Tag: EFTPOS

While Australians recognise the name, many don’t know how eftpos works and what happens when customers press ‘CHQ’, ‘SAV’ or ‘CR’ at the checkout.

Consumer confidence will likely take another hit unless the big banks reject a looming deadline to raise EFTPOS fees, with proposed new “interchange fees” to come into effect from 1 October.

Cashflow remains a key priority for small businesses, with Dun & Bradstreet’s latest trade payment survey showing payment terms have reached three-year highs, with the average time it takes a debtor to pay a bill jumping more than five days in the first quarter of 2011. With cashflow back on the agenda, there’s evidence more businesses are reviewing their payment options to bring cash into the business faster.

EFTPOS transactions continue to surge in Australia, with one billion transactions processed in the six months to the 31st of December 2010.

National Australia Bank’s payment problems over the last week have Australian retailers proposing legal action against in the form of a national class action to recover the loses incurred due to the bank’s failures over the last week, such legal action is unlikely to be successful however.

National Australia Bank’s payment problems over the last week have Australian retailers up in arms proposing legal action against NAB in the form of a national class action to recover the loses incurred due to the bank’s failures over the last week.

National Australia Bank has reportedly resolved the bank’s problems processing customer payments and transactions from last week, with payments that both business and personal banking customers were waiting for from last week reportedly appearing in bank accounts this morning.

National Australia Bank has issued a further follow up statement over the bank’s problems processing customer payments and transactions over the last two nights, with payments from Wednesday night now processed but flow on effects still delaying payments made yesterday according to a statement NAB issued this morning.

National Australia Bank has issued a follow up statement that the banks problems processing customer payments and transactions over the last two nights should now be resolved, with no further delays to EFTPOS, ATM and other electronic payments expected by the bank past this morning.

National Australia Bank has issued a statement that the bank has had problems processing customer payments and transactions overnight, with this possibly causing delays to EFTPOS, ATM and other electronic payments today.