Focus | Eftpos Central
card carrying action We’ve come a long way since the times of trading in food, tools, labour and more recently, cash. Slowly, but surely, humans have evolved on the financial front and have reached a point where there is nothing slow about the modern commercial climate. In fact, our sales systems are all about fast functionality to accommodate a consumer culture always on the go.
Today we inhabit an automated environment where technology has been designed as an interactive extension of us, or as an alternative to manual processes. A major commercial breakthrough that has revolutionised the way we do business is Eftpos or Electronic Funds Transfer at Point Of Sale. A staple in most people’s wallets, Eftpos cards came to fruition in New Zealand in 1985 through the Bank of New Zealand (BNZ) who introduced it via a pilot scheme. “BNZ brought it into New Zealand in 1985 to trial in petrol stations and it actually didn’t take off as well as they thought,” Eftpos Central managing director Kirk Anderson explains.
It wasn’t until other banks recognised its potential that Eftpos made its way onto the sales scene in 1989 via the Eftpos New Zealand network, wholly owned by ANZ National. One of the biggest developments since has been the implementation of software enabling the utilisation of Eftpos cards worldwide. In New Zealand, there are more debit card terminals per head of population than any other country worldwide. Eftpos Central is a popular Eftpos and Point of Sale solution for local businesses. “Eftpos Central believes strongly in our ability to service local merchant clients. We have a tight knit team here to deal with technical problems as they arise,” Anderson says. “The focus is on making sure that when a terminal fails we get a replacement out in a short period of time. Some businesses rely on up to 80 percent card based revenue so for a merchant to go without a terminal over a weekend, while a terminal provider couriers them a new one, that is three days without card revenue.” Terminals can be brought or leased from Eftpos Central, although Anderson says the preference is generally the latter because it is more
economical. “The industry is always developing and the card payment process is always changing with new security measures. The hardware is not always able to be loaded with new software, as is the case with computers.” Based in Palmerston North, the business has an Eftpos terminal range from Verifone, Ingenico, Cadmus and Hypercom, as well as a range of mobile Eftpos solutions. Eftpos Central is the local exclusive agent for the BEPoz Hospitality and Restaurant Point of Sale solution and also stocks a full range of: ■ Point of Sale including touch screen solutions ■ Consumables including paper rolls, toners ■ Cash registers ■ Scales and money counting machines Chip enabled cards enable card information to be encrypted which makes it harder for fraudsters to obtain it. This is a significant development, given that credit card fraud has been increasing in Asia and Australia by up to five percent annually. Banks implemented EMV (chip enabled card technology) through two network operators. There was a transition period with Eftpos terminals being upgraded progressively between 2004 and 2008. So what’s on the cards for the future? Anderson says contactless cards are the next big thing and their availability will coincide with the 2011 Rugby World Cup.
SPECIALISING IN FLEET MANAGEMENT SOLUTIONS
• Family Units • Quiet and cosy • Wi-fi Broadband • 11 SKY Channels • 32” HD LCD TV’s in rooms • Home away from home
Proud to be responsible for Eftpos Centrals vehicles on the road. Phone 06-353 3473
154 Park Road, Palmerston North stay@bigfivemotel.co.nz
Fax 06-353 3782 PO Box 4204 Palmerston North
Book online at www.bigfivemotel.co.nz or call 0800
BIG FIVE for reservations ef SpeedySignsPN cnt#62 10x2 jsindd 1
28/10/10 12:52:26 PM
EFTPOS CENTRAL • Eftpos • Cash Registers • Point of Sale • Rolls & Ribbons One of The oldest independent locally owned and operated EFTPOS company’s in New Zealand. EFTPOS CENTRAL Real 24/7 Service, Real people, In house finance, Flexible terms, Short term hires. Ph 06 357-4598 Fax 06 353-3876 155a Fairs Road, P.O. Box 4695, Palmerston North, 4442 Email: eftpos@eftposcentral.co.nz Web: www.eftposcentral.co.nz 62 | December 2010/January 2011 www.centraltoday.co.nz
• Touch Screen POS
0508 4 EFTPOS 33876
Wide Selection of terminals available for both networks and through any bank.
“A little RFID tag will be embedded during the credit card manufacturing process and people will be able to tap their card on the terminal and the transaction will be authorised,” Anderson explains. “It is a niche market for low ticket prices and high customer foot traffic purchases like petrol, fast food and buses, because the associated risk of loss is minimal. Hopefully this will be offered to New Zealanders in the near future.” Given the ever changing nature of the industry, Eftpos Central will be one of the key driving forces supporting these evolutionary changes. Eftpos Central PO Box 4695 Palmerston North 4414 T (06) 357 4598 F (06) 353 3876 E kirk@Eftposcentral.co.nz www.Eftposcentral.co.nz— Advertising Feature