Contactless EFTPOS Solutions

Contactless is a globally accepted payment technology that allows consumers to make faster transactions

Contactless payments have gathered momentum these last few years. If all you need to do is hold your debit or credit card against the card reader to pay for goods and services, it’s no wonder it’s become so popular amongst Kiwi buyers.

Although almost all EFTPOS terminals can now process Contactless payments, there is an extra cost via your bank fees. Your Eftco Account Manager will discuss the pros and cons with you, but for now you may want to consider the following.

What are the benefits of Contactless?

Are fast transactions a must for you?

Contactless transactions are only 10-15 seconds quicker, but faster none the less. You should see quicker service at point of sale, shorter queues and less purchase abandonment.

Are long queues putting customers off?

Do you have big queues at peak times, for example a café at lunch time or takeaway outlet at dinner time? Are you loosing business because of long lines? How many of your customers are getting frustrated?

Will you loose business if you don't have it?

Do your customers ask for it? If so, how many and how often? Research suggests that 70% of Kiwi’s are using Contactless – but will they stop shopping with you if you don’t have it?

Are you trying to attract the younger generation?

The younger generations tend to get wrapped up in the latest technology trends like digital wallet Apple Pay and want to utilise them. But will they stop shopping with you if you don’t have it? Is it a nice to have or a need to have?

What should you consider first?

Every Contactless transaction gets charged a fee per transaction. Banks fees vary from business to business. Typically it would be anywhere between 1.5-3% per transaction.
If a high percentage of your transactions are credit card anyway, accepting Contactless may not make much difference to your fees. But if the bulk are made by EFTPOS, then can you afford to lose the extra cost on each transaction?
The maximum individual transaction value where no PIN is required is $80. So if your transactions frequently average more than this, it may not save as much time, as customers still need to key in their pin.

Wondering if it’s worth It?

If you don’t know what you’re getting charged per transaction, you should! To truly justify Contactless for your business we would suggest collecting some data and analysing the results. Do a trial test by running Contactless for 2-3 months.

Analyse a few things like:

How many customers came in?
How many used Contactless?
How many paid with a phone instead of a card?
Did your revenue increase?
When you had it turned on did your costs go up? And if so was it a level you're willing to accept for the convenience?
When you had it turned off did customers complain, and if so how many?

We are happy to advise you on how the system works and answer any questions you may have before you make your choice.

Our company hires an EFTPOS terminal every year which we use at the National Fieldays. We have been dealing with EFTCO for the past 7 years and found this always to be very easy. Staff are very friendly, happy to help and always answer any queries promptly, which enables us to get on with our jobs. I would not hesitate to recommend EFTCO as your choice of supplier."

EFTCO NZ are fantastic to deal with when arranging our Short Term Rental terminals for our ASB School Events, making the process easy and stress-free. From start to end via email or phone, Anu is efficient and helpful contacting the schools in a timely manner and assisting with their needs."

I have found your customer service team a great help when I needed instructions on how to use the Eftpos. They have walked me through the process with easy to understand instructions and a friendly attitude."

Need EFTPOS for your business?

Your EFTPOS terminal is just one input to the true cost of providing EFTPOS and it’s the smallest. Don’t make the mistake of not taking into account your fees. Some providers provide lower monthly hire costs but end up charging a lot more for fee processing. Some businesses end up paying hundreds if not thousands more than they need to each month.
Are you paying too much? Get a FREE FEE ASSESSMENT to find out.