Compared to the rest of the world, New Zealand are the leading users of EFTPOS – approximately two thirds of all our transactions are made through electronic payments, so EFTPOS, providers are always seeking new ways to improve the technology by making it more convenient and expanding its scope of use. POS Technology suggest that now is the time to upgrade your EFTPOS services, starting with Mobile Pay.
Many EFTPOS terminals now offer mobile pay which allows users to store their card details in their smartphones and then simply use those smartphones to pay for transactions. Similar to payWave or contactless payment methods, mobile pay is enabled through Near Field Communication (NFC) technology with mobile apps such as Apple Pay or Google Wallet. Mobile Pay still hasn’t quite caught traction in the NZ market yet, but it won’t be long before people can simply hover their phones over a terminal (as we would for chip cards), making POS transactions even faster.
Similarly, Online EFTPOS isn’t necessarily new, but it’s still in its very early stages. Paymark, with ASB and Cooperative Bank, allows customers to purchase online by using their mobile banking application. This means you don’t need to enter in your personal details or your card details (and its related security information) when you shop online – your phone is your EFTPOS card. The whole process is faster, simpler and, most importantly, more secure.
Finally, Biometric EFTPOS. This one is a bit sketchier than its counterparts, but it’s definitely in the works. Making purchases using only our fingertips or even facial scans is a possible future, and is already the present for some countries including the UK, England and Japan.
With all that’s in store for EFTPOS and its strong presence in our society, perhaps it’s about time your business gets a point of sale system upgrade. POS Technology is one of the best EFTPOS providers New Zealand wide, providing only the latest in cutting edge EFTPOS technology, so for more information on POS systems, Casio cash registers and retail POS systems please go to http://www.postechnology.co.nz .