- Australian Payments Plus will join Hedera’s Board of Directors and process 3.9 billion transactions by 2022.
- AP is expanding its payments ecosystem with Hedera technology, in an effort to innovate in security and transaction efficiency.
In the distributed ledger technology (DLT) sector, Australian Payments Plus (AP), a prominent entity in the Australian payments industry, has reached a pivotal point by joining the Hedera Governing Council in 2022. This integration signals significant progress in the adoption of blockchain technology in the field of financial transactions and payments.
Hedera’s board member, eftpos, joined BPAY Group and NPP Australia to form Australian Payments Plus (AP). As a result, AP is now a member of the Hedera Board of Directors with immediate effect.
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
Created from the merger of eftpos, BPAY Group and NPP Australia, AP has established a formidable presence in the Australian market, working with more than 150 entities. In 2022, AP processed a whopping 3.9 billion transactions, demonstrating its operational strength and dominance in the Australian financial arena.
As a public interest-oriented entity, AP is structured with a diverse membership including major national and international banks in Australia, high-quality merchants, payment service providers and processors, as well as pioneering brands focused on specific markets and products.
The addition of AP to Hedera’s board of directors is an important step forward in merging blockchain technology with traditional payment systems. bring benefits such as increased transparency, improved security and transaction management efficiency. This alliance portends a future of innovation in digital payments.
The participation of FIS® Worldpay, a titan in financial services technology and member of the Hedera board of directors, as a member of the Australian domestic debit network, eftpos, highlights the growing importance of strategic partnerships in this sector.
Worldpay customers now benefit from eftpos’s capabilities to make secure online payments, an essential step in strengthening security in Australia’s digital economy.
May Lam, Chief Information Officer of AP, has emphasized the great importance of distributed ledgers for payment entities such as AP. AP’s adoption of DLT technology aims to unleash 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 into Hedera’s Board of Directors and its collaboration with entities such as Worldpay from FIS® is a clear indication of how blockchain and DLT technology is reshaping the world. payments and financial transactions sector.
1/ We are excited to announce that @Hitachi_US has joined the #Hedera Council, bringing expertise in industrial solutions and the goal to begin creating proof-of-concepts in the coming year for end-to-end #SupplyChain and #sustainability solutions .https://t.co/0cVAer75ua
— Hedera (@hedera) January 15, 2024
The collaboration between AP and Hitachi in the Hedera Council marks the beginning of a new phase in the adoption of blockchain technologies. While AP is committed to transforming the financial transactions arena in Australia, Hitachi applies its technological expertise to develop advanced blockchain solutions in various areas. Together they demonstrate that strategic partnership and technological advancement are necessary for digital transformation across industries.
These organizations’ commitment to innovation and sustainable development portends a hopeful future for the implementation of DLT technology. With AP at the forefront of innovation in payment systems and Hitachi broadening the horizons of blockchain in the industrial sector, the Hedera Council is establishing itself as a starting point for technological advancements and tangible solutions to contemporary and future challenges.