The way you process credit and debit cards is about to change
As part of an industry-wide move to ensure greater security in transactions, the way you process credit and debit cards is about to change.
What’s changing exactly?
Currently, when you swipe or enter a customer’s card in an EFTPOS terminal, the customer is given the option to enter a PIN number or sign for their transaction. After August 1, 2014, your terminal will be updated (over a rollout period) to only present the customer with the option to enter a PIN. This excludes contactless, or ‘paywave/paypass’ transactions under $100.
Who does it affect?
This change affects all Suncorp EFTPOS and Integrated POS terminal merchants where the cardholder is present at the time of the transaction (Virtual POS Payment Gateway merchants are not included).
When does the change come into effect?
From 1 August 2014 to 18 October 2014 your EFTPOS terminal will be remotely updated. There will be no cost incurred by merchants for this upgrade.
To help prepare businesses for this change, an Industry PINwise website has been launched, which includes an extensive list of frequently asked questions. For more information visit www.pinwise.com.au/merchant.