Frequently Asked Questions

How do I know if my terminal is EMV and Triple DES compliant?
The best way is to phone us on 0800 235 235

Which EFTPOS terminals will be affected?
Every EFTPOS terminal in New Zealand has to comply with these new standards.

Why do we have these new standards?
EMV is required to accommodate chip cards and Triple DES increases PIN security. Both standards minimise the risk of fraud, improving security for customers, merchants and financial institutions.

What is liability shift?
This refers to who bears the responsibility for a fraudulent credit card transaction. Currently it is the bank. However, this responsibility may be shifted to merchants if they fail to comply with EMV. To find out more about how this liability shift may affect you, please contact your bank.

What is a chip card?
Also known as a "smart card", it is a plastic payment card containing an embedded security microchip. The chip contains more information than the magnetic stripe, makes it difficult to fraudulently copy the card details and facilitates more sophisticated transactions.

Why are chip cards better than ones with magnetic stripes?
There are two main reasons:

• The information on a magnetic stripe can be extracted using devices such as skimming machines. This information cannot be extracted from a chip.
• Chip cards can store more information, allowing more ways to confirm that the card is being used by its rightful owner.

Can chip cards be used for other purposes?
Because of the storage capacity on a chip card, it offers wide scope for future additional uses such as loyalty programmes, medical records and even passport information.

Will chip cards work on both EFTPOS terminals and ATM machines?
Yes. To find out more about ATM machines, please contact your bank.

When will I have to replace my EFTPOS terminal?
This depends on your EFTPOS terminal model and the software version. For more information, please phone us on 0800 235 235.

How long before I need to upgrade again?
Regular upgrades of EFTPOS equipment and software will be required in future. We will keep you up to date with industry security standards.

Will this change my bank fees?
For information on merchant services fees, please contact your bank.

For further information, contact us.