cross-posted from: https://community.hackliberty.org/post/3049
Australia’s major banks: ANZ, CBA, NAB and Westpac, are happy with EFTPOS’ payment system known as ConnectID to provide the national digital ID.
What EFTPOS (stylized as, “eftpos”) stands for is, “electronic funds transfer at point of sale” – (if you’re in Singapore, you might know it as “NETS”). It’s an electronic payment system involving electronic fund transfers based on the use of debit or credit cards, at payment terminals located at points of sale.
Australia’s Payments Plus (AP+) – described as a broker for digital identity initiatives both behind EFTPOS and BPAY – made the announcement. And BPAY is an Australian electronic bill payment company working with online financial institutions, mobile or telephone banking with registered billers.
With that information and “banking cabal” circle complete – let’s see what Australia’s big bank’s digital ID actually means – especially for those who cannot escape it.
It’s supposed to be a “seamless online identity verification experience” – as AP+ CEO Lynn Kraus put in, in quotations cited by biometrics industry-friendly media outlets.