by Rushali 
Efptos, Australia’s top national debit infrastructure operator has been announced as the newest member of the Hedera Governing Council.
Efptos will become the 17th member to join the council and it will be the first Hedera’s network node operator in Australia. Other council members include Google, IBM, Boeing, and Deutsche Telekom.
EFTPOS is a type of payments technology used around the world, it’s also the brand of a specific system used for such payments in Australia and New Zealand.
Eftpos’s CEO, Stephen Benton, explained it’s Hedera’s engagement as a core component of its digital payments innovation strategy, he predicts that crypto technology will lead the future of micropayments in the Australian economy.
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He said, “We are excited to participate in the development of next-generation micropayments technology that has the potential to open up entirely new ways of conducting business for Australian enterprises and enable compelling new experiences for Australian consumers.”
The news follows a successful proof-of-concept last year conducted by Eftpos and Hedera into micropayments, with the initiative piloting frictionless sub-cent transfers using Eftpos’ API and Hedera’s Australian dollar stablecoin.
Eftpos Entrepreneur in Residence Rob Allen said:
“By combining the new Eftpos API infrastructure with a consumer wallet-based experience, digital identity, and an AUD-based stablecoin using Hedera’s super fast, secure, and low-cost distributed network, the PoC’s objective was demonstrably achieved.”
He further added, “Use cases like this simply are not possible on other public blockchains. Along with several partners, we are now exploring a variety of use cases that this combination of technologies enables and the options to commercialize them.”
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The CEO and Hedera Hashgraph’s co-founder, Mance Harmon said that this collaboration between Eftpos and other members will make “micropayments and other innovative financial models a reality for millions of consumers and billions of IoT devices” in Australia.
Hedera has developed in Australia with a government-backed supply chain traceability platform launching on Hedera’s Hashgraph in September 2020.
