Currency Select EFTPOS

Give your international Visa and MasterCard customers the option of using their home currency

Increase your revenue by accepting international Visa and MasterCard credit card payments
Automatically convert your New Zealand Dollar sales price to your international Visa and MasterCard customer’s home currency
There are twelve foreign currencies available for conversion
Perfect for New Zealand businesses with a high number of international customers
Optional online reporting tool allows you to search for transactions and download reports in Excel format
Your Currency Select EFTPOS terminal will also allow you to process your usual credit card and debit card transactions

What is Currency Select EFTPOS?

Currency Select EFTPOS is the first service in New Zealand that allows you to accept international Visa and MasterCard payments in multiple currencies via your EFTPOS terminal, with payment in New Zealand Dollars direct to your nominated account.

Currency Select EFTPOS gives your international Visa and MasterCard customers the choice of purchasing your goods and services in their home currency or in New Zealand Dollars.

Your international Visa and MasterCard customers will know the exact home currency amount that will be charged to their credit card, while you gain the convenience of being paid in New Zealand Dollars.

Your business will receive a Merchant Service Fee Rebate for all international Visa and MasterCard transactions that are converted to your international customer’s home currency.

How does Currency Select EFTPOS work?

The following currencies have been chosen for Currency Select EFTPOS:

US Dollar

Australian Dollar

UK Pound

Japanese Yen

Canadian Dollar

Chinese Yuan

Hong Kong Dollar

Korean Won

Singapore Dollar

Swiss Franc

Euro

South African Rand

If your international customer selects to pay in their home currency, your New Zealand Dollar sales price is automatically converted into that currency.
We send the transaction to your international customer’s card issuer in their home currency for approval.
If your customer selects to pay in New Zealand Dollars the transaction will be processed as per the current process for New Zealand Dollar transactions.
At settlement time we pay you in New Zealand Dollars direct to your nominated Bank of New Zealand account.
You can view your transactions online via an Online Reporting tool¹ which provides the ability to download your reports in Excel format.

Please note that if the transaction is charged back or refunded, you will carry the risk for any currency exchange rate movement since the original transaction.

Benefits of Currency Select EFTPOS

Make sales in selected foreign currencies

Twelve foreign currencies available for conversion.

Customer billed in exact currency amount³

This provides certainty for your customer.

Payment in New Zealand Dollars

This is a service designed and built to suit New Zealand businesses with a high number of international customers, particularly those in the travel, entertainment or tourism industry.

Rebate on your Merchant Service Fee⁴

You will receive a Merchant Service Fee rebate for all international Visa and MasterCard credit card transactions that are converted to your international customers home currencies. This Merchant Service fee rebate can be rebated against your merchant services fees or paid as a separate amount.

The foreign exchange rate is known at the point of sale³

Your international Visa and MasterCard customer is transacting in a currency they know and the amount they accept is the amount they will see on their credit card statement.

How do I get Currency Select EFTPOS?

To become a Currency Select EFTPOS merchant please contact your sales representative on 0800 180 180. You need to be a Bank of New Zealand Credit Card merchant. If you are not currently a Bank of New Zealand Credit Card merchant and would like to be, we can help set you up.

What you need to know

Additional charges will apply for the Online Reporting Tool.
Currency Select EFTPOS will be part of your merchant services facility. Set-up and merchant services fees, charges and terms and conditions will apply.
This does not apply to customers who agree to express or priority checkout transactions.
To be agreed with Bank of New Zealand as part of the terms and conditions that will apply to Currency Select EFTPOS.

This is a summary only, for more information contact our Sales Representatives on 0800 180 180.

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.