Eftpos has announced the purchase of Australian payments app Beem It from the Commonwealth Bank of Australia, the National Australia Bank, and Westpac.
The decision by the Australian debit payments company to purchase Beem It for an undisclosed amount is part of its plan to "continue to make inroads in the digital space".
"We are very excited to complete this purchase as a key element to Eftpos' strategy to diversify and move further into the digital ecosystem," Eftpos CEO Stephen Benton said.
"Australians are rapidly moving much of their daily lives to mobile and Beem It is a great Australian-owned and operated option for them to embrace digital payments."
In August, Eftpos made its first play in the digital payment realm with the rollout of its digital payment service[1] to banks and retailers.
Prior to that, the payments company teamed up with distributed ledger firm Hedera Hashgraph to develop a micropayments proof-of-concept[2] in hopes it could be used as an alternative payment to monthly subscriptions or paywalls.
At that time, Eftpos also announced it was teaming up with Australia Post to trial a new digital identity solution[3], ahead of its official launch before the end of the year.
Known as connectID, the service acts as a broker between identity service providers and merchants or government agencies that require identity verification, such as proof of age, address details, or bank account information.
The connectID solution, like the postal service's Digital ID, was designed to work within the federal government's Trusted Digital Identity Framework (TDIF)[4] and the banking industry's TrustID framework.
The trial followed a proof-of-concept with 20 other "well-known" Australian brands earlier this year.