What is a merchant account?

A merchant account is a special type of bank account that receives funds that have been authorised by a payment gateway. It holds onto these funds for a defined period of time before transferring them to a business bank account in batches. This way, your business account is not receiving hundreds (or thousands) of individual deposits each day. Merchant accounts …

14 Critical Questions to Ask Before you Choose a Payment Gateway

If your business sells products or services online, you will need some type of online payment system. Payment gateways are one option that you could consider but don’t forget to do your due diligence. Read on for the 14 essential questions you should be asking before you choose a payment gateway. Related articles Need help choosing the right payment system …

10 Reasons Why Your Pharmacy Should Sell Online

As technology advances and New Zealand – along with the rest of the world – becomes increasingly dependent on e-services, your pharmacy could greatly benefit by embracing eCommerce. Advantages of having an online pharmacy Let’s look at the top 10 reasons your pharmacy should consider selling online. 1. Attract more customers This is the first and most obvious advantage of …

Credit card surcharges and why you don’t need to charge them

What is a credit card surcharge? How many times have you gone up to buy something online, and at the final stage of the process there’s a small note in fine print: “Please note, if you are paying by credit card there will be a 2% surcharge.” You may have a similar notice on your website or next to the …

Kiwis shun credit cards to favour other payment options

Faced with economic uncertainty, New Zealanders are being wily with their hard-earned cash and are avoiding getting into more credit card debt, while still supporting local online businesses with direct payments. In the past three months the total amount owed to banks that operate credit cards plummeted by around $1 billion, as Kiwis opted out of using their credit cards …

What is Open Banking? (And why the banks don’t have to worry.)

An opinion by Allister Hunter Allister Hunter is a payments expert and has worked in the banking industry as well as Merco Ltd, the New Zealand distributor of the POLi Payment service where he is Chairman and Director of Payments Strategy. Merco Ltd is a registered third-party Standards User of the Payments NZ API Centre and Allister is a member …

9 reasons to offer Shopify shoppers more than just credit card payment options

The impact of COVID-19 is likely to be felt by New Zealand retailers and shoppers for the foreseeable future. Investing in your Shopify store is critical but something that is often missed is considering the payment preferences and circumstances of your customers . The default position of offering credit card facilities only needs to be challenged. Here are 9 extremely …

Definitive guide to Payment Gateways

If, like many New Zealand online retailers, you’re trying to get your head around the complexities of payment gateways, you need to read this guide!This in-depth article will walk you through the key things you should look out for when trying to implement an online payment system in New Zealand, including details on the dreaded ‘internet merchant bank account’. Contents …

evolving digital economy with POLipay and Merco

The future of digital payments

It’s still early days when it comes to the ‘digital economy’ and yet I’m sure you agree that the rate of change is daunting. I must admit it’s exciting to be an innovator in e-commerce, an area that will continue to have transformative impacts on the way we live and work. From my comfy leather seat in Auckland, it’s easy …