Online EFTPOS now a thing

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KrazyKid

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#287144 9-Jun-2021 13:12

I had had never here of on-line EFTPOS before 5 minutes ago.

It seems to be a new thing offered my Paymark and works with 4 banks at the moment.
(ASB, Heartland Bank, The Co-operative Bank and Westpac)

I believe you make a purchase form an on-line retailer and provide your mobile number.

you then get to approve the payment via your banking app notification and your done.

Seems PB tech is offering this form of payment - who else does?

Not sure it will replace the credit card for me (I like my cash back) but can see it being of use to others.

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meow
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#2721209 9-Jun-2021 13:14

I'm happy for everyone to use it if it means the death of POLi and other "Internet Banking Scraping as a service" platforms.

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mdf

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#2721214 9-Jun-2021 13:26

It's a Paymark solution that has been around for a good long while. 2015 from memory? But ASB seemed to be the only bank that supported it and didn't seem to be too much interest from merchants.

I got the same PB Tech email promoting it that I suspect the OP received. Not sure if this is some kind of relaunch? A few more banks seem to have signed up. Not mine though.

But +1 to anything that removes the need for POLi.

1101

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#2721215 9-Jun-2021 13:28

Given how so many Android phones are unpatched, out of date, obsolete Android versions ,riddled with user installed apps , apps that take uneeded permissions
Phones that arnt password protected
phones that sometimes came preloaded with spyware/malware (not a common issue for sure)

So is this really a good idea ?
I wouldnt trust my Android phones with internet banking .

Linux

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#2721216 9-Jun-2021 13:36

Never heard of it before today as well

Kyanar

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#2721218 9-Jun-2021 13:38

1101:

Given how so many Android phones are unpatched, out of date, obsolete Android versions ,riddled with user installed apps , apps that take uneeded permissions
Phones that arnt password protected
phones that sometimes came preloaded with spyware/malware (not a common issue for sure)

So is this really a good idea ?
I wouldnt trust my Android phones with internet banking .

Even apps with unneeded permissions can't access other apps sandboxes. I think your entire post is a bit alarmist.

I trust my Android phone with my internet banking credentials far more than I trust Australia Post/POLi with their internet banking website scraping as a service with my credentials.

itxtme

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#2721221 9-Jun-2021 13:44

Not sure it will replace the credit card for me (I like my cash back) but can see it being of use to others.

Those days will be coming to an end, well at the levels we have currently. With merchant fees becoming regulated shortly.

I'm happy for everyone to use it if it means the death of POLi and other "Internet Banking Scraping as a service" platforms.

By the way you talk @michaelmurfy I get the feeling you are not a fan of it [eftpos online]. I am interested as to why? It seems a sensible stepping stone before open banking, but that still feels a long way off.

michaelmurfy

meow
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#2721222 9-Jun-2021 13:45

1101: Given how so many Android phones are unpatched, out of date, <snip>

This applies to all platforms. I would also trust an internet banking app over logging into Internet Banking via my PC.

itxtme: By the way you talk @michaelmurfy I get the feeling you are not a fan of it [eftpos online]. I am interested as to why? It seems a sensible stepping stone before open banking, but that still feels a long way off.

You misunderstood. I'm fully supportive of EFTPOS Online. It is a stepping stone until Open Banking happens.

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pom532

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#2721223 9-Jun-2021 13:46

I saw it mentioned in the settings for Heartland bank, but I've never seen a merchant offer.

Gurezaemon

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#2721224 9-Jun-2021 13:51

I recently used this for a purchase from PB Tech. How does this work when it comes to disputing charges?
You can apparently get credit card companies to help with a dispute, including reversing payments, but I suspect online EFTPOS doesn't.

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davidcole

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#2721226 9-Jun-2021 13:52

I've used it at mightyape a couple of times.....Relatively painless.

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#2721228 9-Jun-2021 14:05

I've used it for my power and gas bills via Nova, simple and easy. Anything is better than POLi.

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MileHighKiwi

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#2721250 9-Jun-2021 14:58

As far as I know, the difference with the 'new' version of online Eftpos is that its API based. Not sure what the 'old' version was but BNZ have announced they are finally on the Online Eftpos bandwagon, using the new API service. Its very much a Paymark product through, merchants apply directly with Paymark.

BNZ becomes first NZ bank to use online EFTPOS - The Register

Handsomedan

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#2721252 9-Jun-2021 15:02

It's been in the works for quite a while - I used to work for Paymark and it took a long time to get it off the ground initially (originally was only available with just one merchant and one bank) - now just seems to be the right time (I think the stars have finally aligned); it's a decent service.

I've used it (obviously) and found it to be easy and painless. I'm vehemently anti-POLi, so I like the idea of a secure way to pay other than credit/debit or screen-scraping.

I look forward to more banks jumping onboard.

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#2721260 9-Jun-2021 15:09

I used it by accident on Pizza Hutts website a few months ago, it was a pretty good experience.

rugrat

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#2721262 9-Jun-2021 15:17

MileHighKiwi:
As far as I know, the difference with the 'new' version of online Eftpos is that its API based. Not sure what the 'old' version was but BNZ have announced they are finally on the Online Eftpos bandwagon, using the new API service. Its very much a Paymark product through, merchants apply directly with Paymark.

BNZ becomes first NZ bank to use online EFTPOS - The Register

How is BNZ the first when ASB, Heartland Bank, The Co-operative Bank and Westpac offered it before them?
Skinny was running a promo where top up by online EFTPOS could win something, I couldn’t enter as BNZ didn’t offer it. Though they have top up mobile in the BNZ banking applic which I use and works well.

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