Rambus partners with Eftpos for Android Pay in Australia
Rambus says TSP enables Eftpos to maintain consumer data securely through tokenisation, which allows the replacement of sensitive data with unique reference numbers so information is not compromised.
In turn, Android Pay lets Eftpos cardholders from participating banks and credit unions use their eligible smartphones for purchases in-store and within Android apps.
Pali Bhat, VP of product management, payments, Google, says: “People with an Android device can pay at almost 800,000 contactless payment terminals in Australia.”
According to Rambus, Eftpos has more than 40 million debit cards distributed across Australia, and its members can now use those cards in Android Pay for transactions with nine financial institutions.
To tokenise a payment transaction, the primary account number (PAN) is sent to a “token vault” – a centralised server stored in a PCI-compliant environment provided by the payment network.
Last month, Rambus teamed up with Eftpos to help support transactions with Apple Pay for users in the country.