EFTPOS launches eQR, eComm APIs
EFTPOS has announced the availability of its eQR platform and eComm enhanced online payments platform for testing to Australian fintech and digital payment developers.
The eQR framework uses QR code technology to allow consumers to make payments from their bank debit accounts. The first stage of the build of the platform was completed in July, and it is being made available through an API under the sandbox testing program.
The platform is being introduced as Australians are becoming more familiar with QR code technology due to its use in state and territory contact tracing regimes as part of the COVID-19 pandemic response.
EFTPOS is working with the industry on a QR payments standard using the technology.
Meanwhile, the EFTPOS eCommerce card-not-present online payment solution currently supports card-on-file transactions. EFTPOS is designing and implementing security capabilities for the platform as well as network risk reduction capabilities, which will be commercially available for the industry from November 2021, for rollout by May 2022.
The release of the new APIs will enable developers to immediately start developing eQR and eComm innovations. EFTPOS has now released a total of six APIs.
“As Australia’s first real-time payments fintech, EFTPOS is committed to giving fintechs real access to real products, so they can test, iterate and launch products that delight users and generate wealth for the nation,” EFTPOS CIO Ben Tabell said.
“Our new sandbox gives Australian fintechs far wider options to support job creation in the blossoming local digital payments ecosystem by building in and integrating services from EFTPOS.”
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