Eftpos

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Eftpos

EFTPOS/Credit reliability

POS SOFTWARE

If EFTPOS unit goes down, a typical effect today is that a merchant loses about half their business and  I guarantee that this figure will go up. We have some merchants serious thinking of giving up cash altogether in which case it will be 100%.

A short time ago almost every EFTPOS unit went down with a problem from Telstra. Yesterday CBA had a problem. Today our helpdesk had people ringing up about issues with ANZ. If I made a bet that someone will contact us tomorrow about an EFTPOS unit problem, I would win as TPG is currently having internet issues.

As such, I think you should have thoughts about possible disaster planning with EFTPOS.  

So have a chew about these units.

 

 

 

 

 

It is available from Assembly payments through Westpac, and it is part of the Presto Smart integrated EFTPOS solution. It connects directly to your computer and/or LAN (local area network) to incorporate the EFTPOS to your Point of Sale. How should your internet connection go down, this unit automatically switches over to 3G so you can continue to take payments on EFTPOS. If the 3G completely fails, it will still work in standalone mode.

Conclusion - these 3G and standalone backups in case of failure makes EFTPOS much more reliable.

If you are interested in knowing more let me know or click here.

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New EFTPOS monitoring

POS SOFTWARE

What the recent outages which brought almost all EFTPOS terminals down in Australia have shown is that it is very hard for a retailer or for us to determine what has gone wrong initially. 

We all know something is wrong, but what? Could it be the terminal in the shop, the connection or the EFTPOS network? What I find worrying, is from these recent outages, it became clear that many people working on the EFTPOS network for support did not know initially that something was wrong either. Then as the support lines overloaded, soon we all knew something was happening.

So what I  do like about the Westpac Presto Smart terminals is they have real-time monitoring.

What it does allow is the EFTPOS escalation team to have real-time monitoring on your terminal. So it allows them to check terminal battery level, transaction errors and the most important the connectivity status that your terminal sees.

Plus it also means that they can receive alerts if terminal issues are occurring as well, so they know more about what is happening.

This all will save us a lot of time if something goes wrong. 

Click here for more details.

 

 

 

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Plan for EFTPOS outages

POS SOFTWARE

A few days ago EFTPOS went down, almost every point of sale software support bay like ours was hit by our clients ringing up asking what is happening. Yesterday Westpac went down in many places because every other EFTPOS provider was working we go even more calls what is happening. Unfortunately, there is little we can do once the EFTPOS goes down.

The reality is that a retailer cannot assume that their EFTPOS will suffer an outage every so often.

Note in England; they have a pretty good fix that seems to work well to stop these outages, they fine banks for outages.

What can be done when it is happening?

What I do suggest you do first is check whether it is your POS system or whether its a bank problem. Some banks, e.g. tyro have a status page here that tell you whether it is their bank's error. Also if you want you can subscribe so at least you will get a warning if a tyro scheduled maintenance is coming up.

Now also test, whether a payment can be accepted by another channel e.g. sometimes people's credit accounts, do not work but their debit accounts do work.  

What can be done before it happens?

You may be able to do something before it goes down so contact your EFTPOS provider and check with them if something can be done.

For example, many EFTPOS providers can supply you with a unit that has an Electronic Fall Back (EFB) mode. If so, this will allow you with some limitation and conditions to continue to process EFTPOS even when their network is unavailable.

Some EFTPOS units do allow a backup internet so you can switch either to a 3G mobile network as a back-up and/or can use WIFI. So if your internet goes down, the unit can switch to another internet provider. Just make sure it switches back with the outage is over.

Note WIFI is not generally considered secure so you may want to discuss this option with the bank in detail.

Hope this helps.

 

 

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EFTPOS Stands

POS SOFTWARE

I really like this new stand that is being given out now to support the new Westpac Presto EFTPOS solution. Take a look at the specifications, I think you will be impressed too.

 

It is very professional looking, has a nice grip and its tilt is extremely good making it easier to use. This is my favourite but if you want to see the full range of stands now available, please click here.

If you want to know more about Westpac’s new integrated EFTPOS called Presto? Click here to find out more...

 

 

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Uber VISA

POS SOFTWARE

I am wondering how these new ranges of VISA cards which I expect will be open to Australians soon will go?  Here is one such card.

Uber VISA

 

As it is only available to residents of the United States, so you will not see many of them right now.

One problem with the current VISA/Mastercard point system is they basically work on frequent flyer points which to a significant percentage is of minor interest as you need to buy a lot over a long time to get a reward. These cards most compelling feature is often the discounts of the services on offer; for example, this card offers a 4 percent rewards rate on dining out. Now if that is Ubereats and its restaurants that could be huge for many.  I know of millenniums that use Ubereats almost every night. Another plus for these millenniums is with these cards they can get 2% back on such products like Amazon, Best Buy, Netflix, Apple Music, etc.

The problem from physical merchants is they can in Australia only charge fees based on VISA and Mastercard as a group. Not that it matters as there is no way of knowing in advance that it is a premium card often we do even have a card, just a mobile and all we get back electronically is very general details, e.g. VISA or MasterCard. What is going to happen is that the rate on regular cards is going to go up as these premium cards rate goes up. Then these fees will go up for everyone. This is going to put pressure on merchants.

This problem needs to be addressed soon as already. I hear that Facebook announced that it is going to soon really push these cards. 

 

 

 

 

 

 

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Having a fast till

POS SOFTWARE

Many retailers at the Point of Sale have a till which is the fast till. On this till,  they discourage any slow transactions. For example if you want to ring up items on account, you are encouraged to use another till.

At my pharmacist, I was surprised that now on their fast till they have this sign

EFTPOS only  

 

As I was going to pay by cash, I had to go to the other till, the slow one. In a way I am not surprised as this is a graph of the average speeds of EFTPOS in our point-of-sale system using tyro by type and day of the week. The lower the bar, the faster it is. The times are listed in thousands of a second, and as you can see with a standard (ethernet) connection in light blue, we are doing an acceptance in just over a second. That is faster then cash plus more secure. No one can take money, calculate the change and give it to the customer in a second. 

So the proprietors of this pharmacy have made the fast till EFTPOS only. 

 

Currently, we do about 50% EFTPOS/Credit cards and 50% cash. When that figure goes up to about 70%, then we will do it too. What is surprising me, is just how fast our cheque payments have dropped. We now have heaps of people that cannot pay by cheque.

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Speed of Mobile wallet vs contactless Cards

POS SOFTWARE

Many smaller businesses are now using tap-and-go terminals for financial reasons as customers are much more likely to do small transactions, e.g. $2 using contactless more convenient and quicker as they do not need to enter in any PINs.

For this reason, I think mobile wallets will work even better in SMB businesses as people tend to be reluctant to go to their wallet to take the card out and since most people have their mobile handy, it will be extremely convenient for them to use the mobile instead like here.

Now here is it being used in practice these mobile wallets and look at the speed of the new mobile wallet over the contactless in speed for EFTPOS and Credit card transactions!

 

 

 This is 4x faster than contactless!!!!

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AUSTRALIAN PAYMENT CARD FRAUD 2018

POS SOFTWARE

AUSTRALIAN PAYMENT CARD FRAUD 2018

This report now available makes quite interesting reading.

The most common type of credit card fraud occurs is called *Card-not-present fraud* and makes up about 87.5% of all payment card frauds. Sometimes the card company will not reimburse you for this type of fraud, so it is worth being aware of the problem.

Here are two examples but there are many more.

1) Someone buys and then quotes a valid card detail either online, by telephone or mail order and then later the owner of the card, calls and says "Hey what is this about?" I would suggest that if you take over the phone credit card details, you do so only with customers you have dealt with before,

2) I have heard of a merchant that got burnt when a person used a card in the shop that for some reason did not when he did a swipe work. The merchant then manually entered in the card details. Only later did the merchant discover that the card was counterfeit. In this case, I would suggest that you have a policy in the shop that if a card does not work, ask the customer for a different payment method or card but do not enter the card number manually.

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How to avoid Point of Sale EFTPOS fraud?

POS SOFTWARE

Two people are required to make EFTPOS fraud. This is a particular problem with those people that do not have an integrated EFTPOS. It does happen accidentally too.

To make it work, the thief needs a person who pays goods and then signifies that it was paid with an EFTPOS. They then enter in nothing in the EFTPOS unit.  If you do not reconcile your EFTPOS amounts, you will never know that it happened.

Here is a report that can help you.

You will find it here marked in red.

 

Once there you can get a report like his that can reconcile.

 

Its in excel format so you can edit as required.

Some EFTPOS providers like Tyro EFTPOS have some incredibly detailed reports that you can reconcile. 

This will tell you when it happened!

What about a potential solution?

Knowing that it happened is only half the answer what you need to know is who is doing it. Once you find out when it happened, you can use our integrated computer/camera system, where you can press a button, and check one by one the transaction on the screen.

If you do not have an integrated computer/camera system, what you need to do is write down the times and do a search in your camera system. 

We have had a client recently that discovered about $8,000 in his small supermarket about five months was taken from him using this method.
 

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Free Westpac EFTPOS offer

POS SOFTWARE

WestPac six month free EFTPOS offer

Westpac has offered our clients, particularly if they are with Westpac, some exciting news. For the next few weeks, they are offering six months of free EFTPOS fees.  For a grade A, integrated EFTPOS system its an extremely good offer.

As this promotion is only running for a few weeks - if you are interested, I suggest you get onto it ASAP. 

Click here for details.

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