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Retailers warned of upcoming Eftpos update

  • Technology
  • December 8, 2016
  • Sarah Dunn
Retailers warned of upcoming Eftpos update

From April 30, Eftpos 6.1 and PTS 2013 software will cease to be supported on the New Zealand network.

Smartpay chief executive and managing director Bradley Gerdis says, “This will be one of the most significant technology upgrades in New Zealand since the switch from analogue to digital television. Just like analogue TVs stopped working in 2013, Eftpos terminals with older software will no longer function from the end of April 2017.”

Gerdis says one of the most significant features of the coming Eftpos upgrade will be the requirement of contactless payment options, as older terminals which don’t support it are upgraded or replaced in order to be compatible with the new software. It will still be possible to refuse to activate this technology.

“Not all retailers will choose to use this function, but if consumers continue to increase their use of contactless technology it will be more difficult for them not to,” says Gerdis.

Contactless payments are being enthusiastically adopted by Kiwi consumers, with Apple Pay’s New Zealand launch in October making it the latest addition to shoppers’ options.

A recent MasterCard survey found the number of Kiwis using contactless payments has jumped by 20 percent since 2015, with two out of three New Zealanders regularly using this technology.

However, that convenience isn’t without its downsides – Retail NZ called for greater transparency of fees set by banks and credit card companies around contactless payments after a report found contactless fees could cost retailers as much as $3.1 billion over the next 10 years.

Smartpay will automatically upgrade all its customers to the latest Eftpos software.

Eftpos software specification

Sunset date

6.1

30/04/2017

2013

30/04/2017

2014

30/04/2018

2015

30/04/2019

​ ​

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