How to Explain the Benefits of Keeping the Existing EFTPOS Setup to a New Owner

Written by EFTPOS NZ | Thursday, March 6, 2025

When a business changes hands, there are a lot of moving parts to consider, and payment processing is one of the most crucial. As a current owner, helping the new owner understand the benefits of keeping the existing EFTPOS setup can make their transition smoother while saving both parties time and money.

Why Should the New Owner Keep the Existing EFTPOS Setup?

1. Seamless Transition with No Downtime

The biggest advantage of keeping the current EFTPOS setup is avoiding any disruption to business operations. With a contract transfer, the terminal stays in place, and the new owner can continue accepting payments immediately. This eliminates the risk of downtime while waiting for a new provider to install and activate a terminal.

2. Cost Savings on Setup and Fees

Switching to a new EFTPOS provider often comes with setup fees, new hardware costs, and installation delays. By transferring the existing contract, the new owner saves on these expenses. The new owner can also negotiate the rate and adjust the EFTPOS solution to suit their requirements.

3. Avoid the Hassle of Sourcing a New Provider

Finding and setting up a new EFTPOS provider can be time-consuming. The new owner would have to compare providers, go through approvals, and install new equipment. Keeping the existing setup means they can focus on taking over the business instead of dealing with administrative headaches.

4. Reliable Service and Support from EFTPOS NZ

EFTPOS NZ provides 24/7 support, ensuring that any technical issues are resolved quickly. By continuing with the existing setup, the new owner benefits from a trusted provider that offers dependable EFTPOS solutions and comprehensive customer support.

5. No Hidden or Early Termination Fees

Many EFTPOS contracts include penalties for early termination. By transferring the contract instead of cancelling it, the seller avoids these fees, and the new owner inherits a fully operational payment system with no additional setup costs.

How to Explain This to the New Owner

Here are some key points to cover:

Mention the existing contract early in the business sale process so the new owner is aware of it
Highlight the benefits, focusing on cost savings, convenience, and uninterrupted service. Plus, Eftpos NZ offers proven, market-leading Android EFTPOS, a free reporting portal and wide-range of value-add features and services.
Reassure them that the process is quick and easy, with no need for new equipment or waiting periods

Sample Email: Informing the New Owner About EFTPOS Contract Transfer

Subject: Important: EFTPOS Setup for [Business Name]

Hi [New Owner’s Name],

Congratulations on taking over [Business Name]! To ensure a smooth transition, I wanted to give you a quick update about the existing EFTPOS setup.

Our EFTPOS terminal is provided by Eftpos NZ, and the good news is that you can seamlessly take over the existing equipment rather than setting up a new EFTPOS machine. This means:

No need to source and install a new terminal – you can start taking payments right away
Avoiding any downtime or disruptions in payment processing
No setup fees – EFTPOS NZ takes care of the transfer process
EFTPOS NZ is happy to discuss a competitive new rate with you as we will be setting up a new contract under your name

I'll pass your details along to the team at Eftpos NZ and they will be in touch to take you through the process. I recommend requesting a Verifone Terminal/Merchant ID from your bank now if you don't already have one.

Let me know if you have any questions!

Next Steps

If the new owner agrees to take over the EFTPOS setup, you can start the transfer process by completing the Change of Ownership Form(insert link).
EFTPOS NZ will handle the transition, ensuring a smooth switch without disruptions.

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