Australian debit card company eftpos has signed a five-year agreement with mobile wallet technology developer C-Sam.
The companies will begin testing an eftpos mobile wallet and Near Field Communication widget with a group of retailers in the next few months. In addition to payments, the technology could also enable offers, loyalty and receipt transfers. The eftpos system accounts for 80% of debit card activity in Australia, or about 6.2 million daily transactions.
"After almost 30 years in the market as Australia's most used payment card network at the point of sale, eftpos is now looking at new ways to pay," said Bruce Mansfield, CEO of eftpos, in a release. "This agreement will enable eftpos to move into proof of concept trials very quickly, to test various solutions for the Australian market.
Chicago-based C-Sam sells mobile payments technology, including software development kits, software that supports NFC, QR and bar codes, electronic bill-pay, and mobile banking. The company's investors include MasterCard, which recently used C-Sam to deploy mobile payments at Coles supermarkets in Australia.
"Our partnership with eftpos enables eftpos to deploy mobile wallet capabilities quickly and easily under various brands," said Felix Marx, C-Sam's CEO, in a release.