New Zealand is in the biggest Eftpos Upgrade ever, these changes are needed to keep your businesses Eftpos Terminal Fraud Free and to protect Card holders that use your Terminal secure from fraud.
We have kept all this information below in plain speak as opposed to Industry Speak, But the Compliance issues are complex and Involve many Standards. At the bottom of the page we will soon add more on each of the standards, these will cover EMV, PA-DSS, PCI-DSS, EMV-Co, Software Kernels, Tamper Proofs etc etc.
REASON FOR UPGRADES
The reason why Eftpos Upgrades are required basically come from Fraud. A criminal commits fraud using Eftpos terminals, or as in the latest Australian examples, there are Syndicates of Criminals that are traveling the world looking for weak links in Eftpos and Payment security. The Australian Eftpos fraud has now topped AU$80 million – If you want go to Google and enter “Eftpos Fraud Australia” and you will see multitudes of stories of fraud all across Australia. In Australia they have older terminals with weaker terminal security than in NZ. Australia are now in a big rush to update older terminals to combat this fraud..
In New Zealand the banks are not disclosing how much fraud is happening on terminals. But we do know one thing, – These criminals travel looking for the weakest link, New Zealanders are very high users or Eftpos and Credit Cards, in fact one of the highest in the world, and hence the need to keep NZ ahead of these fraudsters and criminals.
Having the right terminal keeps payments more secure, reduces the likelihood of credit card fraud, and provides your customers with a reliable payment solution.
Technology evolves to make machines smarter and safer. There are three good reasons why you should upgrade to the latest software version (6.0):
* Full support of all chip cards
* Electronic offline voucher capability
* Enhanced transactions security for you and your customers
To find out whether you’re ready, just type in your terminal ID at www.areyouready.co.nz
IS YOUR TERMINAL COMPLIANT?
FRAUD > SECURITY > COMPLIANCE
When Fraud happens, More Security is need and developed, and then there needs to be Compliance – For ALL Merchants to comply with these new standards and Keep Card Holder details secure and the Fraudsters away.
The Bodies that keep the System Secure and Complaint are – EMV Co (Eurocard, Mastercard, Visa,) and other Card Schemes that need to keep customers safe from being defrauded, the Terminal manufacturers that keep updating Hardware, Operating Systems and Software – Then locally from the distributors for each Eftpos Brands, Software to suit the NZ payments systems, this along with and in conjunction with the NZ Bankers Assn and the 2 Eftpos Networks – Paymark that accounts for approx 75% of NZ payments and EftposNZ which accounts for the other 25%.
As software is released, There are various Dates to Comply with…
Last DEPLOYMENT Dates – Are the Last Date that that version of Software can be Deployed (installed) into a Merchant Site.
SUNSET DATES – Are the Last Date that that Version of Software can be left Installed at a Merchant Site.
DISCONNECTIONS
There will be disconnections from 1 June 2011
See Related Story… http://www.nbr.co.nz/article/eftpos-axes-400-terminals-network-nn-88197
RUGBY WORLD CUP
New Zealand will soon host the biggest event in years with the amount of Overseas visitors coming for the Rugby World cup being huge, and as well as he Compliance, Security and Fraud issues – that is why your EFTPOS terminal needs to be ready by 1 June 2011.
Most international tourists use chip cards. Your EFTPOS terminal needs to process their transactions, and be compatible with the latest card technology.
Having the right terminal keeps payments more secure, reduces the likelihood of credit card fraud, and provides your customers with a reliable payment solution as the latest Terminals ensure smoother transactions.
MORE coming… We will soon add more information about all the Standards
Book now – Call 0800 5494 767