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Thousands of retailers are being told they will have a potential nightmare on their hands, if they fail to upgrade their eftpos terminals before Christmas.
Eftpos supplier Viaduct is warning businesses their terminals will not be able to read bank cards which have new new microchip technology if they do not upgrade their terminals.
Director Mark Unwin says the cut-off date is January 1, 2008, but retailers need to replace equipment now because the process can take up to six weeks.
He says if retailers leave it to the last minute, there will be many unhappy Christmas shoppers.
Retailers must also make sure their upgrade is compatible with other bank card changes in the pipeline.
Mr Unwin says the new machines will help to reduce credit card fraud and improve PIN security.
- NEWSTALK ZB
