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Best EFTPOS Machines for Small Business in 2026

We compare eftpos machines for a living. Here's what we recommend.

Quick Picks

Best Overall

Tyro Go
From 1.1% + 8¢

Best for Simplicity

Zeller Terminal 2
1.4% flat

Cheapest Entry

Square Reader
$59 upfront

Best Rewards

Qantas Points
Via Eftpos Brokers

Zero Cost

Smartpay
$0 terminal

Detailed Reviews

Tyro Go

Upfront Cost
$299
Rates
From 1.1% + 8¢
Settlement
Next business day
Connectivity
4G + WiFi

Pros

  • 300+ POS integrations—works with nearly every system
  • Competitive interchange-based pricing (you only pay what it costs to process)
  • Built-in receipt printer saves paper and desk space
  • Fast 4G + WiFi connectivity means zero downtime
  • Great support—Tyro actually picks up the phone

Cons

  • Higher upfront cost than some competitors
  • Not the absolute cheapest on rates (but highly competitive)
Our verdict: Tyro Go is the machine we most often recommend to customers with integrated POS systems. The rate structure is genuinely competitive, and the broad integrations mean no compatibility headaches. If you've got existing software you want to keep, Tyro is your safest bet.

Zeller Terminal 2

Upfront Cost
$199
Rates
1.4% flat all cards
Settlement
Same-day available
Screen
18% larger than v1

Pros

  • One flat rate on all cards—no surprises or complex fee tiers
  • 18% larger screen makes it easier to read and navigate (especially for older eyes)
  • Same-day settlement if you need cash fast
  • Affordable upfront at $199
  • WiFi + 4G backup keeps you online

Cons

  • 1.4% flat is straightforward but potentially higher than interchange-based for rewards cards
  • Smaller ecosystem of integrations than Tyro
Our verdict: Zeller Terminal 2 appeals to businesses that want simplicity above all else. A single rate and a larger, friendlier screen make it ideal if you value ease of use over squeezing the last basis point of savings.

Square Terminal

Upfront Cost
$329 (interest-free plans)
Rates
1.6% flat
Settlement
Next business day
Offline Mode
Yes

Pros

  • Offline mode works even if WiFi or 4G drops—rare but valuable in a pinch
  • Built-in receipt printer included
  • Interest-free payment plans soften the upfront $329
  • Square's ecosystem is tight and user-friendly
  • Good choice if you're already using Square for POS or invoicing

Cons

  • 1.6% flat is on the higher side
  • Less integration flexibility than Tyro if you need custom POS setups
Our verdict: Square Terminal is solid if you're already in the Square ecosystem or value offline reliability. The 1.6% rate is workable for low-risk businesses but gets expensive at higher volumes.

Square Reader

Upfront Cost
$59
Rates
1.6% flat
Type
Tap-only mobile reader
Best for
Low-volume mobile/pop-up

Pros

  • Incredibly cheap entry at just $59
  • Mobile—works anywhere you have your phone
  • Pairs instantly with iPhone or Android
  • Perfect for markets, pop-ups, or field service businesses
  • No fixed terminal to carry or maintain

Cons

  • Tap-only—no fallback for contactless-refusing customers (rare but happens)
  • Relies on your phone's battery and internet
  • Slower for high-volume venues (no physical terminal)
  • 1.6% is steep for a small reader
Our verdict: Square Reader is our go-to recommendation for anyone starting out with minimal upfront spend. The $59 barrier to entry is unbeatable. For pure transaction volume, a fixed terminal makes sense, but if you're mobile or testing the waters, Square Reader is the play.

NAB EFTPOS Terminal

Cost Model
Leased (no upfront)
Rates
From 1.15% flat
Settlement
Same-day for NAB accounts
Support
NAB bank support

Pros

  • No upfront outlay—NAB covers the cost of the terminal
  • Competitive 1.15% flat rate
  • Same-day settlement if you bank with NAB
  • Peace of mind of dealing with a major Australian bank
  • Integrated with NAB merchant services (invoicing, reporting, etc.)

Cons

  • You're locked into NAB as your merchant bank—no switching without hassle
  • Lease costs add up over time (higher long-term cost than owning)
  • Less flexibility on pricing if you grow and want to negotiate
Our verdict: NAB EFTPOS works if you're already banking with them and want a zero-upfront solution. The 1.15% rate is fair. But avoid if you think you'll want flexibility—you'll end up paying more in fees and switching costs than you'd save.

CBA Smart Terminal

Cost Model
Leased (no upfront)
Rates
From ~1.1% negotiable
Settlement
Same-day for CBA accounts
Industry Apps
Yes—customised

Pros

  • No upfront cost—CBA handles the hardware
  • Highly negotiable rates from ~1.1% (especially for existing CBA customers)
  • Industry-specific apps available (restaurant, retail, hospitality modules)
  • Same-day settlement with CBA account
  • Large enterprise support if you grow

Cons

  • CBA's on-call support can be slow for smaller businesses
  • Locked into CBA as your merchant bank
  • Lease costs over time still exceed owning outright
  • Negotiable rates mean your deal depends on how hard you push—we do that for you
Our verdict: CBA Smart Terminal appeals to bigger businesses or those needing industry-specific features. The room to negotiate on 1.1% pricing makes it competitive, but again, you're tethered to CBA long-term. We often help clients get better CBA deals than they'd negotiate alone.

Smartpay Terminal

Terminal Cost
$0 (min $10k/month turnover)
Rates
0% (surcharge model)
Options
Countertop & portable
Best for
High-volume venues

Pros

  • Zero terminal cost and zero processing fees—surcharges cover Smartpay entirely
  • At high volumes ($10k+/month), this becomes genuinely cheaper than interchange-based
  • Countertop and portable options give you flexibility
  • No hidden fees or complex rate cards—everything is transparent
  • Perfect for venues that can legally surcharge (hospitality, gaming, etc.)

Cons

  • $10k/month minimum turnover—not suitable for very small businesses
  • Surcharging is a hard sell to customers, even if it's legal
  • Lower volume businesses end up worse off than with conventional rates
Our verdict: Smartpay is genuinely clever if you meet the volume threshold and can surcharge. For a pub doing $50k/month in card sales, the maths is compelling. For a cafe at $8k/month, it doesn't work. Know your numbers before committing.

How to Choose the Right EFTPOS Machine

Integrated vs. Standalone

If you're using POS software like Toast, Square, Lightspeed, or Kounta, you want a machine that integrates with it. Tyro, Square, and Zeller all integrate well. If you're not sure, ask your POS provider which machines they recommend—or ask us.

Countertop vs. Portable

Countertop machines (Tyro Go, Zeller Terminal 2, Square Terminal) are best for fixed venues. Portable readers (Square Reader, some Smartpay options) suit market traders, mobile services, and pop-ups. Consider your foot traffic and setup.

Fee Structures

Compare "all-in" costs: upfront + monthly lease/support + per-transaction fees. A cheap reader becomes expensive at high volumes. A pricey terminal becomes worthwhile if rates are competitive. We do this maths for your specific numbers.

Settlement Speed

Most offer next-business-day settlement. Some offer same-day (Zeller, NAB, CBA, Smartpay). If cash flow is tight, same-day might be worth the trade-off. For most businesses, overnight is fine and saves a few basis points.

Support & Reliability

You'll rely on this machine to run your business. Tyro and Square have excellent support. Smaller providers are cheaper but may take longer to help. Factor in how much downtime costs you.

Rewards & Perks

Qantas Points, cashback, and rebates add up over time. We unlock exclusive deals with most major providers. A 0.2% lower rate might not sound like much, but on $100k annual turnover, that's $200 back in your pocket each year.

Don't Choose Alone

Comparing terminals is only half the battle. The real savings come from finding the right provider, negotiating rates, and unlocking exclusive perks you'd never know about otherwise.

That's what we do. We work with all 20+ major providers—Tyro, Square, Zeller, Smartpay, NAB, CBA, Westpac, ANZ, Stripe, and more. We know the real rates (not the marketing ones), which providers will move on price, and where the hidden wins are.

Best part? It's completely free. We're paid by providers, not you. If we can't beat your current deal, we'll tell you straight up.

Book a Quick Chat 1800 595 340

Frequently Asked Questions

What's the difference between buying and leasing an EFTPOS terminal?

Buying means you own the machine outright (Tyro Go, Square Terminal, Square Reader). Leasing means the bank or provider owns it and you pay monthly (NAB, CBA). Ownership costs less long-term but requires upfront cash. Leases lock you in but spread the cost. For most small businesses, we recommend buying once you've got $500+ monthly turnover—the machines pay for themselves within 6–12 months.

Can I use any EFTPOS machine with my POS system?

Not always. Most modern machines integrate with Square, Toast, Lightspeed, and Kounta. But if you're using older or bespoke software, you might need a specific terminal or a workaround. Check your POS provider's compatibility list first, or send us a copy of your setup and we'll confirm what will and won't work.

What's the real cost difference between 1.1% and 1.6%?

On $10,000 monthly turnover, it's $50 per month or $600 per year. On $50,000, it's $2,500 annually. That's real money. Most of our clients save $1,000–$5,000 per year by switching to a better rate or provider. We work out the exact number for your business.

Do I need same-day settlement?

Only if cash flow is critical. Most businesses operate fine on next-business-day settlement. Same-day costs a tiny bit more and is usually worth it only if you have irregular expenses, seasonal income, or slim margins. If you're unsure, assume next-day and let us know if things change.

Not Sure Which Machine is Right?

We've probably compared machines for a business just like yours. Forget the product pages and marketing blurb. Let's work out what actually makes sense for your numbers, your setup, and your goals.

Book Your Free Consultation Call 1800 595 340