Eftpos

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Eftpos

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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Importance of good cameras

POS SOFTWARE

I spoke yesterday about good cameras, today the issue came up about skimmers which turned out to be an excellent example of why I do believe that all businesses need good cameras.

A skimming device

These come in many types and are widely available on the web. What a skimming device is, is an electronic device used by criminals that generally are put on an EFTPOS reader to read (skim) the information off on the magnetic strip of a credit card and then to capture the PIN number.

The idea is that a criminal comes to your shop, in a few seconds installs a skimmer then returns in a few days to your shop and retrieves the skimmer with your customers' credit card details on it.

Skimmers have been regularly caught around Australia.

 

Cameras

These people would never be caught without decent cameras.

Take a look, I think you will find it interesting. Two guys come into the shop, the guy in front distracts the cash operator, now look at the guy in the white shirt installing a skimmer. He took about three (3) seconds to install the skimmer.

Here is a discussion about the incident.

 

What to do.

I always give a test pull on any EFTPOS reader before I use it.

My suggestion to everyone is to put a marker all around the EFTPOS reader with texture, this can help as a skimmer would need to cover the mark and be in your handwriting, always have a camera on your EFTPOS unit and try to monitor it at all times. If something looks off, call your EFTPOS provider immediately.

 

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EFTPOS - a tip

POS SOFTWARE

What can happen is a customer does a transaction,  pays using an EFTPOS card and is given an invoice. The problem can be if the customer's EFTPOS name does not match the name on the invoice. 

So what actually happened was when a customer queried the transaction and so left the retailer with the bank with a problem of how to prove that the transaction had been done by this customer. The invoice clearly showed that it was not the EFTPOS name.

What has suggested us that to stop this from happening, put in the delivery instructions that it was picked up by the customer's EFTPOS name!

 

 

 

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Allpay

POS SOFTWARE

Alipay

Alipay is the preferred payment method for Chinese people visiting Australia. About 1.2 million Chinese tourists come to Australia each year and they spend an average of $8,000 per visit making them in dollar terms our number one tourist trade. Also, there are many Chinese nationals and students living in Australia that would like to use it,  so giving many of our clients' a good reason to offer this preferred Chinese method of payment. 

So we are pleased that sometime about February be offering a direct integration of Alipay. It will work through Tyro EFTPOS which as Tyro has no fees or contracts so it is easy for any of our clients to add this payment type if they want it. If you are interested let me know.

 

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EFTPOS warning

POS SOFTWARE

One of my clients had the following happen to them.

 

They got a query from the credit card that one of their customers is claiming that a transaction was rung up twice and so they have charged the customer twice for the same thing.

When they investigated in their POS systems what they discovered was that they had done two purchases on the same day for different items but the value was the same as the amount claimed. 

Now what they had to do was show clearly that both these transactions were for something different and that they were different transactions.  The security footage was very useful here.

What it does show is how important it is to include enough detail to show that even though the transactions are for the same amount, that they are a different purchase.

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