What Eftpos Australia does

Eftpos Australia operates Australia's domestic debit card network, available on over 70 million debit cards and processing payments behind the scenes for Australian merchants and consumers. The network is a distinct operating brand within Australian Payments Plus (AP+), the consolidated entity formed in late 2021 through the amalgamation of eftpos, BPAY Group and the New Payments Platform Australia (NPPA). Core technology capabilities include contactless, chip and PIN transactions; tokenisation services; EMV 3D Secure authentication for online transactions; stand-in processing (STIP) for issuer outages; QR code payments; and Least Cost Routing/Merchant Choice Routing that allows merchants to direct debit volume to the lowest-cost network. The network supports integrations with Google Wallet, Apple Pay and Tap to Pay on iPhone, and was the first major Australian card network to certify GPayments (2022) and onboard global acquirers J.P. Morgan Payments (2024) and Worldpay from FIS (2023) as members.

Eftpos earns revenue primarily through regulated interchange fees on debit/prepaid transactions (currently capped at 8 cents fixed or 0.16% ad-valorem under RBA regulation) and scheme/network fees paid by financial institution members, with AP+ announcing a 22% reduction in wholesale scheme fees in May 2025. Distribution is indirect: card-issuing banks (the four majors plus new members) and acquirers provide reach to consumers and merchants respectively, embedding the network across the Australian payments landscape. Named merchant relationships include Coles (digital wallet and QR partnership via Beem) and Subway (pilot of eftpos QR code payments in North Sydney and Brisbane City).

The business is positioned structurally as a regulated, low-cost domestic alternative to Visa and Mastercard, with Merchant Choice Routing delivering roughly 20% debit-transaction cost savings to merchants per the RBA April 2024 Bulletin. RBA reforms effective October 2026, including a ban on surcharging eftpos transactions and further reductions in interchange caps, are expected to deliver approximately AUD 910 million in annual savings to Australian businesses and AUD 1.6 billion to consumers, structurally favoring a high-volume, low-yield domestic rail. The company is privately held under the AP+ consolidated entity, headquartered in Sydney, with 251-500 employees and Lynn Kraus serving as inaugural CEO of AP+ since December 2021.

Name

Eftpos Australia

Legal name

Australian Payments Plus

Website

https://eftposaustralia.com.au

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

251–500 employees

Short description

Eftpos Australia operates Australia's domestic debit card network, processing payments behind the scenes on over 70 million debit cards for merchants, consumers and financial institution members under Australian Payments Plus.

Ownership category

akta.pro rank

Product category

Payment Network Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

akta.pro primary industry

General-Purpose Debit Card Schemes (FSAMAAAB)

akta.pro secondary industry

Alternative Card Network Schemes (e.g., PIN-debit / EFT networks) (FSAMAAAJ)

Keywords

• Debit card network
• Payment processing
• Merchant choice routing
• Mobile payments
• Card payment infrastructure

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Interchange Fees: Eftpos generates revenue through interchange fees charged on transactions processed over its network. These fees are paid by merchants' banks to card-issuing banks. The RBA regulates these caps, with recent reforms reducing credit card caps to 0.8% and debit/prepaid caps to either 8 cents fixed or 0.16% ad-valorem.
2. Scheme/Network Fees: AP+ announced a 22% drop in wholesale fees for the domestic eftpos network, indicating scheme fees are charged to financial institutions for network access and participation.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Eftpos Australia operates Australia's domestic debit card network, processing secure in-store, online, and mobile payment transactions on over 70 million debit cards for businesses and consumers. The network enables cost-effective debit acceptance through Merchant Choice Routing (MCR), tokenisation, QR code payments, Tap to Pay on iPhone, EMV 3DS authentication, and stand-in processing, and is integrated with mobile wallets including Google Pay and Apple Pay. Revenue is generated through interchange fees and scheme/network fees charged to financial institution members for network access and transaction processing.

Product overview

Eftpos Australia operates as part of Australian Payments Plus (AP+), a unified payment infrastructure organisation. The core product is the eftpos debit card network, available on over 70 million Australian debit cards. Supporting the eftpos network are several add-on modules including Merchant Choice Routing (MCR) for cost savings, tokenised payments, QR code payments, Tap to Pay on iPhone, and EMV 3DS for secure online authentication. The AP+ group also operates complementary payment infrastructure including the New Payments Platform (NPP) with Osko fast payments, PayID addressing, PayTo recurring payments, BPAY bill payment, and digital trust services Confirmation of Payee and ConnectID. The portfolio functions as an integrated ecosystem where eftpos handles domestic debit transactions while NPP-based services enable real-time payments and identity verification.

Differentiator

Problem solved

Functional benefit

Products and services

• eftpos Debit Card Network Australia's domestic debit card network processing secure in-store, online, and mobile debit transactions behind the scenes on over 70 million cards, providing a locally-controlled alternative to international card networks for businesses and consumers.
• Merchant Choice Routing (MCR) A debit network routing capability enabling businesses to select the lowest-cost debit card network to process their transactions; merchants enabling MCR save nearly 20% on debit transactions.
• eftpos QR Code Payments Mobile-first QR code payment acceptance capability for merchants, allowing consumers to pay by scanning a QR code at participating retailers such as quick-service restaurants and small businesses.
• Tap to Pay on iPhone with eftpos Enables merchants to accept contactless eftpos payments via NFC using only a compatible iPhone, eliminating the need for additional payment hardware; lowers acceptance barriers for small businesses.
• Google Wallet eftpos Integration eftpos functionality and Least Cost Routing on Google Wallet, enabling consumers to use eftpos for Android mobile payments and merchants to benefit from lower-cost transaction routing.

Quantifiable outcome

• Businesses enabling Merchant Choice Routing (MCR) save nearly 20% on debit transactions
• +4 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature7 records

Partnerships

Five partnerships are on record, tiered core and flagship.

• GooglecoreTechnology or Integration · 6 March 2025Australian Payments Plus worked with Google to roll out eftpos functionality and Least Cost Routing (LCR) on transactions made via Google Wallet, enabling consumers to pay with eftpos through Google's mobile wallet platform.
• J.P. Morgan PaymentscoreTechnology or Integration · 25 July 2024J.P. Morgan Payments, part of JPMorganChase, joined as an eftpos member, also joining the New Payments Platform. This strengthens diversity in the Australian payments ecosystem and furthers competition.
• Worldpay from FIScoreTechnology or Integration · 6 July 2023Global financial services technology leader Worldpay from FIS (NYSE: FIS) joined as an eftpos member to further Australian market activity, expanding the network's merchant acquiring capabilities.
• ColesflagshipStrategic or Co-development Partner · 8 March 2023AP+ and Coles announced a strategic partnership to develop a new digital wallet for Coles customers, with Beem developing the first QR payments platform for the leading Australian retailer.
• BeemcoreTechnology or Integration · 8 March 2023Beem was selected to develop the first QR payments platform for Coles in partnership with AP+, creating an innovative digital wallet solution for Australian retail.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Mastercard: Mastercard operates the global Maestro debit network and competes directly with eftpos for Australian debit volume. Mastercard's role in MCR as a higher-cost alternative debit network makes it the closest competing scheme on routing decisions.
• UnionPay: UnionPay is China's national card network that dominates debit in its home market while competing globally with Visa/Mastercard. Comparable as a government-supported domestic debit scheme with global acceptance ambitions.
• Cartes Bancaires: Cartes Bancaires is France's domestic card network, comparable as a locally-controlled debit scheme that competes with Visa/Mastercard on cost. Useful benchmark for how a mature domestic debit network monetizes transactions in a regulated environment.
• Interac: Interac is Canada's domestic debit network and the closest functional analogue to eftpos, providing a locally-controlled alternative to Visa/Mastercard with similar interchange dynamics, MCR-equivalent routing, and a national mandate from regulators.
• Visa: Visa operates the world's largest card network including Visa Debit, directly competing with eftpos for Australian debit transactions. Visa and Mastercard are the primary alternative routing options when MCR is enabled, and they compete on cost, brand, and mobile wallet integration.
• RuPay: RuPay is India's domestic card network operated by NPCI, comparable in role to eftpos as a national alternative to international schemes. Both serve as government-backed domestic networks competing on cost for the local debit market.
• STAR Network (Fiserv): STAR is Fiserv's US debit network and a parent of the Worldpay merchant acquirer that joined eftpos as a member. Comparable as a major debit network plus acquirer combination, and through the Worldpay relationship provides a peer template for eftpos's member economics.
• BankAxept: BankAxept is Norway's dominant domestic debit network, comparable to eftpos as a small country-specific alternative to international schemes. Both rely on bank-member economics and face similar cost-routing dynamics.
• Discover Pulse: Discover's Pulse network is one of the major US debit networks, competing with Visa/Mastercard for routing decisions. Relevant as a regional debit-only scheme competing in a market that has implemented MCR-like routing.

Broad incumbents

• J.P. Morgan Payments: J.P. Morgan Payments joined eftpos as a member in 2024, but is itself a global payment processor and acquirer. Comparable as a partner/member that participates in the eftpos network while operating broader payment services that can either complement or compete with the scheme.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/eftpos-australia

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Eftpos Australia