eftpos, one of Australia’s leading payment providers, aimed to introduce QR code payments into the Australian market as a low-cost, real-time payment solution. However, to ensure the concept was viable, they needed to create a proof of concept (PoC) for a QR code orchestration platform, capable of integrating with their existing infrastructure. This platform needed to support both static and dynamic QR codes, providing flexibility for merchants and customers, all while maintaining regulatory compliance and secure transactions.
To achieve this, eftpos teamed up with Azupay Innovation Labs to design and deliver the PoC for the eQR platform. Their shared goal was to demonstrate the feasibility of QR codes as a payment option, ensuring seamless integration with the eftpos API Gateway and adherence to industry standards.
The Challenge
The key challenges of the project included:
- Seamlessly integrating the QR code payment system into eftpos’ existing infrastructure
- Supporting real-time transaction processing
- Ensuring the system met all regulatory and security standards
- Providing flexibility through static and dynamic QR codes
- Delivering a low-cost, scalable solution for merchants
The Solution
Rapid Prototyping and Integration: Azupay’s expertise enabled quick development of a QR Code orchestration platform that integrated smoothly with eftpos’ API Gateway. This allowed for real-time transaction processing, with minimal disruption to merchants’ existing systems, making QR code adoption seamless and straightforward.
Interoperability with Global Standards: The solution ensured compatibility with international QR code standards (e.g., NETS, NPCI), positioning eftpos to expand the platform for use beyond Australia, supporting cross-border transactions.
Cost-Effective and Scalable Design: Designed to be low-cost for merchants, the PoC demonstrated its scalability by handling increased transaction volumes and complex use cases. This enabled merchants of all sizes to easily adopt and expand their payment capabilities.
Security and Compliance Focus: With security at the forefront, the PoC ensured full regulatory compliance and fraud prevention. All transactions were secure and fully traceable, adhering to industry best practices for payment safety.
The successful collaboration between Azupay Innovation Labs and eftpos led to the delivery of the eQR proof of concept. This initiative demonstrated the potential of QR codes as an effective, scalable, and secure real-time payment solution. The PoC’s success positions eftpos to introduce eQR payments into the Australian market, offering merchants and consumers a flexible, cost-effective alternative to traditional payment methods while ensuring full compliance with global standards and regulatory requirements.
