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Will Floor Limits still be honoured with EFTPOS transactions?

April 26, 2017Eftpos floor honoured limits transactions

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Will Floor Limits still be honoured with EFTPOS transactions?

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Floor limits have been used to guarantee the funds to a selling member when a transaction was initiated, in the absence of an electronic funds transferring system. With the introduction of EFTPOS, it is no longer necessary to rely on the floor limits of cards as processing is “live” and immediate. Transactions will now be based on funds availability and active account status.