Australia Post, eftpos to pilot digital identity and payments

eftpos is teaming up with Australia Post to pilot a new digital identity solution that aims to mitigate fraud in online transactions. The solution, named connectID, will help Australians safely connect with merchants and government services — allowing organisations to verify who they are dealing with when receiving or making payments online.

Stephen Benton, eftpos CEO, said the solution would help meet demand for better online security, with more consumers flocking online to transact with businesses during COVID-19.

“It’s great to have other iconic Australian brands like Australia Post onboard to trial this identity solution, which fills an important gap in the market at a time when Australians are going online to transact more often following the COVID-19 pandemic,” Benton said.

Since early 2020, eftpos has been working with almost 20 businesses throughout Australia on the connectID Proof of Concept. It is now ready to move to the next stage.

“We are collaboratively working with businesses, online merchants, banks and other identity providers with a view to building identity into our national payments infrastructure for all Australians and Australian businesses before the end of the year,” Benton added.

Australia Post’s Head of Digital ID, Margo Stephen, said she was excited about the initiative, given the wide range of potential benefits — including faster government payouts in a national emergency.

“[...] eftpos’ connectID will offer even more places for those with an Australia Post Digital iD on their smartphone to prove who they are when interacting online with both business and government,” she said.

Interoperability is a key feature, with the solution designed to work within the federal government’s Trusted Digital Identity Framework (TDIF), industry’s TrustID framework, and emerging international standards.

“This is an exciting development because connectID reinforces eftpos as an important player in the digital ecosystem as a central identity broker for Australia and leveraging our payment network rails,” Benton said.

Image credit: ©stock.adobe.com/au/terovesalainen