Eftpos

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Eftpos

Tyro pickup of terminals

POS SOFTWARE

Is Tyro coming to replace one of your terminals? 

Check the address on the email they sent you!

It appears on some that their trading address in the Tyro system is incorrect. 

Also, as some with problems have told us, they have not received a collection email. 

If there are any such problems, please contact Tyro support on 1300 966 639.

Plus

1) Do not remove any of the Ethernet or power cables attached to the unit. You are going to need them for the new unit.

2) Keep track of all the expenses that this has cost you.

Status updates are available here.

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Tyro outage

POS SOFTWARE

 

Many of our clients use Tyro. So on their behalf we made enquires what is happening about the current outage. I have been told about 15% approx has been affected by the recent outage for a couple of days. The problem has been found. The fix is taking time to resolve, a few days. If you want to follow the progress of the outage, click here.

There is a statement about it released to the ASX here.

 

Update:  08/01/2021

Please provide us updates on this as it has been few days without fpos; which is making it inconvenience for our business. Thanks
ABN 21633735350

Updates are available here.

https://status.tyro.com/

We suggest that you contact tyro on their 24/7 Support line on 1300 966 639 or email them at cs@tyro.com

 

 

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Dynamic Currency Conversion (DCC) do you need that headache?

POS SOFTWARE

Say an international customer pays using their credit card. If you have activated Dynamic Currency Conversion (DCC), they get a choice of whether to pay in their own or your currency. DCC can be attractive to them. The reason is that generally, they are not interested in your currency. They want to know what it will cost them in their money. Yet, it does open you up to legal issues that I am sure no-one wants. A reasonable discussion on this is here.

These legal problems are severe. Visa was in the Federal Court over it when it attempted to ban DCC.  The courts found that Visa acted anti-competitively and fined them. So they re-instate it.

Well, it appears that the credit card providers are now appearing to transfer or notify some of the legal problems to their merchants, so beware.  

If you decide to do the DCC! 

Our POS Software does all the conversions relevant to local currency. It does not know of the legal information now required to give.  This depending on what country you are in and the country of the customer's card. It looks something like this.

This has to be given to the customer, so what we are recommending is that if you are using DCC that you give the customer the credit card machine receipt as ours will not have this information.

Tyro has put together a checklist that I suggest if you use DCC to follow.

Our advice is that although your customer the DCC maybe sometimes wanted by the customer generally it is costing them more and you now have a legal headache, so maybe it is best now if on to politely turn it off.

If the customer wants to buy they can pay in your currency.

 

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Points to be aware for friendly fraud with Credit Cards

POS SOFTWARE

What is happening now is both EFTPOS/Credit card usage, and fraud rates are way up.  What fueling the increase in fraud rates is that more EFTPOS/Credit transactions are not done in the shop.

Of the EFTPOS/Credit fraud, by far the biggest category, 71% is friendly fraud.  

Friendly fraud started when a customer queries what looks like a legitimate item on their account.  If it proceeds, what generally happens is that the bank will cancel the transaction. They will then debit the merchant. These people tend to prioritise consumer rights over merchant rights. Still, they do not like it, and since the rate is going up, we participated in a meeting to see what could be done. 

The responsibility to prove friendly fraud is on the merchant.

Here are some points you can do to reduce the risk.

1) The new DTI system that we are rolling out can help a lot the merchant. If you have not yet, signed up, do it while it is free. If it costs you nothing and can help, why not use it?

Details here.

2) If they are in the shop, process all transactions under the camera. Video evidence is something courts do accept.

3) Check the order, if the transaction amount is higher than usual. 

4) Another often larger order comes from the same customer after delivery. A fraudster who gets away with it will often try again.

4) Save delivery documentation. Signed documentation is a big help. 

5) If in doubt, contact your EFTPOS/Credit provider.

 

Hope this is of help.

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Do you need to do an EFTpos Reconciliation?

POS SOFTWARE

Often you want to figure out what is going on, even if you are sure it's right. Sometimes, you need to determine that it is correct.

 So if you are looking to reconcile your EFTPOS/credit payment to the banks, if so, what you find is you are reconciling your daily sales, yet many of the bank fees are monthly figures. As such, the totals will not match.

Well, here is a report that can help you.

You will find it here marked in red.

Once there you can get a report in excel that you can reconcile.

See how you go, everyone, who has done it has told me that they have found something interesting.

 

 

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Bank trials of your sales data to start

POS SOFTWARE

Currently, our users in our marketplace can enjoy the cheapest EFTPOS/Credit rates.  But, we are looking forward to getting lower rates. In the process of looking, we were invited to join because I think we are considered the technology leader in our marketplace, a trial.  

For those of our customers on the trial, the banks will pay. I calculate a typical user of ours is looking at about $300 a month. When I do the figures for many of my users, that will cover the EFTPOS, so many of our users will get free EFTPOS which is very nice.

What they will be asked is to send sales transaction information from their POS Software.  

Needless to say that much of the information the banks know already. Plus, as its banks so strict confidentiality will be enforced.  You will get a secret code that only you, the bank's agent, and we will know.  Plus, the exact details of what will be sent. You will be able to restrict some of the information being sent if you wish.

As part of the trial, what excites us is that our users will have access to some of the latest and most advanced electronic payments functions that no-one else has yet got, e.g., free advanced SMS receipt.  Your customers will have better Bank Reconciliations too. What I like is the bank certification of payments. Now, if you argue with someone over the amount of the payment paid, it is you against them. Now those on the trial will have a bank certified amount to back them up.

I am not sure how long this trial will continue. It may be a month, and it may be years. It all depends on whether the banks and their agents think it's worthwhile continuing. 

We will release more details in the invitations that we will send out next week.

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This is a top rated integrated EFTPOS offer to think about

POS SOFTWARE

Come this time of year, at the start of the financial year, is the best time in my experience if you are thinking of upgrading your EFTPOS to do so.

This is a very good offer, 

They are waiving account keeping fees for 6 months for new to bank customers. All existing Westpac clients on PC-EFTPOS and standalone can be converted over to an advance integrated EFTPOS system.

WestPac six month free EFTPOS offer

Some functions 

  •  Fast and secure payments to save you time.
  •  Take payments anywhere in-store. 
  •  Wireless connectivity. Instant settlement into a Westpac account. 
  •  View near real-time transactions, settlements and monitor your terminal health on the Presto Dashboard. Seamlessly connects your   EFTPOS terminal to a range of Point of Sale systems. 
  •  Allows you to accept payments anywhere in-store and/or at the table, reducing queues and maximizing sales.

For a grade A, integrated EFTPOS system this is an extremely good offer which could save you a lot of money plus improve your business.

To get started

Make some enquires, click here

For WestPac click here for partner details.

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More Problems people have with moto payments

POS SOFTWARE

MOTO payments are EFTPOS transactions where the payment card used is not present. It is often used for payments made over the phone.

 

 

For many of my clients, this is a major source of income.

Besides having higher fees than regular credit card transactions, they can also be trouble as yesterday one of my clients found out. As the card was not there when the transaction occurred when the customer complained, it was my client's responsibility to prove that the actual cardholder authorised this transaction, This was impossible to do. A chargeback was done. The transaction cancelled. The goods sent are lost.

The problem is that for many of my clients there is no alternation but to accept MOTO payments

If so here are some tips that the bank sent, that might help by giving you some warning signs, so I thought I would share them here:

  1. If the delivery address does not look right
  2. Overseas orders
  3. Orders from people claiming that they cannot be contacted
  4. If a transaction is big or has orders for large quantities of the same item that do not seem to fit.
  5. If the same person starts giving you in a short time many orders
  6. If the orders are required urgently

What can I say but be careful? Accepting MOTO payments is a business decision.

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Tyro 3 months' rebate of Merchant Service Fees up to $500

POS SOFTWARE

Tyro made an offer to our users which I thought you may be interested in reading. However, they have a few points that are changed from my initial post so I have decided to post the offer with the changes below.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

The big problem now is that because of this coronavirus. Shoppers are increasingly wanted to pay by methods that don’t involve touching terminals and cash. No-one seems impressed by the hand sanitisers nearby and the frequent cleaning of the terminals. Today people do not want to touch the terminals thinking they are unclean. I think they are right, how many people touch those terminals every hour in shops? 

As such some of our clients have reported cash is way down and have seen big jumps in contactless payments by almost 40%.

We have been asked to submit a report about this but based on preliminary figures, this is considered to be real and a general problem as few seem to think when this coronavirus is over this will go back to before.

This is seen as a big problem looming for retail.

This means that many of our clients need to rethink their EFTPOS strategy.

So I think this offer is very timely as tyro has excellent contactless payment systems.
 

 

Image
Tyro $500 offer

 

 

If you want more details please click here.

 

 

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There is no evidence that cash spreads COVID-19

POS SOFTWARE

There is a lot of scaremongering now over the coronavirus with snake oil 'solutions' being proposed. One of the claims made is that cash is not safe, and those contactless payment methods should be used if possible.

Now there is a strong business case for retailers to switch to electronic payment methods, e.g. security, time-saving, cost savings etc. but there is little reason to add the coronavirus to this list. What we believe about coronavirus is that it primarily spreads by breathing. It can spread by contact but as a recent report by the Bank for International Settlements (BIS) in Switzerland found no scientific evidence banknotes and coins could carry the virus more effectively than other objects. 

What they found is that...

"Scientific evidence suggests that the probability of transmission via banknotes is low when compared with other frequently-touched objects, such as credit card terminals or PIN pads."

"On the contrary, frequent handling of a contactless card or an EFTPOS machine terminal may actually carry greater risk." The big problem here is that EFTPOS terminals can be handled by a large number of shoppers daily.  

This report is supported by the Australian government official report too.

Want to read more click [[here]] and here.

A false claim made now is that the World Health Organization said that handling cash could spread the virus, in fact, it has rejected such reports that they did say this.  

Clearly the EFTPOS terminals need to be cleaned. Here is how you clean an EFTPOS unit. I suggest you do this frequently.  One point you may want to consider is, if the claim is true and EFTPOS is so much safer why are not the banks actively promoting that now?

Note if you do decide to go cashless anyway, you must display a sign seen by the public before they begin their purchase that your shop is cashless; otherwise, there could be trouble.  

 

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