400 EFTPOS machines cut off
Following Paymark’s move to disconnect some 400 EFTPOS machines from its network this week due to retailers carrying old terminals, Viaduct is taking steps to ensure further cut-offs are prevented.
The switch to a more secure chip card technology is mandatory for all businesses by June 1st with banks promising to disconnect non-compliant merchants after that date.
Of the 70,000 EFTPOS terminals across the country, an estimated 30,000 are still old technology.
Viaduct Director Marty Pomeroy, said, "Disconnection from the network is no longer just a threat. For 400 merchants it’s become a reality and we are telling any merchant still using old terminals that they should be working hard to ensure it doesn’t become their reality come June 1st.”
Pomeroy 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 500 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,” he added.