Payments company Eftpos has announced that its digital identity business, connectID is now live and running as a fully owned subsidiary of Eftpos and as a standalone fintech company.
ConnectID 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.
It has been designed to work within the federal government’s Trusted Digital Identity Framework (TDIF) and the banking industry’s TrustID framework.
Although the Australian government has its own digital identity solution with myGovID, Eftpos has previously said its solution could provide a “smoother, faster, and more secure onboarding experience, including for government services”.
Eftpos has also assured that connectID does not store any identity data.
“Identity service providers store consumer identities and take responsibility for providing this secure information only under the consent of the identity owner,” the company explained.
As part of the launch, Eftpos also revealed it was working with global identity and authentication firm SecureKey to further develop the technology.
Eftpos CEO Stephen Benton said with connectID now live, the focus would be to expand the fintech firm’s range of partner organisations, as well as to become the first non-government accredited operator of a digital exchange in Australia.
“ConnectID is collaboratively working with governments, businesses, online merchants, banks, and other identity providers with a view to building identity into our national payments infrastructure, as well as other commercial applications for all Australians and Australian businesses,” he said.
The launch of connectID follows a number of trials that Eftpos kicked off last year with 20 “well-known” Australian brands, as well as Australia Post.
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