FIS’ electronic funds transfer switching platform is set to be the main part of the hub infrastructure, replacing Australia’s current bilateral networks and processing eftpos transactions each day across the country.
The eftpos payments hub is set to be operational in 2014.
FIS is a provider focused on payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. FIS serves 14,000 institutions in 100 countries.
eftpos is a debit card system in Australia, accounting for about 70 percent of debit card transactions. 6 million eftpos transactions are made each day at 500,000 merchants, using 760,000 eftpos terminals.
In recent news, FIS has launched the FIS Active Analytics suite which enables financial institutions to enhance their customer segmentation and optimised pricing, as well as marketing and cross-selling services.
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