eftpos Payments Australia has entered into a partnership with distributed ledger company Hedera Hashgraph to test a micropayments proof-of-concept.
The collaboration is a part of eftpos’ digital payments innovation strategy as it seeks to provide an alternative to traditional online paywalls and subscriptions.
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With the proof of concept, eftpos will assess the capability of a digital Australian dollar stable coin, enabled by the Hedera Consensus Service. It will allow the customer load a wallet with few dollars and then use it to pay for web-based content.
eftpos CEO Stephen Benton said: “As the leading provider of debit card payments in Australia, eftpos is well positioned to provide a new way for Australians to interact with the web via dollar-based micropayments.
“We are excited to pilot Hedera Hashgraph to show what is possible with an innovative, improved online business model.”
Hedera Hashgraph CEO, Mance Harmon said: “We are excited to work with eftpos to simplify the micropayments process for merchants and retail audiences. eftpos has developed a compelling and impressive proof-of-concept that showcases an alternative to traditional paywall solutions.
“Working closely with companies and applications like theirs, we are confident we can facilitate the next chapter in the payments evolution, delivering a secure, transparent, and level playing field to conduct micropayments.”
