eftpos has confirmed the rollout of a new QR code payments network, which aims to enhance the payment experience for Australian consumers when shopping online, on their mobile or at the checkout.

The payments network is designed to seamlessly link loyalty, offers, receipts and more, to improve efficiency and create better customer experiences. A trial is slated for mid-2021 with a national rollout expected to be completed in 2022.

eftpos CEO Stephen Benton said the decision to rollout national eftpos QR code payments network comes at a time when Australians are becoming familiar with QR code technology through daily interactions with Covid-19 check ins and more frequent online shopping.

“Digital transactions enabled through the national QR code payments network aim to elevate and enrich the consumer payment experience while driving growth for local businesses,” he said.

“Initiating secure purchase transactions using a consumers’ preferred digital wallet unlocks a wealth of extra benefits that will transform the way Australians choose to pay.”

The technology allows merchants to grow their digital sales with low cost QR acceptance using enriched data and integrated customer loyalty services, by leveraging eftpos’ Australian-owned network infrastructure.

It works by generating unique QR codes containing transaction details that are captured on a consumer’s mobile phone, initiating a secure digital wallet payment integrated with the merchant’s loyalty service provider.

“The QR code payments network will enable local home-grown innovation by connecting numerous APIs, consumer digital wallets, and supporting technologies on top of the existing eftpos network rails, providing choice and potential cost savings for local businesses,” Benton said.