What is happening?

Coles and Wesfarmers (excluding Bunnings) have started to roll out software changes on their merchant terminals from 1 October 2019 to update transaction routing capabilities. This change will process contactless multinetwork debit card transactions (Visa payWave) via the eftpos network instead of Visa or Mastercard networks. ie. Least Cost Routing.

All Contactless multinetwork debit transactions (Visa payWave) at Coles or Wesfarmers (excluding Bunnings) merchant terminals will be routed via the eHub. This means that this will use up your one of your 15 free debit transactions.

Card present transactions where a cardholder inserts the card and selects ‘Credit’ or ‘Visa Debit’ transactions will continue to be routed via Visa or Mastercard networks. This still means that by pressing ‘Credit’ or ‘Visa Debit’ you will not affect your 15 free Debit transactions a month.

When completing an eftpos transaction within Australia we encourage you to press the Credit button. This transaction does not count towards your 15 free transactions and will not incur the fee of $1.25 for transactions exceeding the 15 free. There is no limit to the amount of VISA Credit transactions you can complete

What does this mean for me?

Please be aware that using Visa PayWave at Coles and Wesfarmers will now be routed through the eftpos network which will count towards your 15 free transactions.

Any questions regarding this please don’t hesitate to give one of our staff a call on (02) 42265900 or email us at Enquiries@lysaghtcu.com.au.