eftpos finds retailer, bank support for QR payments platform

eftpos’ QR code payment platform will be backed by some of Australia’s largest banks and retailers and is expected to be rollout out this year.

eQR uses QR code technology to enable consumers to pay using their smartphones.

CBA, NAB, Coles, Woolworths, Azupay, Beem It and Merchant Warrior have all come out in support of the new payment option as consumers push for simpler checkout experiences and choices.

In a statement eftpos said it expected the eQR payments platform “will begin to rollout as a new consumer payment option before Christmas.”

eftpos CEO Stephen Benton said he expected to see a strong consumer uptake as Australians are now familiar with QR code technology due to the health pandemic and check-in procedures.

“We expect eQR will quickly become the QR equivalent of eftpos Tap&Pay on debit cards," Benton said.

“Covid has changed customer behaviour and Australians are now ready for the enhanced payment experience offered by eQR.

“The eQR platform aims to provide better experiences for consumers and merchants through added security, loyalty, offers and digital receipts, no matter where they choose to shop – online, on their mobile or at the checkout.”

The first stage of the eQR development was completed in July 2021 and is currently in trial with several Australian merchants.