New to eftpos?

In order to start taking funds using an eftpos machine, you’ll have to request an eftpos facility through whoever you choose to bank with. There will be options as to whether you want to take credit cards, paywave, remote payments and others which can be turned on or off, and which network you wish to connect through, but whichever you choose a merchant number will be allocated which is a unique number associated with your bank account.

Once this number has been issued and is live, this gets programmed into your eftpos terminal of choice which need to be connected via ethernet, wifi, or mobile. This then gets authenticated at the eftpos network of choice, and you’ll be able to log on your eftpos machine, and transact from then on.

It might sound complicated as there are as many options as there are businesses out there, but we will be more than happy to help you out to make things simple, obligation free, with advice as to what options and terminal choice is best for you and your business, with the aim of saving you time and money.

We here at eftpoSmart are a terminal provider, meaning we will rent you an eftpos terminal in order to transact. We will program the terminal, make sure it connects to the network, and from there support you with any issues with the terminal if there are any software or hardware faults, or connection issues preventing you from transacting.

Most issues can be solved over the phone by talking to us, however in the event that there is a hardware fault, we will supply you a replacement machine in order to keep you running.

There are many other providers and terminals that merchants can choose, however we believe strongly in the reliability, security, features, and speed of the VeriFone range of eftpos terminals, so we rent those out exclusively.

We are very competitive on price, understand the needs of merchants and the stresses of running a business. We pride ourselves on our service, and our long term relationships with our customers with some still being with us since the company started in 2011.

We at eftpoSmart are a terminal vendor, meaning we charge for the rental of the eftpos terminal, however that isn’t the only charge that a merchant will need to pay on an ongoing basis.

Independent of who you choose as a terminal provider, there are additional costs that merchants will need to pay in order to transact.

There are two eftpos networks that we provide terminals for;

Wordline & VeriFone

Both networks in essence do the same thing – they act as a sort of hub where the account holders of banks and credit card companies “talk” to each other which each transaction through the network, constantly verifying that each transaction is legitimate, and taking and depositing funds across each of those accounts.

Worldline (previously Paymark) has historically been the biggest network in New Zealand, but VeriFone has been doing essentially the same across the world and is now an established network in NZ also.

The cost of each network is different, with pricing below:

Worldline Network: $18.90 plus GST per terminal, per month.

Verifone Network: $15.00 plus GST per terminal per month.

Most terminals provided by us will have to go on the Worldline network, however the T650P has to go on the VeriFone Network.

The flat fee of either will cover all debit transactions done through your eftpos terminal, however if you wish to take credit card, paywave or remote payments, these will likely incur additional charges, usually as an added percentage on to every trade (usually between 1-3%)

These fees can really add up to a merchant which some merchants choose to absorb as a cost of doing business, but these can also be offset by adding a surcharge of the same percentage which the customer will pay during the transaction.

Busy cafe, doing hundreds of transactions a day? Sure – turn on paywave to speed customers through, accept credit cards as well – but would you like to add 2% onto your sale price, or would you like to on charge that onto your customers through the terminal?

Or – are you a small business doing a handful of high value transactions a month? Would a 2% surcharge on a large purchase be something a customer would pay on a large ticket item? Just the standard flat fee might be all that you require.

That is why at eftpoSmart, we really recommend you talk to us first, to get advice as to what you may or may not require, as many terminal providers will not ask these questions, and tailor a solution which is best for what you actually need it for.

All our terminals have the ability to turn on or off additional features or do specialty transaction types;

Tipping – to add a tip onto a transaction for good service, often used in restaurants/hospitality

Pre-Auth – the ability to reserve funds against a card prior to using a service. For example loading up tab at a bar, a pre-authorisation for $1000 for example reserves the funds to make sure it can be paid for, and if the tab only comes to $800, then $800 is finalised, and the reserved $200 is released back to the card holder.

Manual PAN (MOTO) – the ability to enter card information into the terminal without the card holder being physically present, e.g over the phone order at a takeaway

Surcharging – the ability to add a fixed amount or percentage amount onto credit and paywave transactions, with the ability to put a customer prompt on so they can confirm to accept the surcharge prior to the transaction going through

Receipt printing – the ability to print two receipts, one receipt, or no receipts automatically.

EOV mode – if a terminal is unable to connect, or the network is down, a terminal can store transactions until a connection is established again.

POS integration – most POS systems will integrate with the range of VeriFone terminals, just check with your POS vendor to confirm

Eftpos machines & technology have been around for decades now, though it’s an ever changing environment with merchants, customers, banks & credit card companies effecting that change.

The principle however is still the same – instead of cash or cheques being used to trade goods and services, an eftpos machine is a device that checks that funds are available from the purchasers account, and then deposits those funds into the sellers bank account instantly & securely.

Instead of having the risk of counterfeit cash, risking cash storage onsite and then having to deposit it, or the dreaded bouncing cheque – the eftpos machine eliminated the need by doing the same thing electronically at the point of sale – hence the name;

E(electronic) F(unds) T(ransfer) at the (Point) O(f) S(ale) -EFTPOS!