eftpos Joins US Company Hedera Hashgraph For Australian Network Node

eftpos Joins US Company Hedera Hashgraph For Australian Network Node

eftpos is set to play an essential role in Hedera’s first Australian network node, aimed at revolutionising micropayments technology.

Having entered the Hedera Governing Council, eftpos joins other industry leaders like Google, Boeing and IBM. Hedera oversees a global node network which allows for low-cost micropayments across the Internet of Things and for content streamed around the internet.

Now, media companies will be able to find new customers as consumers will be empowered with the ability to make very minor payments for web purchases using a digital wallet. This means the potential for pay-per-second or pay-per-page content.

Stephen Benton, CEO of eftpos says, “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”.

The eftpos digital strategy is Australia-focused and includes five core elements: mobile wallet (including Beem It), eCommerce, digital identity, which uses connectID, Fintech ecosystem access and a national QR payments rollout.

Entrepreneur in Residence Rob Allen says that “being on the Hedera Governing Council will provide us with the combined technical insight of all the Council members as well as a unique global perspective to improve our speed to market”.

For Hedera, eftpos is essential to Australian infrastructure, processing 2 billion credit card transactions in 2020 alone.

Mance Harmon, CEO and co-founder of Hedera Hashgraph says, “eftpos is a critical component of the country’s financial infrastructure…we are pleased that they have joined the Hedera Governing Council as part of their Australia-first digital product strategy”.




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