Australia’s Eftpos Joins Forces with Bell ID to Enable Mobile Tokenization

Australia-based eftpos has teamed up with Dutch software company Bell ID to develop a flexible, domestic mobile payments capability that includes secure tokenization services.

The partnership will see the integration of Bell ID’s Token Service Provider platform with the eftpos HUB, a secure and scalable centralized switch that offers a cost effective, real time payments processing platform.

The tokenization technology allows eftpos to replace card numbers with unique reference numbers providing added layer of security.

The new mobile payments capability will facilitate secure eftpos payments across several digital platforms and applications being developed by Australian industry players, said Bruce Mansfield, managing director of eftpos.

“It’s great to be partnering with Bell ID on this important project because they have an excellent international reputation in the dynamic area of mobile payments and tokenization,” Mansfield said. “This new capability will enhance competition in the Australian mobile payments market and help eftpos meet the growing needs of this rapidly changing area of payments technology. It will also provide the Australian industry with the choice of a domestic, secure tokenization service.”

The new capability will also complement eftpos’ centralized payments processing hub, which will be upgraded for online payments this month and tokenization in early next year.

The Hub, launched in September last year, processes nearly 2 million eftpos CHQ and SAV transactions per day.