Commonwealth Bank introduces next generation EFTPOS to merchants
21 July 2003
Commencing today, the Commonwealth Bank is enabling retailers to offer a wide variety of electronic products over-the-counter via XPOS.
XPOS revolutionises EFTPOS by allowing merchants to generate additional sales revenue from their EFTPOS terminal. An Australian first, XPOS turns an EFTPOS terminal into a virtual store allowing merchants to sell products such as pre-paid mobile recharge, calling cards, tolling passes, cinema tickets, attraction tickets, magazine subscriptions, electronic gift cards and much more. Products are delivered through the EFTPOS terminal in the form of a printable voucher or magnetic strip gift card.
This represents significant benefit to the merchant, eliminating up-front capital costs and stock concerns such as running out of stock, theft and shelf space, because there is no need to hold physical product.
"XPOS is the most comprehensive and affordable electronic service delivery solution on the Australian market, said the Bank’s Executive General Manager, Working Capital Services, Bruce Munro. "Imagine being able to buy a cinema ticket at your local newsagent, pharmacy, florist, supermarket or service station."
Consumers can now buy everyday products and services that were previously available only from dedicated outlets, as part of their normal shopping routine.
"As part of the XPOS offering the Commonwealth Bank will also be introducing a bill payment facility, providing a convenient one stop experience for customers wanting to pay their bills over the counter," Mr Munro said.
One of the unique benefits of XPOS is the ability to add new products and services as they become available, something competitors cannot replicate. The Bank is continually adding new cinema and attraction offerings as well as a number of other products that will be delivered to XPOS merchants in the near future.
XPOS is possible through the unique partnership the Bank has formed with Intellect Australia who developed the XPOS platform and their electronic service provider partners, Touchcorp and E Com Industries, who provide the XPOS services. The selection of products offered by Village cinemas and CityLink are unique to Touchcorp.
CityLink CEO, Brendan Bourke said: "Toll road customers want convenient payment options in their own communities and our partnership with Touchcorp has delivered just that."
"CityLink’s parent company, Transurban Group, will now look to build on this success in Victoria for future toll road projects in New South Wales," Mr Bourke said.
Virgin Mobile’s National Sales Manager, Marco Miranda, said: "We’re delighted to offer our prepaid customers greater access to recharge vouchers through the XPOS network. XPOS provides Virgin Mobile with mass-market coverage, whilst reducing the current distribution fees for electronic recharge.
"Add this to the ability to provide real-time voucher promotion messaging and the future ability to connect customers through XPOS, and you have yourself a dynamic distribution platform. These great new changes are being introduced as part of our commitment to delivering the best all round mobile phone service," Mr Miranda said.
XPOS will be supported by a consumer marketing campaign delivered by Touchcorp to help promote consumer awareness of the service and deliver additional sales for retailers.
More information can be found at commbank.com.au/eftpossolutions