Geekzone: technology news, blogs, forums
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.

24 posts


Topic # 175354 25-Jun-2015 21:14
Send private message


We are looking to hire an eftpos machine for a 3 day show next month.  I was wondering if anyone has used Downtown Rentals ( before?

Prices look good, but cant find any reviews other than on his website.  The money seems to go into their bank account and then credited to our bank account .

Any other suggestions also welcome.


Create new topic
3347 posts

Uber Geek
+1 received by user: 359


  Reply # 1331803 25-Jun-2015 22:58
Send private message

Is that risky if the funds go into their bank account?

634 posts

Ultimate Geek
+1 received by user: 112

  Reply # 1331806 25-Jun-2015 23:08
Send private message

Zeon: Is that risky if the funds go into their bank account?

Sounds like it. You'd think it should go to who ever is renting.


24 posts


  Reply # 1331813 25-Jun-2015 23:22
Send private message

Yeah, haven't done this before, trying to go for the cheapest option. Not sure what's normal

72 posts

Master Geek
+1 received by user: 16

  Reply # 1331880 26-Jun-2015 09:19
Send private message

This is an example of 3rd Party/Aggregated Credit Card acceptance. It is highly frowned upon as the risk of any fraudulent transactions or charge-backs are the responsibility of the "Merchant". In this scenario, you aren't the Merchant; eftposhire is.

It is a clear violation of the Merchant Services Agreement and some EFTPOS Resellers have been burnt badly by offering Credit Acceptance on their own Merchant Facility. The window for charge-backs; if I remember correctly is 6 months. Lets take an example (very much simplified).

You process $ 10 000 worth of Credit Transactions. 2 Customers aren't happy that the goods weren't delivered (worth $ 4 000) and as their Bank to reverse the Credit Card charges. Their Bank contacts the Acquiring Bank (through Scheme procedures) and request copies of the terminal receipt and invoice and an explanation as to why they shouldn't reverse the transaction. The Merchant; being eftposhire (3 months later) now has to come looking for you. Youve already had your funds settled (less the 3.9% Merchant Service Fee) and are un-reachable. Lo and behold eftposhire is out of pocket for $ 4 000 because a) they don't have the receipt copy, b) they didn't invoice for the goods and c) they didn't sell anything to the cardholder.

* I am aware of a Reseller many years ago who landed up with over $ 150 000 worth of charge-back their own Facility because the guy who wanted a weekend facility was selling fictitious plane tickets and skipped the country after funds were settled and before the cardholders were aware of the fraud. A month later got a bill and a 'please explain' from their Bank.

Its a different story if its EFTPOS (debit-only) because there is no MSF. However it is further complicated by whether the cardholder uses a scheme or domestic Debit Card.

My advice (as it is with all my short-term hires) is to apply to the Bank for a short-term Merchant Facility; some Banks dont charge for it (except if you want Credit acceptance too) and hire a Terminal from a Paymark Accredited Reseller so if something does go wrong you have an Industry Body to go to.

24 posts


  Reply # 1332306 26-Jun-2015 18:44
Send private message

Thanks for replying to my post.  We have decided to get our own merchant number, and hire a machine.  Will have a look around and see where we get the machine from.

Create new topic

Twitter »

Follow us to receive Twitter updates when new discussions are posted in our forums:

Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:

Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:

News »

VMware NSX Meets Stringent Government Security Standards with Common Criteria Certification
Posted 22-Jun-2017 19:05

Brother launches next-generation colour laser printers and all-in- ones for business
Posted 22-Jun-2017 18:56

Intel and IOC announce partnership
Posted 22-Jun-2017 18:50

Samsung Galaxy Tab S3: Best Android tablet
Posted 21-Jun-2017 12:05

Wellington-based company helping secure Microsoft browsers
Posted 20-Jun-2017 20:51

Endace delivers high performance with new 1/10/40 Gbps packet capture card
Posted 20-Jun-2017 20:50

You can now integrate SMX security into Microsoft Office 365, Google and other cloud email platforms
Posted 20-Jun-2017 20:47

Ravensdown launches new decision-making tool HawkEye
Posted 19-Jun-2017 15:38

Spark planning to take on direct management of all consumer stores
Posted 19-Jun-2017 10:03

Qrious acquires Ubiquity
Posted 14-Jun-2017 12:21

Spark New Zealand prepares for 5G with Nokia
Posted 14-Jun-2017 12:16

 The future-proof  10.5-inch iPad Pro
Posted 13-Jun-2017 18:16

Mandatory data breach reporting in Australia
Posted 13-Jun-2017 11:30

Review: Sony MDR-1000X noise-cancelling headphones
Posted 12-Jun-2017 08:08

Kinetics Crowned Microsoft NZ Partner of the Year
Posted 9-Jun-2017 09:32

Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.

Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.