eftpos updates digital roadmap
To provide greater certainty over a number of its planned product rollouts, eftpos released its updated digital roadmap which also includes new mandates.
The product roadmap updates the delivery dates for a range of initiatives and enhancements including a new addition to the rollout, in-app payments.
Other product rollouts include improved fraud protection, a Digital Identity network, mobile wallets, QR Codes, APIs and eftpos online payments, such as enhanced fraud protection for additional use cases.
“The Product Roadmap updates our schedule for key technology rollouts by eftpos, its members and technology partners over the next two years which aim to create greater value, ease and security for Australian consumers and businesses transacting in the digital economy,” eftpos CEO Stephen Benton said.
The move to assess in-app pyaments is timely given the growing use of mobile and digital wallets including Apple Pay.
“And it comes at a time when Australians are increasingly turning to shopping online, and businesses are looking to digital innovation to improve productivity and efficiency as the nation continues to deal with COVID-19 and recovery,” Benton said.
For eftpos chief product officer Matt Barr, the in-app mobile payment initiative will support the growing use of mobile payments by Australians.
By early 2022, Australians should be able to use tokenised eftpos payments within mobile apps via their preferred mobile wallet on their smart device, according to Barr.
“This is just one example of the Product Roadmap giving merchants more opportunities to potentially lower their costs and consumers more convenience and choice, when using mobile payments in store or within a mobile app,” he said.
The updated roadmap for 2021 builds on the company’s strategy released in December and includes the five elements: Digital wallets; eCommerce; digital identity; APIs and fintech access and QR acceptance.