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How to Choose the Best EFTPOS Services and Terminal Provider

Every day, Australians make 6 million card transactions, which are handled by more than 760,000 EFTPOS terminals – and it can feel like you have just as many options when it comes to EFTPOS service providers.

6 million card transactions

760,000+ EFTPOS terminals

EFTPOS providers

Should you go with your bank? Or a new tech company? Or a local payments expert like Smartpay?
It feels overwhelming, but it doesn’t need to be. All you need to do is focus on what’s important to your business.

Essential EFTPOS Services and Terminal Features for Your Business

If you’re not clear on what matters to your business, you can look at what others think. When Canstar surveyed Australian retailers about merchant services, they found retailer satisfaction was driven by:

How to choose EFTPOS provider graphic

Drivers of Customer Satisfaction

Customer Service

Payments are the lifeblood of any business. That’s why merchants rate customer service importance so highly.

When looking at an EFTPOS provider, you might consider:

The last thing you want if you need help with payments is to be stuck on hold, while someone who-knows-where in the world, tries to find someone else who maybe can help.

Smartpay provides an easy plug and play set up with remote software updates to make your life hassle free. And if you do need help, we’re there for you with 24/7 support. Call us anytime and a Australian or New Zealand payment expert will answer – and quickly.

Fees and charges

Almost two out of three Australian merchants believe they could get a better deal on EFTPOS fees by shopping around – but less than one in four will switch their current provider.

Cartoon picture of 3 people

2 out of 3 merchants

believe they could get a better deal on EFTPOS fees by shopping around

Cartoon picture of 4 people

1 out of 4 merchants

will actually switch EFTPOS providers.

Why is that? Probably because there are so many different fee structures for Merchant Services out there, and this can make comparing options confusing.

All-inclusive monthly plans (like what the banks’ offer) will have you paying for transactions you don’t use, while interchange plus will have you scratching your head with all the different charges for different cards.

Smartpay’s Zero Cost™ EFTPOS is a simple, automated surcharging solution that can eliminate your merchant service fees and terminal rental. You might be surprised, but most customers don’t mind paying a surcharge when it’s done right. Alternatively, Simple Flat Rate is a straight-forward and transparent option that offers simplified competitive rates.

TIP: Worried about switching banks? Don’t be. If you go with Smartpay, you can stick with your current bank, or change it anytime; it’s up to you.

I was delighted how seamless the setup process was.


Owner, Bous for Men

mobile eftpos market women

Speed of Service and Transaction

If you’re like most businesses, you want to get paid quickly.

Check if the provider offers next business day settlement. If you trade during the weekend, check the provider settles weekend trading too, so the money is in your account on Monday. 

Also check if a provider verifies you and your business before they set you up. If they don’t verify you properly at sign up, they could withhold your funds later to check details they should have been confirmed earlier.

Future-proofing your payment solution

Unless you’re a pop-up shop, you probably want an EFTPOS provider who is thinking about the future. You want to know they will be here for you today with reliable hardware, and there for you tomorrow with smart innovations.
You might ask:

D210E eftpos machine

Future proof your business with a terminal that works the way you demand.

Smartpay doesn’t just sell EFTPOS solutions, we develop and maintain our own payment hardware and software too. That allows us to focus on the innovations that matter to Australian businesses, like Alipay and WeChat or POS integrations, and make these available sooner.

Our EFTPOS machines are simple to use but also all-in-one, offering you all of the features you need.

Have you found this article helpful?

If you’re keen to learn more about your EFTPOS options, and what might be right for your business, get in touch with the team, we’d love to help.