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Eftpos Snaps Up BeemIt To Expand Digital Payments

SYDNEY: Debit card provider Eftpos has agreed to buy Australian payments app Beem It, which is claimed to allow users to send and receive money using their phone, regardless  of which bank they use.

Beem promotes the app as allowing “consumers to send and receive money using their phone in seconds, regardless of who they bank with.”

Eftpos CEO Stephen Benton said the company has access to “hundreds of thousands of Australian merchants” and “millions of consumers”.

“Australians are rapidly moving much of their daily lives to mobile – and Beem It is a great Australian-owned and operated option,” he said.

“The payment system will remain wallet-agnostic and be the rails that support a variety of digital wallets.”

Benton added that in the future Beem It could be utilised to create “compelling innovations for consumers, merchants and banks to enhance digital commerce

Eftpos says Australia has so far seen 1.4 million downloads of the BeemIt App.

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