Deadline looming for EFTPOS upgrade - Viaduct

Media release

Deadline looming for EFTPOS upgrade - Viaduct

A warning is being issued to an estimated 17000 businesses around the country - upgrade your EFTPOS terminals now or you will find yourself having to turn away electronic sales.

All merchants are required to switch to more secure chip card technology by June 1, 2011 and banks have said they will disconnect non-compliant merchants after that date.

Viaduct director Marty Pomeroy says despite the June 1 deadline looming there is still 17,000 businesses nationally using the old technology.

“The message has been very clear – if you don’t meet the deadline then banks will disconnect you from the network. We know businesses have been busy with the summer trading but they need to upgrade now before it is too late.

“Businesses just can’t afford to sit back and wait anymore. The current climate is difficult enough, and the last thing anyone wants is to have to turn a paying customer away. “

He says Viaduct has increased its capacity, along with working with the New Zealand Retailers’ Association and the New Zealand Hospitality Association, to ensure businesses are not left without EFTPOS.

“We are looking at an estimated 300 switches a day needed if all merchants are to meet the deadline. At current staffing levels and capacity there is just no way the industry can meet that demand and that’s why we are boosting staff levels now – we want to be able to meet that demand.”

Viaduct is also encouraging merchants to be mindful of any potential changes in the pipeline when signing a contract, he says. It is also important not to get locked into a long contract that doesn’t allow for changes.

“Technology moves quickly so it’s important that businesses are future proofing as much as possible. They don’t want to get into a position where they are in effect paying twice.”

Marty Pomeroy says the upgrade does offer greater security against fraud, but also means faster terminals and greater card acceptance.

“We’re all hoping that businesses will be putting their terminals to plenty of use with the upcoming World Cup – this new technology allows for a smoother transaction with international customers.”

As New Zealand’s leading independent EFTPOS company, Viaduct is well placed to offer advice and to look at the individual needs of each client, he says. It is also an independent dealer so merchants have access to a variety of solutions.
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