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How to transfer your EFTPOS contract

Two business owners shaking hands

At Smartpay, we love making payments simple for our customers. We recognize that businesses change and we want to make these changes easy for you. If you’re thinking of selling your business or transferring ownership of your EFTPOS contract, we can help.

We offer a free transfer service for your contract without any cancellation fees, and the new owner will have a fully functional payment solution right away. Additionally, we can assist with customizing the new owner’s EFTPOS solution if they desire changes to the terminal or its features.

We have created a detailed guide to help you with the process of transferring your EFTPOS contract.

Step 1: Contact the new owner

Discuss with the new owner about transferring the EFTPOS contract. Ensure they are happy to take over your remaining EFTPOS lease and have agreed on a switchover date for the change of ownership. The switchover date is the date from when their contract will become active with Smartpay.

You can either provide us with the details of the new owner including their name and contact information, or the new owner can reach out to us directly with their details.

Step 2: Setting up the new owner

Smartpay chat with the new owner to determine what they need from their payment solution. If they don’t have a Worldline ID yet, we give them some tips on setting up merchant services, including providing recommendations to banks to expedite the process.

We also walk them through all our different EFTPOS terminals and any extra features and services we have to offer, ensuring that the chosen payment solution aligns with the specific needs of their business.

Once we have all the necessary information from the new owner, we will prepare the new agreement. After they have signed it and returned it to us, we’ll start preparing for the switchover on the agreed date.

Step 3: Starting the new contract

If the new owner requires a different EFTPOS terminal, we dispatch the new machine with a return courier label for the old terminal to be returned to us. If they keep the existing terminal, the new owner can call us to log on and start using the EFTPOS terminal. Any new features that they have requested will also be enabled.

Once we have received and approved the application from the new owner, we are able to complete the transfer and close off your contract with us. You will still be responsible for ensuring all pending payments are up to date. If the existing EFTPOS terminal is being changed, you will be responsible for ensuring the terminal is returned to us in proper working order.

We have a dedicated team to help you with this process, so don’t hesitate to reach out to us. If you are unable to find a new owner for the transfer of the EFTPOS contract, we also have other options for contract cancellation. Feel free to contact our team on 0800 476 278 today to discuss your options.

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