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893 posts

Ultimate Geek


  #1723843 21-Feb-2017 16:01
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I think Eftpos rental is just one of those unavoidable costs of doing business. Yes, you could roll the dice and take your chances buying a machine, but as has been pointed out, that carries some pretty big and foreseeable risks. Having being in retail, the cost of not having eftpos available (for even a short period like an hour during peak trading) is significantly more than shelling out a monthly rental. Those people who "just nip out to the cash machine" after rolling their eyes at you, may or may not come back.

 

Be aware of the contract, short terms and/or monthly rent may be the go if you aren't sure of things. Some companies even have a "starting out" period as not to penalize you (too much) in the event that things don't work out.

 

As for "avoiding stores without paywave"? Maybe I'm too old fashioned, but I rarely use it even if it is available. I like to punch numbers....


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  #1723874 21-Feb-2017 16:25
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sen8or:

 

As for "avoiding stores without paywave"? Maybe I'm too old fashioned, but I rarely use it even if it is available. I like to punch numbers....

 

 

I'm pushing 40, and almost everyone I know younger than me uses paywave almost exclusively now, not so much with the over 40's.





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Uber Geek


  #1724267 22-Feb-2017 09:54
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I like Paywave too but I wouldn't avoid a store just because it doesn't have it.


BTR

1522 posts

Uber Geek


  #1724348 22-Feb-2017 11:53
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You need 3 things I believe for eftpos to work.

 

 

 

1 . Supported terminal

 

2. Merchant ID (Your bank issues this)

 

3. connection to an eftpos network i.e. Paymark or EftposNZ I think are the main two.

 

 

 

Credit card processing is an extra cost and pay wave is another cost on top of the standard CC charge, we have a retail cafe as part of the business at work and they don;t have pay wave simply because of the cost and I completely understand why small businesses are avoiding it. 

 

IMHO if customers can't handle putting in their pin number and will avoid shops that don't have pay wave thats childish and lazy.


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Master Geek


  #1724385 22-Feb-2017 12:31
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BTR:

 

You need 3 things I believe for eftpos to work.

 

 

 

1 . Supported terminal

 

2. Merchant ID (Your bank issues this)

 

3. connection to an eftpos network i.e. Paymark or EftposNZ I think are the main two.

 

 

 

Credit card processing is an extra cost and pay wave is another cost on top of the standard CC charge, we have a retail cafe as part of the business at work and they don;t have pay wave simply because of the cost and I completely understand why small businesses are avoiding it. 

 

IMHO if customers can't handle putting in their pin number and will avoid shops that don't have pay wave thats childish and lazy.

 

 

1. - Supported and compliant Terminal - bearing in mind Paymark Software and ENZ Software on the Terminal is completely different and not interchangeable (well technically if the Manufacturer reloads different software and crypto)

 

2. - Merchant ID - Issued only by a Merchant Bank - ASB, ANZ, BNZ, Westpac, KiwBank. Most business customers with TSB, CU etc. are able to get Merchant Services independently from a Merchant Bank (some do, some don't)

 

3. - EFTPOS NZ - currently only support ANZ Merchants and VeriFone Terminals. Paymark - currently support ANZ, ASB, BNZ, Westpac and KiwiBank Merchants - Choice of terminal manuf. VeriFone, Ingenico, Pax, Spectra, WolfStrike etc.

 

 


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  #1724393 22-Feb-2017 12:42
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BTR:

 

 

 

IMHO if customers can't handle putting in their pin number and will avoid shops that don't have pay wave thats childish and lazy.

 

 

It makes transactions significantly faster, which as a business lets you process more transactions during peak times with fewer tills/staff, and reduces customer wait time increasing customer satisfaction. 

 

There are benefits to it for both parties.

 

 





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