eftpos adds secure tokenisation services with Bell ID

Julia Talevski (ARN)

eftpos has landed a partnership with Bell ID to help build a mobile payments capability that uses secure tokenisation services.

eftpos managing director, Bruce Mansfield, said the new capability would enable eftpos payments to be made securely across various digital platforms and applications being developed by Australian industry participants.

"This new capability will enhance competition in the Australian mobile payments market and help eftpos meet the growing needs of this rapidly changing area of payments technology. It will also provide the Australian industry with the choice of a domestic, secure tokenisation service," Mansfield said.

Tokenisation provides additional security by giving eftpos the ability to replace card numbers with unique reference numbers so that the information cannot be compromised.

Mansfield said the new mobile payments capability would complement eftpos' centralised payments processing hub, the "eftpos Hub", that is scheduled to be upgraded for online payments this month and tokenisation in early 2016.

Source: ARN Australia