connectID is a new digital identity solution business, running as a standalone FinTech and fully-owned eftpos subsidiary.
Its aim is to make it easier for Australians to share, store and receive personal identity information online.
Additionally, eftpos revealed it was working with SecureKey to develop the technology.
“For the connectID business to keep advancing and growing, it needs to keep running like a nimble FinTech at an operational level to pursue its goal of creating a national identity infrastructure for all Australians,” eftpos CEO, Stephen Benton says.
“connectID is collaboratively working with governments, businesses, online merchants, banks and other identity providers with a view to building identity into our national payments infrastructure, as well as other commercial applications for all Australians and Australian businesses.”
eftpos Entrepreneur in Residence, Rob Allen says they are bringing the same trusted capability that eftpos has in payments into identity, by building and subsequently operating national digital identity infrastructure.
“In Australia, there’s a real need to facilitate identity verification methods to help reduce the instances of fraud and identity theft and improve ‘digital trust’ between customers and vendors,” Mr Allen says.
“We aim to seamlessly combine identity and payments transactions within the same flow and create even better customer experiences.”
Founder and CEO of SecureKey Greg Wolfond adds: “As digital identity standards and ecosystems rapidly develop and evolve, ensuring the security of users’ information while enabling the convenience of this technology remains a top priority.”
connectID has applied to become the first non-government accredited operator of a digital identity exchange in Australia.
It’s said that interoperability is key to the connectID solution and is designed to work within the Federal Government’s Trusted Digital Identity Framwork (TDIF) and the financial industry’s TrustID framework.
Visit eftposaustralia.com.au for more information.
