Payment solutions firm eftpos has released a report in collaboration with FinTech Australia, delivering ten recommendations that outline how Australian FinTechs can best leverage the eftpos digital roadmap and API programs.
The Report’s committee was Chaired by eftpos’ Chief Information Officer, Ben Tabell and included executives from ten leading FinTech companies, including; Assembly Payments, Azupay, Bleu, Ezypay, Meeco, Monoova, Paypa Plane, POLi, Sniip and Verrency.
“Enabling Australian FinTechs a direct avenue to discuss how they partner and collaborate to access the eftpos payments network through the Committee resulted in recommendations that covered a number of central themes, including consultation and engagement, regulation, and technology and solutions,” Tabell said.
Report recommendations included the continuation of the Committee for another 12 months to deepen relationships and the exchange of ideas. Furthermore, it called for closer engagement in drafting new eftpos rules for traditional processing and new eftpos businesses and exploring options to streamline sponsorship arrangements to enable better access for FinTechs.
Interestingly, the Report includes recommendations to explore existing and emerging technologies to create new digitised mobile-initiated payment experiences.
The Committee also called for the establishment of dedicated relationship managers by eftpos to facilitate consultation and communication on future API strategy planning and the eftpos Board regarding critical recommendations.
Simone Joyce, CEO of Paypa Plane and Chair of FinTech Australia said, “It was inspiring to see representatives from the Fintech Community come together as part of the eftpos Fintech Advisory committee with a common set of goals in mind – including supporting a digitally-enabled future for payment systems and creating an accessible, competitive and collaborative innovation environment.”