Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
Paymark to take EFTPOS payment online
Posted on 19-Aug-2014 10:49. | Tags Filed under: News.



Paymark is set to launch EFTPOS online next year allowing those with a New Zealand bank account to purchase online without having to have a credit card.

The initiative is currently being developed with three of New Zealand’s largest banks, ASB, BNZ and TSB and will allow banks to offer a new, secure, convenient and simpler way for their customers to pay for online goods and services instantly in real-time using their existing bank accounts and their mobile device.

A pilot is planned for late November with the official launch planned for early 2015.

Paying online via EFTPOS will be secure and simple. Online EFTPOS payments work through secure digital “tokens” meaning customers don’t need to reveal their financial details (including bank account information) to merchants when they are shopping. And because Online EFTPOS is integrated with the mobile banking application, only financial institutions are privy to account details.

Paymark’s Chief Executive Officer Mark Rushworth says the online EFTPOS payment option will make internet shopping attainable for anyone with a New Zealand bank account. Online retailers will also benefit from the new payment option as it will make online shopping accessible to a larger number of potential customers and lower checkout abandonment.

Paymark has run one of the most successful payments network in the world for the past 25 years. Because of the company’s ability to offer efficient payment solutions to all banks, merchants and consumers, New Zealand has the highest penetration of retail electronic payment solutions in the world.

ASB’s executive general manager of technology and innovation, Russell Jones says ecommerce was the fastest-growing payment category last year, as merchants move more of their business presence to the web.

“Online EFTPOS is a natural progression of a payment method first introduced in 1989 and now well embedded in Kiwi day-to-day life.

“The EFTPOS online initiative we are launching with Paymark is another New Zealand first that will be great for merchants and our customers.”

Paymark will be launching EFTPOS online as an industry wide, pan bank service and will look to bring on other banks over the coming months.



comments powered by Disqus




Trending now »

Hot discussions in our forums right now:

Good riddance to Obama and his drones. Pakistani villagers will be saying the same.
Created by amiga500, last reply by Rikkitic on 23-Jan-2017 08:57 (114 replies)
Pages... 6 7 8


The President Of The USA: Donald Trump
Created by TimA, last reply by Fred99 on 23-Jan-2017 09:25 (1879 replies)
Pages... 124 125 126


Headphones recommendations?
Created by rayonline, last reply by joker97 on 22-Jan-2017 22:33 (16 replies)
Pages... 2


Xtra email no longer receives on Outlook 2003 / Outlook 2011 for MAC
Created by lNomNoml, last reply by hio77 on 22-Jan-2017 13:40 (45 replies)
Pages... 2 3


New Ford Mustang or Holden Commodore or alternatives
Created by MikeB4, last reply by driller2000 on 21-Jan-2017 12:39 (63 replies)
Pages... 3 4 5


Spec check on laptop for GoPro editing please
Created by martyyn, last reply by richms on 20-Jan-2017 17:23 (13 replies)

New Unlimited Fixed Broadband
Created by LivingSkinny, last reply by noroad on 19-Jan-2017 11:14 (55 replies)
Pages... 2 3 4


$1160 for a car battery??!!
Created by jonathan18, last reply by TinyTim on 23-Jan-2017 09:04 (63 replies)
Pages... 3 4 5