Cheapest EFTPOS Rates in Australia (2026)

Provider Pricing

Real EFTPOS Rates
from 6+ Providers

Below is a snapshot of current EFTPOS pricing from Australia's major payment processors. Rates vary by business type and turnover — these are typical starting points.

Disclaimer: These rates are indicative and vary by business category, turnover, payment method mix, and current promotions. Contact providers directly or speak to us for a personalised quote.

Understanding EFTPOS Pricing

Most business owners see one number — their EFTPOS rate — and assume that's all they're paying. It's not. Real EFTPOS pricing is more complex. Understanding the components helps you spot the actual cheapest deal.

Blended vs. Interchange++

Blended rates are simpler: a single percentage applied to every transaction. You see 1.5%, you pay 1.5% on everything. Easier to understand, but often more expensive because banks bundle different card types together.

Interchange++ pricing (also called cost-plus) separates the actual card network fee (interchange) from the bank's markup. Example: Visa EFTPOS interchange is 0.45%, plus your bank's 0.7% markup = 1.15% total. More transparent, typically cheaper for high-volume businesses.

What Is Interchange?

Interchange is the base fee set by Visa, Mastercard, and local schemes for each card type. Banks don't set this — they're passed it on. A debit card EFTPOS has lower interchange than a rewards credit card. This is why smart providers break out your rate by card type.

How Banks Bundle Fees

Most banks lump everything into one blended rate to hide what you're actually paying. Here's what's often hidden:

• Card processing fee: The percentage on card payments (credit, debit, rewards).
• Acquirer markup: What the bank charges on top of interchange.
• Fixed monthly fees: Charges just for having the service.
• Terminal fees: Lease, maintenance, or upgrades.
• Settlement fees: Some banks charge to move money to your account.

A provider quoting "1.1% flat" might genuinely be cheaper than one quoting "1.4%" — because the latter includes hidden monthly fees, while the former doesn't.

Cheapest Options
by Business Type

There is no single 'cheapest provider' because the optimal deal depends on your business model. Here's how to think about it:

Low-Volume Businesses (Under $50k/month)

• Best option: Zeller or Square. Both offer flat rates (1.4–1.6%), no monthly fees, and month-to-month contracts. Avoid long-term commitments when your turnover is low.
• Cost for $10k monthly turnover at 1.5%: $150/month in fees.

High-Volume Retail (Over $200k/month)

• Best option: Tyro or negotiate with NAB/CBA. At high volumes, interchange++ pricing saves thousands annually. Tyro's 1.1% + 8¢ model works well for high-frequency, small-ticket retailers.
• Cost for $200k monthly turnover at 1.2%: $2,400/month — but you might negotiate down 0.2–0.3% with larger banks.

Hospitality (Restaurants, Bars, Pubs)

• Best option: Tyro or exclusive deals through Eftpos Brokers. Hospitality sees high card volumes and often benefits from Qantas Points partnerships.
• The hidden win: A client earning 720,000 Qantas Points annually effectively gets a bonus rebate on top of competitive rates.

Trade Services (Plumbing, Electricians, Building)

• Best option: NAB, Westpac, or CBA. Tradespeople often have lower volumes but larger transaction sizes. Negotiated flat rates (1.1–1.3%) are achievable.
• Why not cheap rate-card providers: You need proper integration with invoicing software and reliable settlement. Premium support is worth the slightly higher fee.

E-commerce & Online

• Best option: Stripe or Zeller. Both specialise in online payments, offer competitive rates (1.4–1.6%), and integrate with modern e-commerce platforms.
• Why they're cheaper online: Lower fraud risk, no physical card-not-present transactions, predictable monthly volumes.

Hidden Costs Nobody
Talks About

The EFTPOS rate quoted to you is only one part of the cost. Here are the fees that quietly bleed thousands from your business:

Early Termination Fees

Most banks lock you in for 2–3 years. Breaking the contract early costs $500–$2,000+. If you're quoted a 'cheap' rate but locked into a 3-year contract, switching to a better deal later becomes very expensive.

Minimum Monthly Fees

Some providers charge $30–$80/month just to have the service, even if you process $0 that month. For seasonal or low-volume businesses, these add up to $360–$960 annually before you've processed a single payment.

PCI Non-Compliance Penalties

If your terminal or system isn't Payment Card Industry (PCI) compliant, some providers fine you $25–$100/month. Update your terminal to stay compliant — it's often forced through provider upgrades.

Statement & Reporting Fees

Some banks charge $5–$15 per monthly statement or $50–$200 annually for detailed reporting. Modern providers include this free; older banks still nickle-and-dime.

Equipment Insurance & Lease Costs

If you lease a terminal rather than own it, you're paying $15–$30/month indefinitely. Buy outright instead. Also, some 'free terminal' offers come with mandatory insurance you don't need.

Settlement Delay Costs

If your provider settles funds T+2 (2 business days) instead of T+0 (same day), you're effectively lending the bank money. For high-turnover businesses, this ties up $5k–$50k+ at any given time. That's an invisible cost.

Payment Gateway Fees (For Online)

E-commerce providers sometimes charge separate gateway fees on top of the card rate. Ask: is the quoted 1.5% all-in, or is there a 0.5% gateway fee on top?

Why the Cheapest Rate
Isn't Always the Best Deal

Chasing the lowest percentage can cost you money in other ways. Here's what matters beyond the rate:

Settlement Speed Costs Real Money

A provider offering 1.4% with T+2 settlement vs. 1.5% with T+0 settlement: the extra 0.1% on $100k monthly turnover is $100. But delayed settlement ties up your cash — with working capital at risk, that delay can cost you flexibility or force you to borrow.

Support Quality Matters When Things Break

The cheapest providers often have minimal support. Your terminal breaks on Friday and you can't take payments until Monday. That downtime costs more than the savings from a 0.2% rate difference.

Integration Capability Saves Hours

If your EFTPOS provider integrates with your POS, invoicing, or accounting system, you save hours weekly on manual reconciliation. Cheap providers often don't integrate, costing you time or forcing manual workarounds.

Perks Add Real Value

Earning Qantas Points, getting cashback, or qualifying for the Eftpos Brokers Mastercard program can add $5k–$50k+ annually in value. A 1.5% rate with Qantas Points is often better than 1.3% with no perks.

Flexibility Protects Your Future

Month-to-month contracts (Tyro, Zeller) let you switch if your business needs change or a better deal comes along. Being locked into a 3-year contract at a cheap rate means you miss better opportunities.

Reliability Prevents Revenue Loss

A provider that settles on time, rarely goes down, and offers redundancy is worth more than a budget option that occasionally fails to process payments.

FAQ: EFTPOS Rates