Australian Payments Heavyweight Eftpos Joined Hedera Governing Council

By Warren Hayes | February 2, 2021

Efptos – top-tier, Australia-based national debit infrastructure operator – has reportedly been selected as the latest entity to be a part of the Hedera Governing Council. 

Specifically, Eftpos has reportedly become a member of Hedera’s governing council following a trial for micropayments was carried out successfully in 2020, by both firms. 

Together with securing the 17th spot in the council, Eftpos will reportedly also take up the role of the first network node operator across Australia. 

Different entities have joined the council previously reportedly including Google, IBM, Boeing and Deutsche Telekom.

While electronic funds transfers at point of sale (EFTPOS) is a payment method utilized across the globe. It is reportedly also the brand of a particular network employed for the similar type of payment, throughout for such payments in Australia and New Zealand.

Stephen Benton – Head of Eftpos – reportedly outlined its rising engagement with Hedera as a primary  component of its digital payments innovation strategy, and crypto-enabled micropayments will vastly contribute to bringing up positive disruption throughout Australia’s economy. 

“We are excited to participate in the development of next-generation micropayments technology that has the potential to open up entirely new ways of conducting business for Australian enterprises and enable compelling new experiences for Australian consumers,” Benton reportedly remarked. 

The development reportedly appeared after a successful proof-of-concept was carried out in 2020 by Eftpos and Hedera into micropayments, with the initiative running trial for frictionless sub-cent transfers using Eftpos’ API and Hedera’s Australian dollar stablecoin.

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