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Eftpos Product Roadmap 2021 Update Transforming the Payment Experience for Australian Consumers and Merchants

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Eftpos Product Roadmap 2021 Update Transforming the Payment Experience for Australian Consumers and Merchants eftpos Product Roadmap 2021 Update Transforming the payment experience for Australian consumers and merchants eftpos Product Roadmap | March 2021 1 Contents 5 eftpos Digital Strategy 5 Transforming the Payment Experience 12 eftpos Product Roadmap 2021 16 eftpos Mandates Copyright, confidentiality and disclaimer Information in this document is the confidential information of eftpos Payments Australia Limited and is subject to change without notice. No part of it may be copied, reproduced, translated, or reduced to any electronic medium or machine-readable form without prior written permission from eftpos Payments Australia Limited. Written and published in Sydney, Australia by eftpos Payments Australia Limited. ABN 37 136 180 366. ©2021 eftpos Payments Australia Limited. All Rights Reserved. 2 Consolidation Mandate Document 2021 eftpos Digital Strategy eftpos pioneered the point of sale retailer payments There are four pillars to the Digital Strategy: landscape 35 years ago and is now re-imagining innovative payment experiences to support Australia’s digital economy. 1. Grow core payment solutions Driving domestic transaction growth As such eftpos’ Digital Strategy aims to drive competition 2. Build digital payment capability and services in Australian digital commerce, with home-grown payment Expanding into new digital payment flows options that benefit consumer lifestyle choices and grow The eftpos digital product strategy has local businesses. 3. Transform eftpos beyond payments Innovating on top of current payment rails and experiences The Digital Strategy is about continuing to move eftpos been devised with an Australian focus, from a point of sale company to a key player at the 4. Optimise our capability centre of the digital ecosystem. Importantly it is about Changing the way we work to deliver best value added creating world-class innovations to creating greater value, ease and security for consumers products. and businesses by enabling compelling innovations for compete against global players. eftpos Members and partners that enhance the digital These pillars are the linchpins that will drive growth by commerce experience. building out secure and cost-effective payments options, and adjacent capabilities with new and differentiated digital It is about helping Members and partners help their customers. commerce experiences. We are transitioning eftpos from a card present retail business to The Digital Strategy has five key product elements at present: a major player at the centre of Australian digital commerce. – Stephen Benton Mobile Wallets, eCommerce Digital Identity APIs and QR Acceptance Chief Executive Officer, eftpos including Beem It (connectID) Fintech Access & Experiences Platform Transforming the payment experience Australians are increasingly living digital lives on different devices. The eftpos Digital Strategy centres on transforming the payment experience for tomorrow with a shift from payment transactions to digital customer experiences, solving for the needs of Australian consumers and merchants. Our aim is to help Australian merchants and consumers move from what is today a complex and confusing payments world with inconsistent customer experiences across channels, to one that is simpler, more secure, data rich and relevant to their modern lifestyles. For Australian consumers, the strategy means delivering an easier way to take care of life’s payment experiences that is seamless, swift, safe and affordable. For Australian merchants, the strategy means delivering an easier way to take care of their business growth that is low cost, responsive, profitable, loyalty driven and secure. eftpos Product Roadmap | March 2021 5 eftpos Digital Strategy aims to improve the daily lives of consumers and merchants Consumers Merchants Stay safer in the digital economy Better cost management • Tokenisation means no one sees your card data • eftpos aims to offer low cost propositions in both POS and digital for today and tomorrow • connectID verifies identity at the touch of a button Better safety in the digital economy Easier way to pay • connectID verifies customer identity, reduces fraudulent transactions • Fast, real time • Tokenisation means merchants hold no card data • Omnichannel • Net lower decline rates, higher authorisation rates protects cash flow Better money management • Use your own money Better customer experiences and relationships • Real time balances • QR Acceptance & Experiences Platform will be the eftpos technology • More for your money – real time offers solution that enables new, differentiated customer experiences: a simpler, faster experience across payment channels. All in one place • Links to loyalty and rewards • Digital identity • split bills • digital receipts • requests for payments • Digital Wallet will bring together payments, digital identity, loyalty = Low friction, easier, safer, faster, seamless & rewards, electronic receipts, QR codes, deposits and withdrawals for unparalleled ease and convenience Better data • Know your customer in a deeper way with better insights 6 eftpos Product Roadmap | March 2021 eftpos Product Roadmap | March 2021 7 A day in the life of Hannah 3D 3D S2 S2 morning 10:30am 10:45am 11:00am 11:30am 11:35am Receives instant payment Grabs coffee and brunch Catches bus home Buys furniture online Books flatpack assembly Books and pays for vehicle for completed shift using using instant pay person for 2:00pm using through car share service API & Fintech Access + Mobile Wallet API & Fintech Access + Mobile Wallet eftpos debit card to module in digital wallet + QR Code + QR Code eCommerce + API & Fintech Access eCommerce + Digital Identity enable payment + Digital Identity Mobile Wallet + Digital Identity (online using laptop) Deposits & Withdrawals (D&W) afternoon 1:00pm 1:30pm 2:15pm 2:20pm Picks up vehicle using Splits bill with friend for lunch Verifies online date’s Books cinema tickets using Receives cash back digital identity - car is after picking up flatpacks personal details cinema module in wallet (passed tipping point on unlocked remotely loyalty program) Mobile Wallet + API & Fintech Access Digital Identity Mobile Wallet + API & Fintech Access + eCommerce Mobile Wallet + Digital Identity API & Fintech Access + QR Code 4:30pm 7:00pm 10:00pm midnight 1:15am Pays flat pack assembly Shows age verification when Shows age verification Pays for taxi home with Orders late night pizza person for putting buying wine at the cinema entering a nightclub mobile wallet delivery with flatmate furniture together Mobile Wallet + QR Code + Digital Identity Mobile Wallet + QR Code + Digital Identity Mobile Wallet + eCommerce Mobile Wallet + eCommerce Mobile Wallet + Digital Identity + QR Code + Digital Identity + Digital Identity + QR Code eftpos Product Roadmap | March 2021 9 “Together with our Members and other participants in the payment ecosystem, we are making it easier for Australians to manage their own money and live a better life in the digital world.” – Dave Ellett, Chief Commercial Officer, eftpos connectID commercial In-app MND Payments launch Phase 1 Beem It Beem It Fraud Online Deposits expansion Merchant Scoring and Withdrawals planning TDIF Offers launch (D&W) accreditation Production eftpos Secure pilot launch Multi-Network connectID Debit (MND) Scheme launch payments 2021 2022 Onwards eftpos Product Mobile Wallets Prioritised development of integrated experiences such as: Roadmap 2021 eCommerce • Digital receipts The updated eftpos Product Roadmap aims to • Wallet based multiple loyalty scheme management provide certainty, focus and definitive timeframes Digital Identity • Product level blocking in realising the eftpos Digital Strategy, premised on the pillars of Grow, Build, Transform and • Real time display of funds availability in wallets Optimise. It also highlights to eftpos Members API and Fintech Access • Digital warranty and partners, the opportunities for innovation and collaboration with eftpos. • Gift card integration and real time balance QR Acceptance & Experiences Platform The eftpos Product Roadmap is supported by a series of mandates, driven by the proposed Full MND digital readiness across eftpos amalgamation of the three domestic payments Schemes (eftpos, BPAY and NPP), known as Data Disputes API QR Acceptance “Consolidation”. The new mandates aim to Commercialisation available & Experiences codify the delivery of the eftpos Product Partnerships Platform Roadmap and the value it can bring to Australia. connectID Trust ID QR Acceptance These initiatives are already well advanced but vendor technology accreditation & Experiences the mandates provide more certainty around integration with Platform delivery dates. broker system The eftpos Digital Strategy and Product Roadmap have been devised to help our national industry and local talents create world-class, Australian- focussed innovations. All with the aim to foster 21.02 21.04 22.02 22.04 robust competition against global players, and Release Release Release Release transform the Australian payments market towards even safer, simpler and higher value- QR Acceptance & added digital experiences. Experiences Platform commercialisation That’s good for Australia. 2021 underway 2022 2023 onwards Technical Roadmap Ongoing QR Code controlled pilot API Gateway Switch to Issuer Fraud Scoring Fraud Scoring D&W POS QR Acceptance ongoing launch implementation Phase 2 launch Mandate & Experiences development (to be agreed) Platform eftpos Secure launch eftpos Secure MND Issuers and Acquirers to
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