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EFTPOS hits one billion transactions in 6 months in Australia

EFTPOS transactions continue to surge in Australia, with one billion transactions processed in the six months to the 31st of December 2010.

EFTPOS Australia Payments Limited (EPAL), the company that manages EFTPOS, released unaudited data this week that showed the network processed more than one billion transactions in the December half, representing approximately $65 billion in total transactions. In December 2010 alone, EFTPOS processed more than $12.5 billion in payments and over 200 million transactions.

EPAL Managing Director, Bruce Mansfield, was buoyant about the future for the EFTPOS brand in Australia.

“The growth of EFTPOS in our core segment, point-of-sale purchases, is very encouraging and a strong endorsement of the role EFTPOS plays in Australia’s payment system,” Mr Mansfield said.

Mr Mansfield confirmed EPAL was in consultations with banks, retailers and other industry participants ahead of changes to interchange fees linked to EFTPOS. However, a decision had not yet been reached on a new interchange fee model.

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David Olsen

David Olsen

An undercover economist and a not so undercover geek. Politics, business and psychology nerd and anti-bandwagon jumper. Can be found on Twitter: <a href="http://www.twitter.com/DDsD">David Olsen - DDsD</a>

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