Two major banks are now routing their ATM transactions via eftpos’ new centralised payments infrastructure, the eftpos Hub, with others expected to follow in coming months.
According to eftpos Managing Director Bruce Mansfield, the eftpos Hub enables industry participants to move ATM traffic away from the old and complex bilateral network and more easily upgrade their ATM fleets for innovation and changes such as the imminent move to EMV for better security against fraud.
Mr Mansfield says the transition of ATM traffic to the eftpos Hub marks a major milestone in the company’s transformation program, providing the industry with local, centralised infrastructure for processing transactions other than standard eftpos CHQ and SAV transactions at point of sale.
“The eftpos Hub is a cost-effective, reliable, secure and real-time platform that provides the industry with new processing opportunities like ATM,” he said.
“This is particularly important given the industry’s drive to move their ATM fleets and transaction processing to EMV security by the end of 2016.”
Since being launched in September 2014, the Hub is already processing almost two million eftpos CHQ and SAV transactions a day, and it recently processed its 200 millionth.