Q: How does the eftpos system works…

When a merchant swipes a card through their eftpos terminal the pin pad encrypts the customer’s PIN and allocates a transaction number. The terminal communicates with the network and sends information to the network. The network relays the information to the appropriate bank, which in turn accepts or declines the transaction and returns this message to the eftpos terminal.

At the time the transaction takes place the money is automatically debited from the customer’s account. The merchant however gets all their funds deposited in one lump sum at the end of each dayduring the settlement window. The eftpos network holds these funds until the terminal has settled. On a weekend this could mean that the merchant might not receive any funds until the following Tuesday.

Paymark operates a 24/7 Help Desk to assist merchants on their network. Phone 0800 800 996 – you need to have your terminal number (from any eftpos receipt) handy to enter in the phone and then follow the instructions.     If you are an ANZ bank Customer, you may be on the Eftpos NZ Network – Phone 0800 338 767.

Q: What does all this Eftpos Terminology mean…

The following is a  list of eftpos terminology, there is much much more, but those listed are relevant to eftpos terminal users and has been written in plain english where possible.

EFTPOS – Electronic Funds Transfer – Point of Sale

Acquirer – the institution, or it’s agent, which acquires from the card acceptor the financial data relating to a transaction, and which initiates that data into an interchange system.

Acquirers Bank – The Bank you have your Eftpos facilities with.

EMV – Initiated from Europay, MasterCard and Visa. EMV is a global security standard for the interaction between chip cards and terminals. Chip cards include an electronic chip in addition to the standard magnetic stripe.

3DES – Triple DES – Derived from Triple (3) Data Encryption Standard – is a form of data encryption that scrambles sensitive information such as PIN numbers before sending it to the bank. This provides a higher level of security for the transfer of sensitive information.

 All eftpos users in New Zealand must comply with these standards, which are updated from time to time by the banking institutions. 

Logon – exchange of authentication information and encryption keys between a terminal and acquiring bank rending the terminal able to process online transactions.

 Q: How do i logon my eftpos machine 

Ingenico i5100: On the eftpos machine press the enter key three times untill you see supervisor on the screen then press the sav key to select init.