Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


IP transaction service to benefit EFTPOS Merchants

IP transaction service to benefit Paymark„· EFTPOS merchants

Plans to enhance EFTPOS transaction services for New Zealand merchants are part of a new five-year partnership between Paymark„· EFTPOS provider, Electronic Transaction Services Limited (ETSL), and Telecom.

Under the extended contract, Telecom will continue to support the telecommunications needs of around 60,000 New Zealand merchants connected to the Paymark„· EFTPOS network, while working with ETSL to migrate the current service to Telecom¡¦s IP-based network.

ETSL General Manager, Ron Brown, says the relationship with Telecom and the joint commitment to the development of new technologies is good news for merchants on the Paymark„· EFTPOS network.

¡§The shift to Telecom¡¦s IP-based transaction service promises to streamline payment processing, reduce overall costs and provide far greater flexibility and access,¡¨ he says.

Telecom Corporate Manager, Finance & Business Services, John Boon, says that while the existing network infrastructure remains more than adequate, the benefits of Telecom¡¦s IP-based transaction service are compelling for organisations such as ETSL.

¡§This new capability provides ETSL with tremendous opportunities to evolve the scope of their service and deliver merchants much more than just EFTPOS connectivity services.

¡§There is the opportunity for merchants to use terminals in conjunction with other IP-based applications in future to add a new dimension to their business and streamline services.

¡§We look forward to working with ETSL to implement the change and ensure that ETSL and merchants realise the benefits of Telecom¡¦s IP transaction service capability.¡¨

ETSL is jointly owned by ASB Bank, Bank of New Zealand, The National Bank and Westpac. Since 1989, ETSL has been the focal point for the development of the Paymark„· EFTPOS system which processes around 90 percent of all electronic retail payment transactions carried out in New Zealand.

© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news