Man confused by EFTPOS Machine

Retail shops, restaurants, hotels, and many other workplaces are upgrading their outdated cash register to POS systems which are more efficient. This way, companies can track inventory and record various types of transactional data at the same time. They can also do real-time tracking of everything related to a customer’s purchase – including tax information, which authorised personnel can easily access whenever they need to.

Companies who successfully transition to the newer POS systems typically then require their staff to undergo the appropriate training on how to operate and use these technologies. EFTPOS NZ, the country’s largest provider of EFTPOS terminals and payment solutions, has created an EFTPOS training checklist which makes it easier for companies to train their staff regarding POS machines.

The training guide contains a step by step process on the basics of operating EFTPOS systems, which we’re going over in detail in this article. Read on to find out more!

EFTPOS Training Checklist

Turning Your EFTPOS Machine On

Mobile terminals require you to hold down the green button for five seconds – it’s as easy as that! Countertop EFTPOS terminals are always on as long as they are plugged in.

Putting Through a Purchase

Not much is required in this step. All you need to do is to press the Menu button, select Purchase, enter the purchase amount, and simply click on the Enter key.

Changing the Paper Roll

Most EFTPOS Machines won’t process purchases unless there is paper correctly placed in the paper roll compartment. When it’s time to change the paper roll, all you need to do is to gently pull the lid release, remove the old roll and place the new roll inside so that the end hangs out the back. Then close the lid firmly and press the # key to auto feed the paper.

Processing a Settlement Inquiry

When it comes to processing a settlement inquiry, all you need to do is select Menu, scroll down and select settlement, then select inquiry. You will then select the current date and a receipt will print displaying EFTPOS totals for that day.

The training guide will also offer detailed recommendations on how to go about offline mode and troubleshooting. To get a detailed look, you can review the EFTPOS training checklist here.

Training and Service

POS Systems are made up of both hardware and software, and can be as simple or as elaborate as you want, as they can be customised to fit the needs of your business. Here at POS technology we offer to provide your business with full training and service on all products we sell. If you need assistance in terms of teaching your staff, POS Technology can help – just say the word, and we can send a technician to your actual business site to help with the set-up and management of your machines. We also service Casio cash registers, POS printers, touch screen terminals, and more.

Meeting Industry Demands

These days, successful businesses can’t afford to be inefficient. Through the help of POS systems, businesses can become more effectual, reduce their administrative costs, streamline their record keeping, and overall, improve customer service.

For all your POS needs

Talk to POS technology! Our team of specialists are more than willing to assist you in choosing the correct POS system that will meet the specific demands of your business. We provide the latest EFTPOS terminals from dial-up, broadband through to mobile EFTPOS terminals. If you are considering a point of sale system, enquire today to learn more about our range of POS equipment, and get exclusive deals!

Future of EFTPOS

EFTPOS is a pervasive part of New Zealand society. Compared to the rest of the world, we are the leading users of EFTPOS – approximately two thirds of all our transactions are made through electronic payments. It’s also not uncommon to hear the word ‘EFTPOS’ being spoken at least once or twice on an average Kiwi day. Whether you’re buying coffee, paying for groceries or even making 25cent gum purchases at the dairy, we Kiwis use EFTPOS for pretty much everything.

But when and where did EFTPOS start, and where could it take us in the future?

A Quick History

EFTPOS, or electronic funds transfer point of sale, started its humble beginnings in NZ in 1985 at petrol stations. Four years later in 1989, it was officially launched across the country and quickly ramped up in popularity. By 1990, Paymark reports processing 1 million transactions per month, and four years after that in 1994, their processing volumes were exceeding 10 million per month.

EFTPOS Today

The rising trend of EFTPOS use over time hasn’t changed – it’s only magnified. As the more time passed and as the population grew, Kiwis have become more and more reliant on EFTPOS when paying for products and services instead of cash or any other payment method. Today, every Kiwi has an average of 1.5 EFTPOS/debit/credit cards – that’s around 7 million plastics in the entire country, give or take.

The most recent numbers from Stats NZ reports that Kiwi cardholders made 143 million transactions across all industries in October 2017, totalling at a whopping $6.9 billion. Additionally, Paymark reveals that on Boxing Day 2017 alone, $139.0 million worth of transactions went through their network.

The Future of EFTPOS

Due to our rampant use of EFTPOS, providers are always seeking new ways to improve the technology by making it more convenient and expanding its scope of use. Below are some prospects of where EFTPOS technology might be in the future:

  • Mobile Pay – Many EFTPOS terminals now offer mobile pay. Mobile pay 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.
  • Online EFTPOS – 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.
  • 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 NZ wide, providing only the latest in cutting edge EFTPOS technology.

Talk to us today at 0508 2 POS TECH to get access to New Zealand’s largest POS service, support and sales organisation.

POS Marketing Upselling at Coffee Shop

A customer’s buying journey doesn’t have to end once they reach the counter. In fact, your shop counter is one of the crucial places in your store where you can maximise sales while building great customer relationships at the same time.

Make the most of your customer’s shopping experience with these great point of sale (POS) marketing tips on how to upsell while your customer reaches for their EFTPOS card!

1. Suggest related products.

This tip is highly effective especially for first-time upsellers as it isn’t very difficult to pull off. If your customer is picking up a new pair of sneakers, perhaps suggest a new pair of socks. If they’re buying drinks, offer some fries to go with their beverages. Complementary products sell more because customers may not realise they need them, or didn’t initially notice them in your store. Weather-related items are also easy to upsell, such as hats in the summer or hot chocolates in the winter. The trick is to take on a customer mindset to find out what other products they might want to purchase that require little convincing.

2. Stock cheap, impulse products at the counter.

Stocking or placing cheap and impulse-buy products on the counter is a great way of passively upselling to customers who have already made the commitment to spend their money at your store. At a retail store these could be little accessories such as phone cases, and for a café, it could be small cookies that would go great with their coffees. Novel items are also great for stocking at the counter since they are likely to capture attention.

3. Emphasise value and discounts.

Customers want to get great value for money, so don’t forget to remind them of the awesome discounts or offers your store is promoting at the moment. Remind them about your great buy-one-get-one (BOGO) deal, or that sweet 20% off discount if you buy more than one item. Surprisingly, a lot of customers won’t pay attention to your signs so a verbal reminder never hurts, and may even provide a pleasant surprise for your customer.

4. Gain customer loyalty.

Does your business have a loyalty card system or a VIP mailing list? Encouraging your customers to come back for future services by giving them a loyalty card or by sending them special promo e-mails is a great way to secure customer loyalty. And don’t be afraid to add an extra incentive either. If they sign up, giving them a 10% discount right then and there will encourage customer satisfaction. A great timing for this might be when they’re waiting for their EFTPOS transaction to go through, so time your pitches carefully.

5. Plan and prepare with your POS.

A good POS system is an integral part of your business as it ideally keeps track of important sales information so you can plan and prepare for upselling in the future. Looking at the stats and finding your customers’ favourites and go-to items will help you identify exactly what to upsell.

A customer’s journey only ends once they walk out the door, so make the most of your customer interaction by remembering these great marketing tips for upselling at the counter.

If your business is in need of an integrated POS system solution, contact us at 0508 2 POS TECH and we’ll help you improve your sales with POS marketing today!

New Zealand loves EFTPOS

EFTPOS is a part of almost every New Zealander’s day-to-day living. Every Kiwi owns at least 1.5 EFPTOS cards or credit cards. EFTPOS is used for at least 60% of all NZ retail transactions, and EFTPOS transactions increase in monetary value every year. We even have our section on the EFTPOS Wikipedia page, so it’s therefore safe to say that New Zealand loves EFTPOS more than any other country in the world.

But why do we Kiwis love using EFTPOS so much? Below we’ve outlined the many advantages of using EFTPOS over any other payment method.

It’s fast.

It’s no secret that flipping your wallet open and swiping your card is faster than paying with a note and then waiting for the cashier to give you the right change. Furthermore, many EFTPOS terminals now include contactless payment method technologies such as payWave or even mobile payment (Apple Pay, Android Pay, etc.), further speeding up the process with “tap and go.”

It’s convenient.

Let’s be honest – we Kiwis are all about making things as convenient as possible. If there’s an easier way to do things, we’ll find that way and probably stick to it. Carrying one tiny card is much more convenient than carrying notes and coins. On top of that, recent technology has also blessed us with mobile banking applications. These make it fast and convenient for us to track our EFTPOS transactions. Furthermore, with mobile banking we can transfer funds, set weekly payments, and even do admin-related actions such as lock, cancel, or replace cards.

It’s secure.

EFTPOS cards are secure because they require a secure PIN code before any payments go through. No more dropping cash or losing coins – everything is in your hands and in your card. EFTPOS transactions are also made safer by your bank of choice. If you lose your card, cancelling a lost/stolen EFTPOS/credit card and getting a new card is a relatively easy and fast process.

It’s low-cost.

This one applies to the retailers/businesses themselves. In other countries such as the UK, businesses set a minimum amount you have to spend that allows you to use your EFTPOS card. And this is because the companies that provide the EFTPOS technology set a minimum fee for using this technology. Paying for smaller transactions with an EFTPOS card, e.g. anything under $20, might be frowned upon overseas. Here in NZ, you might see similar rules, but only for credit card purchases. The fact that there’s no minimum spend limit on EFTPOS transactions encourages the use of EFTPOS cards on both ends – for the customer and for the business.

EFTPOS is popular in New Zealand because it’s fast, convenient, secure, and low-cost for business, so it’s not going away any time soon. EFTPOS use in New Zealand frequently experiences annual upward trends. In fact, Paymark revealed that EFTPOS transaction values were up 6.5% for Boxing Day 2017, compared to 2016 EFTPOS spend.

What are you waiting for? If your business needs an EFTPOS machine, you’ve come to the right place. POS Technology is one of the best EFTPOS providers NZ wide, delivering only the best in point of sale and EFTPOS service and support.

Simply get in touch at 0508 2 POS TECH for the best POS solutions available in the country!

Choosing the right cash register

Choosing the right cash register is crucial to making sure your business can operate at one of its pivotal points – the point of sale (POS). A cash register carries out a business’s main responsibilities: ensuring a smooth transaction, tracking your enterprise’s inventory and of course keeping your earnings safe. It should be no wonder then that a considerable amount of time and thought should be placed when making the final decisions on your business’ very own cash register – what it should look like, the features it has and how much you should ideally spend.

To make the process easier, we’ve outlined a few simple steps that will help you choose the right cash register for your business.

Step 1: Evaluate your business.

Your business’ needs should always be priority when it comes to choosing your point of sale system. Consider your business’s size, inventory and overall purpose. A cash register for a restaurant will look different from a cash register for a dental practice. Moreover, if your business is product-oriented, you will want to consider your inventory’s size, and whether or not you’ll need more than one. A POS system should last you a long time, so it’s important to think about what lies ahead for your business in the near future.

Step 2: Think about extra features.

As mentioned before, there are different types of cash registers for different types of business. Extra features such as touch screens prove useful for retailers and hospitality, as the service user interface can be integrated with processing transactions. Small but important details such as the kind of printing – ribbon or thermal – should also be considered, as ribbon might be cheaper upfront, but frequently buying ink might quickly rack up costs. Other things such as optional security features might also be beneficial depending on the nature of your business.

Step 3: Consider the service.

A good POS system provider will offer support service as well as good-quality hardware. Make sure your considered provider asks you the right questions so they can give you exactly what your company requires. Support services for updating your system, troubleshooting and just general customer inquiry should also be available in case you run into trouble with your machine in the future.

Step 4: Keep looking.

It’s easy to jump in and decide on a cash register that’s appealing and matches your business criteria requirements. However, it’s also essential to widen your scope and canvas for other options. If you’re looking for cheaper alternatives, maybe a second-hand machine will be enough to suit your present needs. Otherwise, don’t make any abrupt decisions before you’ve seen all your options because you might find something better or cheaper.

Finding the perfect POS system can be time-consuming, but it’s rewarding in the long run if your cash register will provide great service to you for many years to come. If it fits the bill, you may also want to think about investing in an EFTPOS machine to further upgrade your POS system.

Contact 0508 2 POS TECH today for the best point of sale service and support in New Zealand!

Impulsive Spending

A lot of money-saving advice includes ditching plastic EFTPOS or credit/debit cards and using physical cash instead. But does this really work? Many money-savvy individuals suggest using cash in bills and coins instead of cards to cut down on unnecessary spending because making purchases using electronic payment methods may encourage impulsive spending.

Here are some of the biggest reasons why using your EFTPOS card instead of cash allegedly encourages impulsive spending (with our verdict below):

 1. “Out of sight, out of mind.”

EFTPOS cards carry digital money, which doesn’t possess a physical form in the real world. For most people it feels like having almost imaginary money that’s just floating in our world’s endless stream of data. Because people can’t really see their money go down in value in real time, it can become easier to spend money on impulsive purchases like excessive drinks at a bar or a new pair of shoes on sale.

Paying electronically also gives the option to delay confrontation with the reality of our bank account statements. We can clearly see our cash dwindling as we spend more, but we don’t have to look at our bank statements unless we really have to.

2. Giving up physical money feels painful.

A study from the University of Toronto revealed that giving up physical money, especially bills, can be a painful experience. Different payment methods trigger different levels of discomfort, and it turns out that “losing” cash triggers more uncomfortable feelings compared to other methods.

We seem to be more attached to physical cash than ambiguous EFTPOS cards because there’s a clear exchange or trade happening, making us value our purchases more.

3. Paying with cash is inconvenient…

And slows the buying process down. In the amount of time it takes for people to reflect on how much physical cash they have left, and then counting the bills and coins they’ll need to fork up for the purchase, people have more time to change their minds and just say, “Actually, you know what? I’m good.”

The Money-Saving Verdict

Although the evidence suggests that people are more reluctant to spend money when using cash, ultimately it all comes down to practicing good spending habits. EFTPOS cards, credit/debit cards and cash are only means to the same ends. And while using cash helps, classic money-saving tips such as budgeting, checking your bank balance regularly and self-restraint are common practices that we can turn into good habits over time.

As long as you are financially responsible and diligent with your budgeting, having an EFTPOS card and saving your money with a bank can reap great benefits over time. An EFTPOS card is easy to store and set-up, and actually losing it doesn’t feel so bad as losing cash because dropping your card doesn’t mean you’ve lost your money – it’s still safe in the bank.

Most Kiwis prefer paying with EFTPOS because their advantages far outweigh their disadvantages, and as a nation we use EFTPOS to make purchases of any kind. And despite being reliant on EFTPOS cards, many Kiwis boast hefty savings accounts.

Does your Kiwi business have an EFTPOS machine that caters to your customers’ needs? Here at POS Technology we provide reliable POS systems and amazing support to help you satisfy your customers.

Talk to us today at 0508 2 POS TECH for the best in point of sale solutions in New Zealand!

Pile of unorganised receipts

In the day-to-day hustle of business life, it can be hard to keep track of the receipts printed by your EFTPOS machine. The problem is, these little pieces of paper are essential to the business accounting of almost all retail-based businesses. If you’re using an EFTPOS machine, you need to hang onto your receipts, so today we’re going to look into some tried and true ways to manage them.

Why Save Them?

Your first question here might be why on Earth you even need to save these fiddly little bits of paper. We’re surrounded by technology, so it can feel strange developing an attachment to something so small. In reality though, receipts act as proof of every face-to-face transaction in your business, which makes them essential to your accounting.

If you are a retail-based business (which most businesses that use an EFTPOS machine are), then you are most likely using a cash-based accounting system. This just means that you only recognise something as income when the money actually changes hands, rather than using an invoicing system.

EFTPOS machine receipts are essential to calculating your revenue and subsequent profit when you use cash basis accounting, as they are the proof of every cash-based or electronic transaction that has occurred that day. Thus, best practice is always to keep them and put them on the books to check everything is balanced out.

Tips and Tricks

From the professionals in all things EFTPOS NZ, here are the trade secrets of perfect receipt tracking.

1. Keep track of them.

As anyone who has worked in the retail industry knows, each individual business has their own way of handling their receipts. Some have a spike right next to their machines where merchant receipts go, others have a section in their cash-drawer, and still others transfer electronic versions of all their merchant receipts into a folder for the end of the day. Whatever your method is, step one when making sure you’re doing your accounting properly is to choose a method that works for you and institute it consistently.

2. Check-in daily.

Ideally, anyone running a business will check in with it daily, but this is especially important when you run a business that has a cash-based income. It is absolutely essential that you use your stored receipts and transcribe them into a format that makes it easier to interpret what you want from them. You have a couple of options here:
• Use a spreadsheet application to keep a ledger.
The key here is consistency, you have to go into the spreadsheet at the end of every day and input each transaction. If business is booming, you don’t want to fall behind.
• Outsource your bookkeeping.
This is a great option if you don’t mind someone else handling your receipts, because you can get them to document your daily transactions and send the finished documents to your accountant. This will save you valuable time, and you’ll be able to check-in as often as you like, try for a few times a week.
• Use accounting software.
Accounting applications like Xero are great for this, because you can use a mobile application to transfer your receipts into electronic records. Said software then calculates your daily revenue and profit for you, and stores it in a cloud-based system, so if your computer dies you can be sure that you haven’t lost any valuable data.

3. Implement an electronic method.

If you don’t already utilise an electronic POS system for your receipts, an automated process will save you an enormous amount of time and money. The right one will provide you with the option to store merchant receipts straight away for every transaction, so the end-of-day slog will suddenly become a lot shorter. Whether you’re using an EFTPOS machine or a cash-register, hunt around for your ideal software and optimise your accounting process.

Ready to optimise?

Here at POS Technology we are the experts in all things point-of-sale. If you’re looking for advice on what hardware or software you should go for, visit us in store or contact us through our website and we’ll happily help you find the right system for your business.

Woman Using iPhone for Apple Pay New Zealand

These days, we can do everything with our smartphones. We can check the weather, see what traffic is like at 7am, search for products we want to buy online, and take great quality photos. And now, thanks to advancements in technology, our smartphones can also be mobile wallets.
Mobile payment is an amazing global phenomenon. When we physically shop in places that offer contactless payments (payWave), it eliminates the need for bringing wallets and pulling out cards. To pay with your phone, you simply tap it close to an EFTPOS terminal, as you normally would with a payWave card, and voila – payment made! It’s as easy as that. Not having to carry cards around also increases payment securities, no need to worry about losing your card or having your numbers exposed for the world to see – your smartphone takes care of all of that.
Despite this dream of a wallet-free life in New Zealand being so close, we are still very far from achieving it. Even Apple, one of the biggest smartphone brands in the country, still hasn’t quite taken off the ground as much as it already should have in terms of mobile payments. Similar to other providers, its mobile payment solution Apple Pay lets you enter your card details in, turning iPhones magically into mobile wallets. However, despite having such a convenient technology available at the fingertips of Apple users nationwide, New Zealand just doesn’t care about Apple Pay … yet.
Here are the reasons why NZ isn’t using Apple Pay:

Apple Pay Banks are Limited

Shockingly, there are only two banks in New Zealand that support Apple Pay: ANZ and BNZ. ANZ was at the forefront of the Apple Pay roll-out in 2016, making it available to customers with Visa credit or debit cards issued by the bank. For a year, ANZ was the only bank that offered Apple Pay, until BNZ followed suit very recently in October this year to reinforce its initial service Android Pay. ASB and Westpac also have their own mobile payment apps for smartphones, not wanting to rely on the big brands to provide the same service.
With such a limited number of banks (only two!) supporting Apple Pay, it’s no surprise NZ hasn’t caught on quite yet.

The Apple Market Share

Not every Kiwi owns an iPhone. There are many other smartphone brands available in the market, and most of them are cheaper alternatives. In the last quarter of 2016, Apple owned 31% of the vendor share for smartphone shipments to NZ, followed by Samsung, Huawei, Vodafone, Spark, and many others. Since then, its contenders haven’t been sleeping – Samsung released its powerful Samsung 8, Google released Google Pixel, among many other great smartphone releases in the industry as of late. With every year the smartphone competition is only getting more and more intense, potentially decreasing Apple’s market share overall. From here on out, Apple will have to really step up its game to win the hearts of Kiwis across the country.

Mobile payment is not an easily navigable industry, with surcharges and app royalties making the process hard for both banks and businesses to fully commit to any one software like Apple Pay. However, with an increasing number of locations offering payWave technology, and as more Kiwis start relying on their smartphones for virtually everything, New Zealand may well be on its way to leaving their wallets at home.
Get ahead in the industry and make sure your EFTPOS machine has the technology that supports mobile payments such as Apple Pay! Contact the experts here at POSCOM for the best updates and POS technical support!