Australian stores can now make more money with a new solution from FreedomPay.
This initiative integrates EFTPOS Least Cost Routing into their payment platform, that means stores can pay less for each transaction and save money on card processing. This, in turn, allows them to retain more funds in their bank accounts.
The timing of this enhancement to FreedomPay’s PCI P2PE integrated payments platform is crucial, considering the Reserve Bank of Australia (RBA) has reported a 77% increase in the use of credit and debit cards. Many vendors are compelled to pass on high merchant fees to customers to mitigate costs.
Tony Hammond, Senior Vice President at FreedomPay, emphasized the significance of this news for merchants aiming to enhance security and lower their card processing costs. He stated, “This milestone reflects our dedication to empowering merchants with cutting-edge solutions that not only enhance the customer experience but also drive operational efficiency and cost savings.”
With the introduction of EFTPOS Least Cost Routing, FreedomPay further solidifies its commitment to delivering innovative payment solutions. This includes integration with over 1000 Electronic Cash Register (ECR) and point-of-service (EPOS) applications, enabling merchants to offer fully integrated contact and contactless transactions for EFTPOS. Additionally, the platform provides support for all popular international card schemes.
A notable advantage of FreedomPay’s PCI P2PE solution lies in its ability to significantly reduce the time and costs associated with Payment Card Industry Data Security Standard (PCI DSS) compliance. Merchants can now benefit from enhanced security features while simultaneously lowering their overall card processing costs. The integration of EFTPOS Least Cost Routing aligns with FreedomPay’s commitment to providing comprehensive solutions that address the evolving needs of the payments landscape.
FreedomPay’s omnichannel solution further reinforces its position as an industry leader, seamlessly integrating with all sales channels to deliver a consistent and user-friendly experience across the entire merchant enterprise. This omnichannel approach enables merchants to enhance customer engagement and satisfaction, regardless of the chosen sales channel.
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