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

25 posts


# 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
3465 posts

Uber Geek
+1 received by user: 455


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

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

1231 posts

Uber Geek
+1 received by user: 275

  # 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.


25 posts


  # 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

74 posts

Master Geek
+1 received by user: 16

  # 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.

25 posts


  # 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 and LinkedIn »

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 »

New Zealand government unveils new digital service to make business easier
Posted 16-Jul-2019 17:35

Scientists unveil image of quantum entanglement
Posted 13-Jul-2019 06:00

Hackers to be challenged at University of Waikato
Posted 12-Jul-2019 21:34

OPPO Reno Z now available in New Zealand
Posted 12-Jul-2019 21:28

Sony introduces WF-1000XM3 wireless headphones with noise cancellation
Posted 8-Jul-2019 16:56

Xero announces new smarter tools, push into the North American market
Posted 19-Jun-2019 17:20

New report by Unisys shows New Zealanders want action by social platform companies and police to monitor social media sites
Posted 19-Jun-2019 17:09

ASB adds Google Pay option to contactless payments
Posted 19-Jun-2019 17:05

New Zealand PC Market declines on the back of high channel inventory, IDC reports
Posted 18-Jun-2019 17:35

Air New Zealand uses drones to inspect aircraft
Posted 17-Jun-2019 15:39

TCL Electronics launches its first-ever 8K TV
Posted 17-Jun-2019 15:18

E-scooter share scheme launches in Wellington
Posted 17-Jun-2019 12:34

Anyone can broadcast with Kordia Pop Up TV
Posted 13-Jun-2019 10:51

Volvo and Uber present production vehicle ready for self-driving
Posted 13-Jun-2019 10:47

100,000 customers connected to fibre broadband network through Enable
Posted 13-Jun-2019 10:35

Geekzone Live »

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

Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron

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.