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I was looking though our benchmarking data, it was striking how fast EFTpos is going up with our clients. The annual rate from Feb 2009 to Feb 2010 was 15.6%. Although the national rate is only a few percent, but it appears that to many of our clients they are rapidly moving more and more to a cash less society.

There are many risks associated with EFTpos. EFTpos is an unsecured line of credit. You are responsible for minimizing the risks associated with it. Recent events have now showed the problem of fraud where forged cards were used in the largest EFTpos fraud in Australia history in WA. As it is imperative for all businesses to adapt if customers are moving to EFTpos massively, we need to adapt to this new environment. So we did make a free webinar awhile ago on EFTpos.

Looking at these figures, we could justify another on EFTpos fraud. If you are interested, please let me know.