Eftpos in New Zealand

Eftpos is the general term used for debit card based systems, which are used for processing sales and transactions through point of sale transactions. In Australia and New Zealand Eftpos is also the brand name of the specific system used for such payments in those countries.

Eftpos Central can provide your business with complete Eftpos and Point of Sale (POS) systems that will work with your business type, from eftpos terminals and simple cash registers, to touch screen display POS for hospitality.

Please have a look through our Eftpos deals from Cadmus, VeriFone, Provenco and Ingenico solutions. We also have a range of mobile eftpos solutions for businesses on the go.

Visa and MasterCard believe that the global adoption of chip card technology will significantly reduce the potential for credit card fraud. Credit card fraud has been increasing in Asia and Australia by up to 5% per annum. By introducing this new technology cardholders will be protected further from credit card fraud.

Banks to implement EMV through Paymark EFTPOS

In New Zealand, ASB BANK, Bank of New Zealand, The National Bank, Westpac, terminal vendors and Paymark EFTPOS are working together to meet the dates required by Visa and MasterCard.

EFTPOS terminals to be upgraded over time

The EMV requirements mean that over time all EFTPOS terminals must be able to support the new standard. There will be a transition period with EFTPOS terminals being upgraded progressively over the next 4 years between 2004 and 2008. EFTPOS terminals will continue to be supported for some years, so there is no immediate requirement for the majority of merchants to upgrade their EFTPOS terminals. Generally, the older the terminal, the sooner it will need to be upgraded - merchants can contact terminal vendors or keep watch on this site for more information.

Merchants will need EMV EFTPOS terminals

Most suppliers of EFTPOS terminals have already made a strong commitment to meeting the EMV standard. Merchants should plan ahead for the upgrade to EMV EFTPOS terminals. It may mean some merchants have to upgrade their equipment earlier than previously planned. For those already planning to upgrade equipment, it is recommended that you move to an EMV EFTPOS terminal.

All Approved EMV EFTPOS terminals are listed on this site.

Bank and vendor communications

Bank and terminal vendors will be providing further information on the EMV requirements to their merchant customers.

The EMV New Zealand Advisory Group

An advisory group has been formed comprising banks, credit card companies and Paymark EFTPOS to introduce the standards.

The advisory group has been consulting with stakeholders and will continue to consult as needed on an ongoing basis.

Paymark EFTPOS, the company that processes 80% of all EFTPOS transactions in New Zealand, has been commissioned to implement the new standards on behalf of its shareholder banks.

Paymark EFTPOS is the implementer

It is the responsibility of Paymark EFTPOS to certify EFTPOS terminals for use on its network. The company is playing an important role as an implementer in the upgrade of EFTPOS terminals.