New electronic payments standards have been introduced: WHY?

Magnetic stripes on credit cards have been universally used world wide on all EFTPOS terminals. Unfortunately EFTPOS and credit cards store data on the magnetic stripes, such as bank account details, and therefore are prone to fraud, either by cloning, copying or skimming.

Visa and Master card have mandated a worldwide EMV standard for chip based credit cards and 3DES encryption, in order to give more security for card holders and retailers. Depending on what EFTPOS network a merchant retailer belongs to, there are different hardware and software upgrades for compliance.

What would happen to your business if you could no longer accept your customers' payments?

Eftpos suppliers are now required to upgrade all customers who are currently operating using 5.2 technology to at least version 6.0 at the expiry of their lease contract or before 2014, whichever is sooner.

With nearly 20,000 business still needing to upgrade, the situation is beyond serious. On the cutoff date, 1,700 New Zealand businesses that haven't upgraded will be randomly disconnected from the network. Every day after that 400 more will be disconnected. If you haven't upgraded, there is no way to know when you will find yourself disconnected and industry insiders are saying that IT WILL BE CARNAGE.

Can you afford for your customers to go to your competition because you Eftpos machine isn't working?

 

What you need to do to find out whether you comply with the new Eftpos standards

Ring an authorised reseller Contact a trusted reseller with your terminal ID# at the ready (you'll find it at the top of your receipts). They will be able to help you discover whether your machines need to be upgraded to comply with new standards. Phone 0800 180 180 for more information and we can point you in the right direction

Go to www.areyouready.co.nz This website has been set up to provide information to business owners about upgrading their Eftpos machines. Go to the website above, type in your terminal ID#, and you will be able to confirm your machine status. If it needs to be upgraded, ring us on 0800 180 180 and we'll tell you how you can upgrade.

In June this year the Eftpos standards will change whether you are ready or not and if you still have a 5.1 specification terminal and you haven't switched over to the latest 6.0 specification Eftpos technology, YOUR MACHINE WILL BE SWITCHED OFF.

Don't allow yourself to be one of the unfortunate business owners who find themselves unable to take payments from customers. Give us a call on 0800 180 180 to find out if your Eftpos machine needs to be upgraded. If it does, we'll let you know how you can make sure you get upgraded with as little disruption as possible.

Find out our upgrade options or simply contact us if you have any enquiries