Bpay, Eftpos And NPP Reveal Merger Plan
CANBERRA: Australia’s major three payment infrastructure providers – Eftpos, BPay and NPP Australia – have announced plans to merge.
“In Australia, international card schemes and multinational technology providers are dominating the payments sector,” the trio said in a statement.
“Change is needed to ensure that the Australian payments system supports the best interests of consumers and businesses, through increased choice and competition.”
The merged body is – for the moment – called “NewCo” but presumably a somewhat more imaginative title will eventually emerge.
In the meantime NewCo is expected to provide a “multi-service infrastructure” and a unified roadmap that is responsive to change, while continuing the ethos of “low cost of acceptance”, the partners say.
However they add that, for the moment at least, Eftpos, BPay and NPP will continue to be “preserved as distinct operations”.