FIS Brings New eftpos Payments Hub to Australia, Cuts Cost to Innovate
*FIS building a payments hub to process eftpos transactions, the most
widely used debit card system in Australia.
*The hub infrastructure will replace existing bilateral networks.
*Advantages of the new infrastructure include reduced costs, faster
innovation and greater efficiency of payments.
JACKSONVILLE, Fla., & SYDNEY -- October 2, 2013
Reinforcing its position as a world leader in payments switching, FIS™ (NYSE:
FIS), the world’s largest provider of banking and payments technology,
announced today that it has been selected by eftpos to build its new
Australian payments hub.
The most commonly used debit card system in Australia is eftpos and it
accounts for roughly 70% of the country’s debit card transactions. FIS’ global
EFT switching platform will be at the heart of the new hub infrastructure,
replacing Australia’s current bilateral networks and processing millions of
eftpos transactions each day across the country. The eftpos payments hub will
be operational in 2014.
The payments hub aims to cut costs, reduce complexity and improve efficiency.
More importantly, it will facilitate the fast and efficient introduction of
new payment technologies including contactless, mobile and online by
centralizing those changes in a single system. As online and mobile platforms
expand in the country, it also will help support local choice and competition
in the Australia payments market.
“We are delighted to be working with eftpos on this project. This is the
latest in a long string of financial services organizations turning to FIS for
their switching needs due to our unique and advanced solutions that improve
processing networks worldwide,” said Richard Palmer, Managing Director, FIS
Australasia. “FIS powers some of the world’s largest payments switches and has
developed an enviable reputation for delivery and innovation.”
“This is a very significant development for eftpos and the industry because it
will help us to maintain our position as a competitive, domestic payments
option in the Australian market for many years to come, promoting healthy
competition, choice and innovation,” said Bruce Mansfield, Managing Director,
FIS (NYSE: FIS) is the world’s largest global provider dedicated to banking
and payments technologies. With a long history deeply rooted in the financial
services sector, FIS serves more than 14,000 institutions in over 100
countries. Headquartered in Jacksonville, Fla., FIS employs more than 35,000
people worldwide and holds leadership positions in payment processing and
banking solutions, providing software, services and outsourcing of the
technology that drives financial institutions. First in financial technology,
FIS tops the annual FinTech 100 list, is 434 on the Fortune 500 and is a
member of Standard & Poor’s 500^® Index. For more information about FIS, visit
eftpos is the most widely used debit card system in Australia, accounting for
about 70% of debit card transactions. More than 6 million eftpos transactions
are made each day at more than 500,000 merchants, using 760,000 eftpos
terminals. For more information on eftpos, visit www.eftposaustralia.com.au.
Kim Snider, 904.438.6278
FIS Global Marketing and
Mary Waggoner, 904.438.6282
Senior Vice President
FIS Investor Relations
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