- Australian Payments Plus joins Hedera’s Governing Council, processing 3.9 billion transactions by 2022.
- AP expands its payments ecosystem with Hedera’s technology, seeking to innovate in security and transactional efficiency.
In the distributed ledger technology (DLT) sector, Australian Payments Plus (AP ), a prominent entity in Australia’s payments sector, has established a pivotal point by joining the Hedera Governing Council in 2022. This integration signals significant progress in the adoption of blockchain technology in the area of financial transactions and payments.
Hedera’s Governing Council member, eftpos, joined with BPAY Group and NPP Australia to form Australian Payments Plus (AP ). As a result, AP is now a member of Hedera’s Governing Council, effective immediately.
Welcome to the #Hedera Governing Council, Australian Payments Plus (AP+) 🇦🇺❤️ https://t.co/vKoJwYxiUa pic.twitter.com/C0Sjxpn9dS
— HBAR Foundation (@HBAR_foundation) January 26, 2024
AP, born out of the merger of eftpos, BPAY Group and NPP Australia, has established itself formidably in the Australian market, working with over 150 entities. In 2022, AP handled an impressive 3.9 billion transactions, demonstrating its operational strength and dominance in the Australian financial arena.
As a public interest-focused entity, AP is structured with a diverse membership, including major national and international banks in Australia, high caliber merchants, payment service providers and processors, as well as groundbreaking brands that focus on specific markets and products.
The addition of AP to the Hedera Governing Board is a significant step forward in merging blockchain technology with traditional payment systems, bringing benefits such as increased transparency, enhanced security and transaction management efficiencies. This alliance portends a future of innovation in digital payments.
The participation of FIS® Worldpay, a titan in financial services technology and Hedera Board member, as a member of Australia’s domestic debit network, eftpos, highlights the growing importance of strategic partnerships in this sector.
Worldpay customers now benefit from eftpos’ capabilities to make secure online payments, an essential step in fortifying security in Australia’s digital economy.
May Lam, Chief Information Officer of AP , has emphasized the paramount importance of distributed ledgers for payment entities such as AP . AP’s adoption of DLT technology aims to exploit the full potential of this development to revolutionize the organization, with multiple initiatives underway to capitalize on the wave of innovation offered by Hedera.
The integration of AP to Hedera’s Governing Council and its collaboration with entities such as FIS®’s Worldpay is a clear indication of how blockchain and DLT technology is reshaping the payments and financial transactions sector.
1/ We are excited to announce that @Hitachi_US has joined the #Hedera Council, bringing with it industrial solutions expertise and the aim to begin creating proof-of-concepts for end-to-end #SupplyChain and #sustainability solutions in the next year.https://t.co/0cVAer75ua
— Hedera (@hedera) January 15, 2024
The collaboration between AP and Hitachi on the Hedera Council marks the beginning of a new phase in the adoption of blockchain technologies. While AP is dedicated to transforming the financial transaction arena in Australia, Hitachi is applying its technology expertise to forge cutting-edge blockchain solutions in a variety of fields. Together, they demonstrate that strategic partnership and technological advancement are necessary for digital transformation in different industries.
The commitment of these organizations to innovation and sustainable development portends a hopeful future for DLT technology implementation. With AP at the forefront of innovation in payment systems and Hitachi extending the horizons of blockchain in the industrial sector, the Hedera Council establishes itself as a starting point for technological progress and tangible solutions to contemporary and future challenges.