Eftpos

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Eftpos

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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EFTPOS with Tap & Save price reductions

POS SOFTWARE

What happens with EFTPOS and Credit transactions is that you get charged by everyone in the loop. For example, say the money goes from the customer's bank, into a transaction stream, which goes to another bank, the money is then moved into a new transaction stream, and then the money is transferred into your bank account, each transfer on this chain is being charged. So what happens is that each point of the chain is charging the next point of the route until it reaches you.  As you have no one to charge, you get the bill. 

What Tap & Save does, only available now with tyro EFTPOS,  is check what possible routes are available for the money to move from the customer's bank account to your account and then directs the money to be moved along the cheapest path.  The big plus here is that you save money without having to change anything. 

Overall the savings are in the order of 8.4% reduction in charges but this varies depending on what exactly is the route the money is travelling now. 

So I decided to see a benchmark of our clients EFTPOS over the past six months although I am still waiting for confirmation, I calculate that the savings with Tap and Save are 8.74% in our market space.

If you want to know more details, please click here.

 

 

 

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EFTPOS A TIP

Tyro eftpos

 

A lot of my clients do a lot of business taking EFTPOS payments over the phone (MOTO). It is a business risk, that most retailers know as the problem here is that in the event of a dispute it is the retailers that has to prove the cardholder approved the transaction.

The problem can be that if the shop is registered to do such MOTO payments, now let us say a customer comes in and buys some goods. They are given the terminal as above to process the EFTPOS and most salespeople purposely do not look at the processing of the transaction to reassure the customer that they are not looking at their security codes. What a fraudster can do then is cancel the transaction and while no-one is looking activate on some terminals the MOTO function. Then process the transaction. This will allow stolen EFTPOS cards to be used over the security limit. A short time later the retailer gets a query from the bank and almost certainly a reversal of the payment.

What I recommend is that you have cameras recording all EFTPOS transactions and if possible on the terminal that customers have access, disconnect the MOTO function.

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Tyro and eftpos

POS SOFTWARE

http://www.tyro.com/

We introduced Tyro into the newsagency industry, a long time ago. We liked it both for technical and commercial reasons. Tyro connects directly through the internet so no phone lines needed. That saves money. Also because of this, Tyro is fast. With it, you can do an EFTPOS transaction in seconds. As it is a single entry, it reduces keying errors.

We were not the only ones impressed with Tyro. One of our competitors decided to follow us again. He is late but still now; he has gone to Tyro too. Clearly, he is not the only one impressed as it just went public. In today's difficult share market, their share offer was oversubscribed by 70%. That is an incredible score. It shows the share market, even in this difficult period sees it as a great product too.

Anyway, we arranged a highly competitive package with them for our users. When all is added, this package has saved our clients much.

If you want more information please contact Tyro direct
Anthony Haddad
Payment Solutions Sales
Tyro - Level 2, 125 York St,
Sydney NSW 2000
T: 02 8907 1726 F: 02 8907 1626 M: 0403 3475 74
 

Web address: http://www.tyro.com/win/merchants

VANA training

POS SOFTWARE

I arrived at VANA to take a training session yesterday morning to hear it announced at the door, it is canceled. It was a shock both to me and people waiting to do this session. I looked who was there and from what I knew we had enough! Murphy's law again originally we assumed that VANA would be handling the attendance as usual. This time, VANA told us that we should do it. So I did it with Paul. The day before I was sick, so not contactable when Michael was doing last-minute organizing for the meeting. He did not know of my list of people only there were two on Paul's list and thinking only two booked, Michael was shocked. We normally get ten, twenty is not uncommon so he decided to cancel it. So he rang up both clients to cancel. However the ones on my list, showed up. Since I was there and they were too, we carried on with the training.

These were experienced newsagents who knew the industry having been in it for years. They knew the program and they wanted to learn a little more. With me, however, it is full on

Unfortunately because all I had was one day, I had to skip much. In the morning, we did customers. What I stressed here is the need to do an audit on your customers. It is now so easy for someone to make a minor mistake in the computer so a newspaper is delivered free by the newsagency long after the subscription is over. We often find errors doing changeovers from other systems to ours. Roughly we expect to find in 200 accounts, one error. Since a typical error is about $10 a week or about $500 a year it is worth auditing the accounts. This can be done over time. Say the accounts starting with A tomorrow. Next week the B's then soon.

We then went to subagents and then stock. Here I spoke about the need to check slow and zero selling items. I showed them the reports on how to get that information out. Then suggested some work practices here that work. At this point, I did not have time to get into the “sigma six” ideas, which also includes the sales of fast-moving items.

We then moved into the cash register. Since everyone knew the basic functions here, I showed them the cash register department analysis. I covered many such reports. Then showed them how to handle the sales per linear feet and how to monitor it over time.

Then later we discussed some of the electronic data interchanges that is occurring now, they were surprised how much we had achieved here and finally, we discussed some of the new technologies now coming at which point we had to end as the day had ended

I am waiting to hear their feedback comments. Based on the comments when they left, I suspect they will be positive.