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.
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By GlobalData“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.”
