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Online EFTPOS delivers real contactless payment method - Paymark

Fuseworks Media
Fuseworks Media

As many retailers look for new ways to reassure customers who are still able to shop in-store, contactless payments are being touted as one solution. By reducing the number of people handling EFTPOS terminals the hope is we can reduce the spread of the virus any further.

But that’s not always possible, with some retailers not equipped to use contactless payments at the terminal or some customers unwilling or unable to use contactless cards.

Paymark’s Online EFTPOS takes the idea one step further by removing the need for shoppers to interact with anything except their own phones.

Paymark CEO Maxine Elliott says customers don’t need to have a credit card to use contactless.

"There’s no need to use credit cards, customers can buy products using their own money direct from their own bank accounts. That’s great if you don’t have a credit card or if you want to pay from your home, and just drop in and pick up the product."

Retailers have already been using Online EFTPOS for their web stores but many are starting to use it for in-store purchases as well. Customers can shop in-store and when making their purchase the retailer can use their own websites to conclude the transaction via Online EFTPOS. The customer approves the purchase through their own banks’ mobile apps and the transaction is completed with the minimum of contact.

"Retailers are starting to explore alternatives to their traditional shopping model and this is a critical component of the retail world during lockdown."

Merchants who aren’t already set up to use Online EFTPOS can do so with no set-up cost. Already Paymark has over 200 merchants using Online EFTPOS and with ASB, Westpac, Co-operative and Heartland Bank already supporting it, now is the time to make in-store virtual shopping a reality.

"ASB was an early adopter of Online EFTPOS and we are really pleased that Paymark is ‘reinventing’ this payment innovation to support New Zealand retailers providing essential services. Online EFTPOS has always been a safe way to pay online but now it’s a safe way to shop in store. It’s a win win," says Simon Tong, EGM Digital, Data and Brand, ASB.

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