Editing Debit card (section)

===New Zealand===
EFTPOS ([[electronic fund transfer]] at [[point of sale]]) in New Zealand was highly popular until other forms of payment began to take over in the 2010s. In 2006, 70 percent of all retail transactions were made by EFTPOS, with an average of 306 EFTPOS transactions being made per person. By 2023, this had declined to a little over 20%.<ref>{{cite web | url=https://www.rnz.co.nz/national/programmes/checkpoint/audio/2018902290/eftpos-plummets-in-popularity-as-newer-forms-of-payment-emerge | title=Eftpos plummets in popularity as newer forms of payment emerge | website=[[Radio New Zealand]] | date=11 August 2023 }}</ref>

The system involves the merchant swiping (or inserting) the customer's card and entering the purchase amount. Point of sale systems with integrated EFTPOS often send the purchase total to the terminal and the customer swipes their own card. The customer then selects the account they wish to use: Current/Cheque (CHQ), Savings (SAV), or Credit Card (CRD), before entering in their PIN. After a short processing time in which the terminal contacts the EFTPOS network and the bank, the transaction is approved (or declined) and a receipt is printed. The EFTPOS system is used for credit cards as well, with a customer selecting Credit Card and entering their PIN.

Nearly all retail outlets have EFTPOS facilities, to the point that retailers without EFTPOS normally advertise 'cash only'. The main exceptions are small traders at farmers markets and other occasional outlets. Most mobile operators such as taxis, stall holders and pizza deliverers have mobile EFTPOS systems. The system is made up of two primary networks: EFTPOS NZ, which is owned by [[VeriFone]]<ref>{{cite web|title=About EFTPOS NZ|url=https://eftpos.co.nz/about|publisher=EFTPOS NZ|access-date=2014-12-09|archive-date=2018-01-27|archive-url=https://web.archive.org/web/20180127045859/https://eftpos.co.nz/about|url-status=dead}}</ref> and Worldline NZ, which is owned by ANZ Bank New Zealand, [[ASB Bank]], [[Westpac]] and the [[Bank of New Zealand]].<ref>{{cite web|url=https://www.paymark.co.nz/cms_display.php?sn=31&st=1 |title=New Zealand's leading electronic payments provider |publisher=Paymark |access-date=2012-12-30 |url-status=dead |archive-url=https://web.archive.org/web/20120514091441/https://www.paymark.co.nz/cms_display.php?st=1&sn=31 |archive-date=2012-05-14 }}</ref> The two networks are intertwined, highly sophisticated and secure, able to handle huge volumes of transactions during busy periods such as the lead-up to Christmas. Network failures are rare, but when they occur they cause massive disruption, major delays and loss of income for businesses. The [[CrowdStrike]] failure in July 2024 was one such incident.

Merchants and customers are not charged a fee for using EFTPOS - merchants only have to pay for the equipment rental.

One of the disadvantages of New Zealand's well-established EFTPOS system is that it is incompatible with overseas systems and non-face-to-face purchases. In response to this, many banks since 2005 have introduced international debit cards such as [[Maestro (debit card)|Maestro]] and Visa Debit which work online and overseas as well as on the New Zealand EFTPOS system.