Eftpos terminals - whats the go on how to set them up?

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Kyanar

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#392093 15-Oct-2010 09:18

jbard: For asmall online business taking credit cards is not really a viable option, i looked into it about 6 months ago exploring all the option such as using a 3rd party like flo2cash or building me own payment system, but the cheapest option was going to be $200 a month and that was before transaction fees and i think they were going to take about 6% of each sale so turns out its pretty expensive. If it is only a small business then taking online payments into a bank account should be fine and this is what i usually recommend to clients.

As far as EFTPOS goes, it is useless for an online business as you have to physically have the customers card for them to pay by EFTPOS.

This is not true at all. Most major banks can set you up fairly cheaply - I've just completed a month or two back setting up a merchant account with Westpac. I'm paying less than $50 per month (and half of it is actually just a minimum transaction charge - meaning that until my transaction charges for the month reach that amount I don't pay any additional) and less than 2.5% per sale. The bonus advantage is that they set you up with DPS so you don't have to meet the PCI requirements for handling PANs (as you never get given it) and they mandate 3DS so that you get the liability shift benefit - where you as the merchant are not responsible for transactions where the customer tries to charge back because they didn't make the purchase.

jbard

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#392097 15-Oct-2010 09:29

Kyanar:
jbard: For asmall online business taking credit cards is not really a viable option, i looked into it about 6 months ago exploring all the option such as using a 3rd party like flo2cash or building me own payment system, but the cheapest option was going to be $200 a month and that was before transaction fees and i think they were going to take about 6% of each sale so turns out its pretty expensive. If it is only a small business then taking online payments into a bank account should be fine and this is what i usually recommend to clients.

As far as EFTPOS goes, it is useless for an online business as you have to physically have the customers card for them to pay by EFTPOS.

This is not true at all. Most major banks can set you up fairly cheaply - I've just completed a month or two back setting up a merchant account with Westpac. I'm paying less than $50 per month (and half of it is actually just a minimum transaction charge - meaning that until my transaction charges for the month reach that amount I don't pay any additional) and less than 2.5% per sale. The bonus advantage is that they set you up with DPS so you don't have to meet the PCI requirements for handling PANs (as you never get given it) and they mandate 3DS so that you get the liability shift benefit - where you as the merchant are not responsible for transactions where the customer tries to charge back because they didn't make the purchase.

Thats good to hear, i had heard banks doing this far cheaply than the 3rd party solutions but i never investigated it,

slamtilt

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#615326 26-Apr-2012 10:58

I have another alternative to an eftpos solution. If you want to use an actual terminal how about something a bit different. Do you have an iPod touch, iphone or iPad?

You can use these devices as a eftpos credit card/ visa debit card terminal by downloading the instapay app. This is a little program that turns you device into a terminal. They are an Australian company that operates here in New Zealand. Check out instapay.co.nz. It is compatible with DPS but I have it tuned into use Paymate.

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