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Looking to

get started with EFTPOS?

New to EFTPOS? We have all the information you need to make this simple and get started with accepting EFTPOS payments.

Understanding how EFTPOS works and EFTPOS costs in New Zealand

With more than three quarters of Kiwis using an electronic card to make payments, having EFTPOS makes it easy to get paid. No fiddling with cash, instant transaction approvals and detailed reporting makes it easy to see why EFTPOS is beneficial for your business.

It helps to understand how it works, the parties involved when funds are transferred electronically and a simple breakdown of their charges; so you can be fully equipped to make the best decision for your business. 

The parties involved in an EFTPOS transaction

EFTPOS provider - role and charges

This is where you get an EFTPOS machine that allows you to accept electronic payments. Your EFTPOS provider is also responsible for providing ongoing security compliance and support.

Payments are the lifeblood of any business. That’s why choosing your provider is paramount to the entire process of getting started with EFTPOS. 

Some of the key things Smartpay can help you with as your EFTPOS provider are:

The EFTPOS rental charges are dependent on the machine you choose and the term length you decide to lease it for. We provide transparent and fair pricing with no hidden charges. 

Smartpay provides an easy plug and play set up with remote software updates to make your life hassle free. With a range of user friendly EFTPOS machines and flexible lease terms, we make the whole process simple and easy for you. 

Banks (or Acquirers) - role and charges

This is where you get merchant services including a business bank account. A business bank account allows you to receive funds into your account directly from your customers.

The merchant bank provides your merchant facility. They will often (but not necessarily) also be your acquiring bank. The merchant bank is the one you deal with for day-to-day banking. The acquiring bank works in the background to process your transactions. 

Some of the things that banks can help you with are:

Banks (or acquirers) charge Merchant Service Fees (MSF) for the facilities they provide. While accepting EFTPOS and debit cards is included in the network fee; an additional MSF per transaction is charged for accepting credit cards or contactless payments. 

MSF varies by industry, card type and transaction volumes. In most cases, you can recover these costs of acceptance through an automatic surcharge on your Smartpay terminal. 

Smartpay EFTPOS machines can connect to most leading New Zealand banks as long as you have a Merchant ID from the bank. If you don’t have a merchant ID, we can also assist by providing you referrals to the merchant services teams of various banks. 

Payment network - role and charges

This is how you get connected on the network that manages the electronic transfer of funds to your account. The payments network authorises transactions and ensures correct transfer of funds

The payment network enables your terminal, the acquiring bank and the issuer (the bank that issued the card) to safely connect and exchange accurate transaction information. A payment network:

Smartpay uses New Zealand’s leading payments network – Worldline (previously Paymark). The fees to connect to the Worldline network are $18.90 per month and are paid directly to the network provider. 

Choosing an EFTPOS provider

Every day, Kiwis make 5 million card transactions, handled by 150,000 EFTPOS terminals – and it can feel like you have just as many options when it comes to EFTPOS providers

5 million card transactions

150,000 EFTPOS terminals

10+ EFTPOS providers

Things to consider when choosing your provider

An EFTPOS solution is on-going service for your business and is a combination of a reliable technology, prompt service and accessible support often for an extended period of time. There are additional things to consider like payment features and value adds for your business. 

When looking at an EFTPOS provider, you might consider:

At Smartpay, we pride ourselves on putting service first and making payments easy for our customers so you can focus on what you do best – taking care of business. 

Future-proofing your EFTPOS machine

For a sustained solution you probably want an EFTPOS provider who is thinking about the future. You want to know they will be here for you today with reliable hardware, and there for you tomorrow with smart innovations.
You might ask:

Short term EFTPOS machine hire S920 terminal

Get 12 months free EFTPOS rental

Get 12 months free on your EFTPOS rental. Simply ask us to apply this deal when you sign up on a 36 month EFTPOS rental contract with Smartpay.

Applicable to new Smartpay customers. 

*Terms & Conditions apply.

Make the smarter choice with Smartpay

We have been simplifying payments for Kiwi businesses all across New Zealand for over 20 years. We pride ourselves on making things easy for you to get started with EFTPOS.

35,000+ businesses trust us

48,000+ EFTPOS terminals supported

Nearly 20 years of experience

Speak with one of our Kiwi payment specialists today!

Every year our payment specialists help hundreds of businesses in all sorts of industries to get the right payment solution. Talk to us about your business today.