said.
“Our new sandbox gives fintechs far wider options to support job creation in the blossoming local digital payments ecosystem by building-in and integrating services from eftpos.”
The release of the new eftpos APIs enables local and regional app-creators to start developing eQR and eComm innovations. It brings the number of eftpos APIs to six.
In the near term, it also means that local finechs, start-ups, and software and solutions developers get timely access - and a voice - within eftpos’ sandbox to build and test new solutions and integrations ahead of the full launch of eQR later this year.
The platform is about reimagining the Australian payment experience beyond payments, especially when businesses are looking for new digital innovations to help improve efficiency and create better customer experiences, eftpos said.
eQR provides Australian consumers and merchants with better, simpler, data-rich payments experiences online, mobile, or at the checkout. This initiative comes at a time when Australians are becoming familiar with QR code technology through daily interactions with Covid check-ins and increasingly turning to digital shopping.
Also under fast development are eftpos’ latest eComm solutions, to deliver a new generation of far more secure online payments also known as card-not-present payments.