PIN only purchases from 1st of August 2014

PIN only purchases from 1st of August 2014

For any Readysell customers using EFTPOS (for example, Readysell integrated EFTPOS, powered by PC-EFTPOS), it is important to note that from the 1st of August, PIN codes will replace signature for credit card transactions across Australia. This change is being made by the PINwise Industry Security Initiative to improve Australia’s card security standards for payments.

From August 1st you'll need a PIN for most credit and debit card transactions

From August 1st 2014 a PIN will be required at all point-of-sale terminals in Australia for purchases of goods and services, as well as cash-out transactions, if the customer’s card supports them. The only exceptions to this will be when conducting a contactless transaction under $100 or a small ticket purchase (under $35) or a transaction from most unattended terminals. Until August 1st signature remains a valid form of cardholder verification for Australian issued cards and should be accepted if the customer insists on using this method.

If the terminal has requested a PIN then it will not allow the transaction to continue unless the customer’s PIN is entered. Therefore it is important that you tell your customers to have and use a PIN as soon as possible in order to avoid any issues with processing their payments in the future.

As mentioned above, there will be infrequent cases where the customer will need to sign for the transaction rather than enter the PIN (e.g. cards from overseas). In these cases, the terminal will indicate that the customer should sign the receipt.

PINwise has information for merchants available at their web site. If you have any further questions about how this may affect you, please contact your bank or get in touch with us via the Readysell Support Centre.