Retailers Provided Internet Based Eftpos Option
Retailers Provided New Internet Based Eftpos Option
Retailers on the Paymark EFTPOS network will continue to be supported while an innovative new network based on Internet protocol is introduced throughout the country.
Retailers will have the option of continuing with a dedicated phone line for processing EFTPOS transactions indefinitely or switching to the new IP network. Both networks are provided by Telecom. The new agreement between Telecom and ETSL (Paymark EFTPOS network provider) means that retailers will be able to process transactions, talk on the telephone and connect to the Internet simultaneously.
Ron Brown, General Manager Paymark, ETSL believes the Telecom’s IP based transaction service has clear benefits for the end consumer as well as for retailers.
“While we will be encouraging retailers to migrate to the new service, retailers will continue to be supported on the existing network for as long as they choose. There will be no compulsion to change from the existing system.
“The shift to Telecom’s IP-based transaction service promises to reduce overall costs, streamline payment processing, and provide far greater flexibility and access.
“We will be working with Telecom
and a range of other vendors to assist them in bringing new
and integrated point-of-sale products and services to market
that provide new value for retailers,” he