NZ retailers disconnected

risks to the safety and security of transactions, reveals Stuff.co.nz.

About 400 EFT-POS machines were disconnected from the Paymark network - cutting off those retailers from processing EFT-POS transactions.

"The disconnections come as a result of retailers who, despite months of warning, have not upgraded out-of-date terminals," says Paymark CEO, Simon Tong.

According to Sun Live, electronic transaction company Paymark is not revealing if Bay of Plenty retailers are among the businesses that face having their EFT-POS terminals disconnected.

TVNZ reports the retailers have been operating under an agreement with their bank, which has allowed them extra time to get their equipment upgraded.

The retailers being cut off represent a cross-section of industries ranging from small businesses to large corporate merchants.