Rambus, a US-based mobile payments company, has joined forces with Australian domestic debit network eftpos to support Apple Pay.
With the integration of Rambus Token Service Provider (TSP) technology, eftpos allows participating members to use its debit cards with Apple Pay for increased protection.
Rambus TSP technology replaces sensitive information with unique reference numbers.
When eftpos customers use debit cards with Apple Pay, a unique device account number is assigned and stored in the secure element of the device.
Each transaction will be authorized with one-time unique dynamic security code.
Rambus CTO of payments division Chakib Bouda said: “With millions of eftpos-only debit cards distributed across Australia by its members, eftpos is the country’s most popular debit payment method.
“This partnership allows more than a million consumers to enjoy secure mobile payments using Apple Pay, leveraging our proven EMV tokenization software for trusted transactions.”
eftpos acting CEO Paul Jennings added: “Our partnership with Rambus gives us the ability to accelerate our secure mobile payments strategy and support Apple Pay.
“We are excited to move from our traditional card based payment method into mobile, offering our members in Australia the opportunity to benefit from the convenience and security of Apple Pay.”