Payments NZ has announced temporary exemptions, expiring 30 September for PCI 3.x devices still operating after 1 July 2024. This gives business more time to comply with the mandatory EFTPOS upgrade. Read on to find out why the deadline was extended and how businesses can effectively use this additional time to upgrade.
Why was the deadline extended?
It's standard practice for EFTPOS terminal providers to proactively upgrade their customers to meet PCI security standards. However, many EFTPOS providers are still facing challenges meeting the PCI 3.x upgrade deadline. This is largely due to supply chain issues and resourcing concerns originating from the COVID-19 pandemic.
Feedback from the industry has highlighted the need for more time to ensure a smooth transition. In response Payments NZ has approved a final extension to 30 September 2024.
Good news for Eftpos NZ customers! Your terminal is either already compliant or will be upgraded well ahead of the deadline. We've got you covered! It's all part of the service.
How to make the most of the extension
Terminal providers are still under pressure to replace thousands of devices. This is a great chance for businesses to evaluate their current EFTPOS provider, especially since a physical terminal replacement is required to upgrade. If you have to go through a physical swap out anyway, why not shop around?
We upgraded our customers to Android EFTPOS for free. Is your provider keeping up? Take advantage of our limited-time offer of 12 months free terminal rental and complimentary surcharging.
FAQs
What is the new deadline for the PCI 3.x EFTPOS upgrade?
The sunset date for 3.x devices was April 2020. Temporary exemptions have extended the deadline to September 30, 2024, with a small number of bespoke exemptions granted which expire 31 March 2025.
Why was the PCI 3.x upgrade deadline extended?
The deadline was extended due to challenges businesses faced in meeting the initial deadline, caused by the COVID-19 pandemic.
What happens if my business does not comply with PCI 3.x standards?
While merchants won't incur penalties for non-compliance, there's a crucial risk of disconnection from the payment network.
How can I find out if my EFTPOS machine needs an upgrade?
Check the Device Register on the Payments NZ website here, or download our handy checklist which lists all PCI 3.x EFTPOS terminals registered in New Zealand below.
Why are PCI 3.x devices non-compliant?
The PCI Security Standards Council is a global organisation that establishes the security benchmarks for payments. Payments NZ serves as the regulatory body responsible for upholding these security standards in New Zealand. Payments NZ sets sunset dates for each new payment terminal and software version introduced to the market that align with PCI security standards. This helps to ensure every electronic payment is a secure and seamless experience for both you and your customers.
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