Co-operative Bank has rolled out online EFTPOS to enable its internet banking and mobile app customers to pay quickly in New Zealand.

The new service allows the bank’s customers to carry out online shopping, and pay using their own money from their own transactional account instead of using a credit card.

After adding items to their shopping cart at an online store that accepts online EFTPOS, customers can choose Online EFTPOS as the payment method.

Later they get an authorisation message to their mobile banking application or internet banking once they have confirmed the payment.

The online EFTPOS solution has been developed by New Zealand-based digital payments provider Paymark and is backed by the company that delivers EFTPOS to millions of New Zealanders.

Paymark CEO Liam O’Reilly said: “Having The Co-operative Bank on board means we can extend the service to more New Zealanders and give those customers more control over their money and spending.

“As retail moves more into the online space it’s vital New Zealanders get to move with it, to get the best of what’s on offer.”