Eftpos Payments Australia Limited is currently in discussions with a number of licensees of different online payment technologies as it works through the options for taking eftpos online.One technology that has come to the attention of Eftpos Australia is the USB connected Point of Pay system.Point of Pay is currently being certified by Bendigo Bank for the financial switch operated by Strategic Payments Services.Bendigo customers will be able to make secure online card-present transactions using an Eftpos debit card, terminal and PIN when certification and implementation are complete, according to a statement lodged with the ASX last week.Under the point of pay system, a card terminal connected to the customer's computer becomes the merchant's terminal for the time of the transaction and the customer's payment hub at home.Point of Pay can also provide a low cost merchant terminal, mobile terminal or be deployed as a vending machine.A pilot program is already under way in New Zealand where Datacom has deployed 73 merchant terminals, and a rollout is scheduled in PNG and the Pacific Islands under a previous deal. "The system is based on a low cost Eftpos terminal, just like you see in a store but perhaps a slightly smaller unit that connects via USB to any computer," said Con Scrinis, managing director of license holder Computronics.The terminal costs in the order of $100, said Scrinis, and is completely tamper proof. An investor presentation also mentions Ethernet, portable wireless, embedded serial and POS integrated connection methods."The terminal connects via the web to a gateway which connects onto a bank switch to do a transfer of funds from point A to point B," said Scrinis. "Basically you are doing a card-present transaction from home which is much more secure than your average online credit card transaction at the moment."Point of Pay technology has been in development for five years by a private Melbourne company that will eventually be bought out by Computronics under a global licensing and commercialisation agreement announced in May.Point of Pay and Computronics say the technology has very low implementation costs for financial institutions because it utilises existing infrastructure.The technology complies with PCIPED and EMV standards and accepts both MSR and EMV cards and offers systems to protect the PAN, according to information from the developers.