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25 posts


Topic # 175354 25-Jun-2015 21:14
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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.


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Uber Geek
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  Reply # 1331803 25-Jun-2015 22:58
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Is that risky if the funds go into their bank account?

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Ultimate Geek
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  Reply # 1331806 25-Jun-2015 23:08
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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.


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  Reply # 1331813 25-Jun-2015 23:22
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Yeah, haven't done this before, trying to go for the cheapest option. Not sure what's normal

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Master Geek
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  Reply # 1331880 26-Jun-2015 09:19
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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.

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  Reply # 1332306 26-Jun-2015 18:44
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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.

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