Australian debit card company eftpos has begun rolling out digital payment solutions for small businesses in the country amid the Covid-19 pandemic.
The solution is expected to offer more choice and savings to Australian businesses that accept online card-on-file transactions from their customers.
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Card-on-file payments are transactions where cardholders authorize merchants to store their payment details.
Australian businesses such as Aussie Broadband, Cluey Learning, and dozens more have already signed up for card-on-file payments service, eftpos CEO Stephen Benton said.
Benton added that each month, tens of thousands of transactions are being processed through the service.
eftpos will process transactions of nearly 40 banks, for their card-on-file payments.
Benton said: “eftpos is synonymous with low-cost debit card payments in-store at retailers across Australia, and we are excited to start making headway in the digital payment space.
“It is early days but the service will increasingly enable more small and medium businesses to have Australia’s most popular cards – multi-network debit cards – processed by eftpos, and potentially deliver significant cost savings.
“These potential savings are particularly important for small businesses during Covid-19 and recovery.
“I urge small businesses that use the card on file payments to talk to their digital payments providers about switching on the service.”
The service supports monthly subscriptions, occasional grocery orders, as well as payments initiated by the customers.
