eftpos Payments Australia is collaborating with global distributed ledger company, Hedera Hashgraph, on a micropayments proof-of-concept that aims to create a seamless Australian payment experience for web users by providing an alternative to traditional online paywalls and subscriptions.
eftpos CEO, Stephen Benton, said the integration with Hedera is part of eftpos’ digital payments innovation strategy to better meet Australians’ payment needs into the future, and aims to demonstrate how micropayment transactions could be used for online content such as pay per page content or streaming services on a pay-per-second basis.
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Mr. Benton said that in the proof of concept, eftpos will test the capability of a digital Australian dollar stable coin, enabled by the Hedera Consensus Service, allowing consumers to load a wallet with a few dollars and then pay for web-based content seamlessly.
“As the leading provider of debit card payments in Australia, eftpos is well positioned to provide a new way for Australians to interact with the web via dollar-based micropayments,” said Mr. Benton. “We are excited to pilot Hedera Hashgraph to show what is possible with an innovative, improved online business model.”
The work will be led by Robert Allen, eftpos’ Entrepreneur in Residence, who has a focus on payments innovation and said the proof of concept would help eftpos explore many other use cases for the technology.
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