NFC TIMES Exclusive – Australia’s largest domestic debit network, eftpos, plans to launch its overdue tokenization service commercially by the second quarter, likely serving at least one of the country’s big four banks for its HCE mobile wallet and one or more of the “Pays” wallets, such as Android Pay and possibly Apple Pay, NFC Times has learned.
Eftpos has been testing its token service provider technology for months, and when it launches the service, the domestic debit network will compete with token service providers from the major international card brands, Visa and Mastercard, to tokenize debit cards that could be used for NFC mobile payments.
The debit scheme had originally planned to launch the TSP last year, as NFC Times reported. A spokesman for eftpos told NFC Times it has been doing “substantial” testing of the tokenization service, and it is expected to launch commercially by May. Eftpos is using technology from Netherlands-based Bell ID, which has been acquired by Silicon Valley chip technology supplier Rambus.