eftpos sets digital ID solution connectID live

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eftpos sets digital ID solution connectID live

Becomes a standalone fintech.

eftpos has flicked the switch on its connectID digital identity solution, which will run as an independent fintech and fully-owned eftpos subsidiary.

The new service will enable eftpos to act as the middleman between identity providers, various merchants and government departments to verify identity.

The Australian-made electronic payments provider worked with Canadian-based identity and authentication company SecureKey to develop the technology.

eftpos CEO Stephen Benton said with connectID now live, the focus will shift to expanding the range of partnerships and applications.

“For the connectID business to keep advancing and growing, it needs to keep running like a nimble FinTech at an operational level to pursue its goal of creating a national identity infrastructure for all Australians,” Benton said.

“connectID is collaboratively working with governments, businesses, online merchants, banks and other identity providers with a view to building identity into our national payments infrastructure, as well as other commercial applications for all Australians and Australian businesses.”

eftpos most recently partnered with Retail Drinks Australia to trial ConnectID for age verification when purchasing alcohol.

The company began testing the digital solution mid-last year, with AusPost piloting the service alongside the postal services’ own Digital iD authorisation.

By November an advanced pilot was being led by the Queensland government to connect organisations requiring identify verifications.

eftpos has also applied to become the first non-government accredited operator of a digital identity exchange in Australia.

Eftpos designed the service to work within the Federal Government’s Trusted Digital Identity Framework (TDIF) and the financial industry’s TrustID framework.

eftpos entrepreneur in residence Rob Allen, who has been leading the connectID initiative from the start, said there is a need to build a trusted identify infrastructure.

“In Australia there is a real need to facilitate identity verification methods to help reduce the instances of fraud and identity theft, and improve ‘digital trust’ between customers and vendors,” Allen said.

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