Westpac offers further credit card reduction for members

As part of our continued commitment to our members, Booksellers NZ has been working with Westpac to bring a further reduction in the discounted Visa and MasterCard credit card rates offered to members, reflecting both our value and position as a group. As well as the benefit of more competitive rates for new members to Booksellers NZ, these new rates will also be passed on to existing Booksellers NZ members registered with Westpac for discounted credit card processing from 1st May 2010.

Members currently processing credit card transactions via EFTPOS and Westpac will be reviewed down to 1.57% for cardholder Present transactions via EFTPOS, and 1.33% where the average transaction size is greater than $150. Westpac will send you a letter advising of a rate change, or, may send you a new merchant agreement for your attention, signature, and return to Westpac, at which time the new rate will be applied. We are advised on return of the new signed agreement, this is generally no more than a 5 day turnaround subject to the agreement being correctly signed. The new rate will also then apply for all of that calendar months trading and all future transactions.

We would also ask members to check their next Westpac Merchant Credit Card Statement to ensure you are on the correct rate. Members that would benefit by these new rates and do not yet process via Westpac, or, are with Westpac and have not previously registered to the Booksellers NZ scheme, should contact Westpac's Merchant team directly on 0800 888 066.

We are pleased to continue to work in partnership with Westpac and hope you enjoy this very competitive new offering to you.