We have heard from several retailers over the last week that they are experiencing an increase in eftpos transactions.. In two cases, the value of eftpos transactions has doubled this year compared to last year. The increase can be tracked to ease of processing. By making eftpos processing easier and negotiating lower rates for our customers we have made it a more appealing payment method compared to the labour intensive and risk prone cash. While I also think that the economy is playing a role here, support from retail business owners (as a result of ease of use) is a crucial factor.
With further enhancements anticipated in this area I can only see eftpos transactions growing further.