There are a few things to consider when looking at EFTPOS machine costs.
The costs can vary depending on the size of your business (i.e. the volume of sales and the number of transactions you are likely to be accepting over a period of time), the number and type of machine/s you acquire, and of course the merchant services provider you choose.
Purchase or Rental: Will you purchase your terminal outright or would you prefer a rental agreement (i.e. EFTPOS machine hire costs)?
At More Payments we charge low monthly rental fees starting from $25 (ex GST) per terminal for Mobile EFTPOS machines, but without any of the long-term lock-in contracts you find with most other providers. Take a look at our EFTPOS machine cost comparisons.
Setup Fees: Often there are setup fees when establishing EFTPOS terminals and merchant accounts.
More Payments, however, does not charge anything for configuration, setup (including for delivery, which is free throughout Australia) or termination of rental agreements.
Transaction Fees: In Australia merchant transactions can vary greatly, and at the moment we are seeing variable rates between 0.8% and 2.75% of the transaction value, per transaction.
More Payments offers one of Australia’s lowest EFTPOS transaction rates of between 0.8%-1.5%, depending on your volume of sales and industry type, which is inclusive of all transaction costs. This means everything is upfront, and there are no hidden costs. Better still More Payments offers you the opportunity to cover all transaction fees by passing on a surcharge to your customers. This allows you to effectively have a Fee FREE EFTPOS facility.
Other Merchant Service Fees: These usually consist of things such as credit card authorisations, equipment, stationery, facility maintenance, debit card, chargeback and interchange fees, along with base rates and exit fees.
More Payments has no ‘monthly minimum turnover’ charges, no refund fees, or termination fees.
Ultimately you want to consider your business size, monthly transactions and budgets when deciding how much you want to spend on the cost of EFTPOS machines in Australia.
For more information about More Payment’s Merchant Services and market-leading business payment solutions, contact our friendly customer service team and talk to a real person today.