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July 23, 2020

eftpos partners Hedera Hashgraph to test micropayments proof-of-concept

eftpos Payments Australia has entered into a partnership with distributed ledger company Hedera Hashgraph to test a micropayments proof-of-concept.

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The collaboration is a part of eftpos’ digital payments innovation strategy as it seeks to provide an alternative to traditional online paywalls and subscriptions.

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.”

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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