If you're setting up EFTPOS, the first thing you’ll need is a merchant number. It’s a key piece of the puzzle that connects your terminal to your bank so you can process payments. Here’s everything you need to know about getting one.
What is a Merchant Number?
A merchant number (also called a Merchant ID or Terminal ID) links your EFTPOS terminal to your business bank account, allowing you to accept payments. Without a merchant number, your terminal can’t process transactions.
Where Do You Get a Merchant Number?
Merchant numbers are provided by 'acquirers'— financial institutions that processes card payments. Your acquirer collects funds from cardholders and deposits them into your merchant account. In New Zealand, the main acquirers are ANZ, ASB, BNZ, Kiwibank, and Westpac. If you're using a Verifone EFTPOS terminal, you’ll need specifically need a Verifone merchant number from your bank.
How to Get a Merchant Number
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Contact Your Bank – If you’re already banking with one of the main acquirers - start there. If you're not sure which bank to choose, we can refer you to one.
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Complete the Application – Your bank will provide a form asking for details about your business. Make sure to fill it out and return it quickly—banks rarely follow up on outstanding applications.
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Wait for Approval – Once submitted, banks typically take up to a week or two to issue your merchant number.
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Send It to Us – Once you receive your merchant number, share it with us. We’ll load it onto your EFTPOS terminal and get you set up to start accepting payments.
Pro Tips for a Smooth Process
- Avoid non-bank acquirers - Bank acquirers offer transparent pricing, superior service, and unparalleled security, ensuring that your business is always in safe hands. Learn more here.
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Act Fast – The sooner you submit your application, the sooner you’ll get your merchant number
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Check Your Info – Ensure your details are correct to avoid delays
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Follow Up – If you haven’t heard back from your bank, check in to keep things moving
Ready to Get Started?
We’re here to help you navigate the process and get your EFTPOS up and running. Get in touch with our team today!
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