PayPal is latest company to join the eftpos membership, and is set to connect to eftpos’ real-time payments infrastructure, the eftpos Hub, in 2016, a statement issued by eftpos said.

PayPal Australia vice-president and managing director Libby Roy said: “Our membership of eftpos takes us one step closer to giving consumers the ability to use any funding mechanism through PayPal to transact securely and conveniently online and via mobile devices.”

“We’re very happy to be working together to enable eftpos payments through the PayPal network,” Ms Roy added.

Eftpos managing director, Bruce Mansfield, said the company will work with PayPal to ensure eftpos is available to consumers and merchants as a payment option for online transactions.

“We are very pleased that PayPal has decided to join eftpos and directly access the real-time processing capabilities of the eftpos Hub infrastructure and other benefits of being a member.”

He added: “Eftpos is happy to work with PayPal to make eftpos payments available to more Australian consumers and merchants on new platforms."

Since its launch in September 2014, the eftpos Hub now processes close to 43 million eftpos CHQ and SAV transactions per day.

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