A deep dive into EFT POS transaction switching: Why Switch39 is the Future

Published by Josip Povreslo on 04. September, 2023

The world of retail is evolving, and one area witnessing a rapid transformation is payment processing. For large retailers and acquiring banks, the conventional method of single-acquirer transaction processing is giving way to a more dynamic, efficient, and versatile approach—Electronic Funds Transfer (EFT) Point of Sale (POS) Transaction Switching. In this blog post, we're taking a deep dive into what EFT POS transaction switching means and why Field39’s Switch39 is fast becoming the gold standard in this realm.

What is EFT POS Transaction Switching?

EFT POS Transaction Switching serves as a digital relay for financial transactions. When a customer swipes or taps their card at a POS terminal, the transaction doesn't necessarily need to be processed by a single acquirer or bank. With EFT POS Transaction Switching, the transaction can be routed to multiple acquirers, based on predefined conditions like cost, speed, and acceptance rate. This opens up a host of benefits for retailers, ranging from cost savings to operational flexibility.

The Single-Acquirer Limitation

Traditionally, retailers and acquiring banks have been tied down to a single financial institution for transaction processing. This arrangement may seem simple, but it comes with a host of issues. Retailers are often stuck with whatever fees the acquirer decides to charge, not to mention the risks of service disruption if the acquirer experiences downtime or technical issues. For retailers operating in multiple regions, dealing with multiple currencies adds another layer of complexity and expense.

The Switch39 Advantage

That's where Switch39 by Field39 comes into play. Switch39 is a state-of-the-art EFT POS Transaction Switch specifically designed to break the single-acquirer chain. With Switch39, one POS terminal can route transactions to multiple acquirers, giving retailers and acquiring banks unprecedented flexibility. Here are some benefits of implementing Switch39:

  • Cost Savings: With the freedom to choose among multiple acquirers, retailers can opt for the one offering the lowest fees for each transaction, reducing overall transaction costs.
  • Operational Flexibility: If one acquirer experiences downtime or technical issues, transactions can be easily rerouted to another, ensuring uninterrupted service.
  • Global Reach: Retailers operating in multiple currencies or regions can effortlessly route transactions to the most appropriate local acquirer, simplifying compliance with local regulations.

How Switch39 Stands Out

Switch39 is not just another EFT POS Transaction Switch; it's built with the modern retailer and acquiring bank in mind. With a focus on agility, Switch39 allows for rapid deployments and adaptability, essential traits for any business eyeing market expansion. Add to this Field39’s reputation for cost-effective solutions, and you have a product that promises not just to meet but exceed expectations.

Final Thoughts

In an era where retail environments are becoming increasingly complex and competitive, flexibility in payment processing is no longer a luxury but a necessity. Switch39 delivers this flexibility with unparalleled efficiency, making it an invaluable asset for modern retailers and acquiring banks.

For those seeking to break free from the constraints of single-acquirer systems and open up a world of possibilities in payment processing, Switch39 is your answer. Interested in learning more? Contact our team for a one-on-one discussion on how Switch39 can transform your payment ecosystem.






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