Tips For Transferring Your EFTPOS Contract: Talking To The New Owner

Business Tips

By EFTPOS NZ March 07, 2025 2 minutes read time

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When a business changes hands, a smooth handover matters, especially when it comes to payments. If you're selling your business, helping the new owner understand why they should keep the existing EFTPOS setup can save everyone time, money, and hassle.

Why Keep the EFTPOS Setup?

1. No downtime
A contract transfer means the terminal stays where it is and ready to go. The new owner can keep trading from day one without waiting for a new provider to install equipment.

2. No setup costs
Starting fresh often means extra costs: new hardware, setup fees, and delays. Keeping the current setup avoids all that. Plus, the new owner can adjust the EFTPOS plan to suit them.

3. Less admin
Choosing and setting up a new provider takes time. With the existing setup, the new owner can skip the paperwork and focus on running the business.

4. Trusted support from Eftpos NZ
We offer 24/7 local support, a free reporting portal, and a wide range of value-add services. The new owner gets a reliable solution, with help when they need it.

5. No early termination fees
Cancelling the contract early could mean fees for you. A contract transfer avoids these and gives the new owner a ready-to-use terminal.

What to Tell the New Owner

Be upfront early in the sale process. Let them know:

There's an existing EFTPOS contract they can take over
They'll avoid setup costs and downtime
The transfer is quick and easy — no new gear needed

Sample Email

Subject: EFTPOS Setup for [Business Name]

Hi [New Owner's Name],

Congrats on taking over [Business Name]!

We’ve been using Eftpos NZ for our EFTPOS setup. You can take over the existing terminal instead of setting up a new one.

They’ll set up a new contract under your name and can offer a competitive rate. I’ll pass your details to their team, but feel free to get in touch directly. If you don’t have one yet, you’ll need a Verifone Terminal/Merchant ID from your bank, worth requesting now.

Let me know if you have any questions.