Credit Card Surchage - Are you changing your method of payment?

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Forums › Finance and wealth management › Credit Card Surchage - Are you changing your method of payment?

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trig42

5816 posts

Uber Geek

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#3399843 4-Aug-2025 11:26

wellygary:

tanivula:

Heard the bnz ad on the or ol wireless the other day about payap

Looks interesting, QR code scanning, low fees & open banking connections from my initial look.

"Step 4

You’ll both receive confirmation when the transaction has been completed. The funds are settled to your account the next morning."

I think this could be its undoing, retailers don't get the money till overnight,

Presumably its deducted as an "unavailable balance" from the customers as soon as the transaction occur thou - otherwise its a gapping hole for abuse

Pretty sure retailers don't get the money going through their EFTPOS terminals until they settle overnight as well.

snj

199 posts

Master Geek

#3399845 4-Aug-2025 11:29

wellygary:

tanivula:

Heard the bnz ad on the or ol wireless the other day about payap

Looks interesting, QR code scanning, low fees & open banking connections from my initial look.

"Step 4

You’ll both receive confirmation when the transaction has been completed. The funds are settled to your account the next morning."

I think this could be its undoing, retailers don't get the money till overnight,

Presumably its deducted as an "unavailable balance" from the customers as soon as the transaction occur thou - otherwise its a gapping hole for abuse

Which is basically similar to EFTpos (think it might depend on network though?), for instance: "Funds from trading are typically credited to your business account late at night. [...] Settlement typically takes place between 10:15 PM and 11:55 PM." https://support.eftpos.co.nz/settlement

Oblivian

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#3399850 4-Aug-2025 11:58

I was looking for a way for stall holder I know to use QR for payments recently.

Turns out there isn't a way other than saving your bank acct number as a text field for them to get into clipboard and paste to their app for ensuring it isn't wrong.

Bnz touted open banking api last year, so this might be ontop of that and likely to fill out thier acct details and just bridge the gap for online EFTPOS to complete similar to what Pbtech etc offer now

taneb1

520 posts

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Mercury

#3399861 4-Aug-2025 13:02

Oblivian:

I was looking for a way for stall holder I know to use QR for payments recently.

Turns out there isn't a way other than saving your bank acct number as a text field for them to get into clipboard and paste to their app for ensuring it isn't wrong.

Bnz touted open banking api last year, so this might be ontop of that and likely to fill out thier acct details and just bridge the gap for online EFTPOS to complete similar to what Pbtech etc offer now

If you have a registered business, Emerge supports this via EmergePay

I've used it a few times and worked well, you can either generate specific links or give the user a generic link where they enter the amount - 1.5% transaction fees which is lower than what we were paying via Stripe for the same thing.

Any comments made are my personal views and does not represent those of my employer

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