BNZ Payments Innovation Helps Small Business Stay Contactless And Save

Bank of New Zealand (BNZ) has unveiled a radical new way for Kiwi SMEs to pay for their point-of-sale transactions, giving them more flexibility and more clarity through low-fee payments packages. The changes mean SMEs will be able to offer contactless payments on their terminals with lower and more predictable costs.

In addition, BNZ has also upgraded its popular PayClip point of sale device to bring more features and more value to SMEs.

Payment packages deliver more value to small businesses

In December, small businesses will be able to choose packaged pricing for taking payments at the point of sale, starting at just $5 a month for $400 worth of transactions per month and flexing up to $545 for $54,000 worth of transactions.

BNZ Acting Executive, Customer, Products, and Services, Karna Luke, says, “We are changing the game for SMEs with a new way to pay for point-of-sale transactions.

“The new packages lower costs and provide greater certainty and transparency so small business owners can afford to take a wider range of payment types.

“Taking payments in person has traditionally meant different fees depending on what card the consumer presents and how they use it. Complexity and cost has meant contactless payments are often turned off.

“Our new flexible package pricing means small businesses can choose the payment package that suits their business sales volumes safe in the knowledge the costs will be more predictable regardless of the ways their customers decide to pay.

“Our packages mean business customers can plan and manage their costs with more certainty and clarity. For consumers, this will deliver a more consistent payment experience with more options.

“We think this will seriously change the game for SMEs and allow even more of them to leave contactless acceptance on,” says Luke.

Payment packages are flexible so customers can be sure they are always getting the best deal automatically with any usage over the transactions in the selected tier billed at a flat rate or automatically moved to the next tier – whichever is best for the business at the time.

If a customer is on a higher tier and has a quieter month, they will automatically be moved down to the lower package for that month to suit their needs, or zero if there is no activity.

The packages are available to small business with volumes up to $75,000 per month and include international transactions up to 10% of total sales. BNZ’s other pricing options such as split pricing and Interchange Plus are still available for merchants with different needs including higher international volumes

EFTPOS remains free and does not count toward the transactions.

Add a new PayClip device to your package and take payments anywhere

BNZ has also give its popular mobile payments device, PayClip, another major upgrade and reduced costs .

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