Coles, Woolworths roll out QR codes as future of rapid payments

Paying for a Coles or Woolies shop via a QR codes will rollout before Christmas both online and in stores. Here’s how it will work.

Australians will soon be able to use their phones to pay by QR code with Eftpos.

Australians will be able to start paying for their shopping using QR codes before Christmas, after the repurposing of the QR code system that served the ­nation well during the pandemic.

QR codes will now be an ­Eftpos payment method, with banks and fintechs among those jumping aboard to offer it.

In what is a major revamping of Australian retail payments, Eftpos said Commonwealth Bank, National Australia Bank, Coles, Woolworths, and other retailers would join its QR code payments scheme, with Azupay, Beem It and Merchant Warrior partnering to provide the platform gateway, known as eQR.

Eftpos has confirmed the QR code payment rollout will begin before Christmas, although its completion will take time.

Eftpos originally announced its intention to use QR codes in February and had been working on the system for months. It had also been working to sign up the partners to the project that were announced on Tuesday.

When shopping online, shoppers simply scan a QR code shown next to the item they ­intend buying to pay for it.

Eftpos is rolling out QR code payments for both online and in-shop transactions.

When buying at a shop or check-out, once the cashier has rung up the final amount, a shopper gets out their phone, chooses either the shop’s app (for example the Woolworths app) or their camera, and scans the QR code that will be placed at the checkout to effect payment.

Eftpos chief executive Stephen Benton said it was great to have high calibre early partners in the banking and retail community taking part because the eQR platform would reimagine how we pay for purchases.

“We expect eQR will quickly become the QR equivalent of Tap & Pay on debit cards,” Mr Benton said.

“Covid has changed customer behaviour and Australians are now ready for the enhanced experience offered by eQR.”

Karen Last, Commonwealth Bank general manager merchant solutions, said the bank’s customers had become increasingly familiar with QR codes “and we’re working with Eftpos to support the rollout of eQR”.

NAB executive merchant services Mark Raymer said the bank’s customers were increasingly choosing faster and digital ways to buy, sell and make payments. “We are delighted to be working with Eftpos to provide our customers with another innovative option,” he said.

Coles general manager financial services Paul Askew said the retailer was looking forward to work with Eftpos to improve the customer experience.

Woolworths Group’s Wpay head Paul Monnington said the company was pleased to offer a way to combine payments and rewards in one transaction.