Whether you’re starting a new business or in the process of updating to reduce overheads in your business, an EFTPOS machine is now considered business-critical equipment. The process of getting an EFTPOS machine, choosing the right type of machine, and understanding the process can be tricky to understand.
At Smartpay, we’ve made it easy for you. This step-by-step guide will help both new and experienced business owners understand how to get an EFTPOS machine with the following steps:
- Submit an enquiry and talk to an EFTPOS specialist
- Understand EFTPOS terminals and get a suitable plan
- Consider the costs of an EFTPOS machine
- Understand how EFTPOS transactions work
- EFTPOS machine set-up requirements
- Apply for an EFTPOS machine
Step 1: Submit an Enquiry and Talk to an EFTPOS Specialist
The first step is to gain a better understanding of what you are looking for. If you want to keep things easy, the best way to begin your EFTPOS journey is to submit an enquiry form. This form will go to one of our EFTPOS specialists, who will set up a call and answer all of your questions about machine necessity, costs and integration. Alternatively, give us a call on 1800 982 834 during business hours to get connected directly to a Sydney-based Payment Specialist.
Before talking to an EFTPOS specialist, it’s a good idea to note down all the questions you have about getting an EFTPOS machine. These questions could be related to portability, compatibility with current software or even the customer experience you desire within your business.
Your EFTPOS specialist can then help you make your decision based on your own questions, and an in-depth description of what you want from your EFTPOS machine. This description can be based on questions like:
- Do you conduct business on the road or in store?
- Which is more important – portability or visibility?
- Do you currently have POS software?
- Do you have reliable internet or data access during business hours?
- Does EFTPOS suit how your customers want to pay?
Step 2: Understand EFTPOS Terminals and Hardware Options
If you have spoken to an EFTPOS specialist and want to do some further research, begin looking at the different options and features you would like for your EFTPOS machine.
EFTPOS machines often have many different features, such as surcharge options, tipping and cash out, integration with POS systems and even physical features like a portable terminal.
Portable EFTPOS Machine: Choosing the Right Mobile Card Reader
Working out what features are best for you and your business comes down to what works best for your customer when completing a transaction, as well as what works within your current business systems – each is important when choosing the right EFTPOS machine.
Choosing the right mobile card reader comes down to what kind of features and options work best for you. Looking back to the section on questions you might have for the EFTPOS specialist, you should take into account how your average business day looks – the access to internet services, your customer experience, and so on.
Of course, the first feature to consider is portability. In this day and age, there has never been more of a need for portability when processing a transaction. For a small business, mobile business or even a larger operation with lots of space and not enough reach for their customers, a Portable EFTPOS machine is the way to go!
Smartpay EFTPOS Terminals
Smartpay EFTPOS Terminals come with a wide variety of features that suit any kind of business or transaction process. For small businesses or large franchises, the Smartpay terminal has the right options for any number of customers and purchasing preferences.
Smartpay accepts usual card payments, including Visa, Mastercard and EFTPOS, but it also offers contactless payments made through mobile payment formats.
Other Smartpay EFTPOS Terminal features include:
- Cash out
- Automated surcharging
- Chinese mobile payments: as well as payment methods of Google Pay, Apple Pay and Samsung Pay, Smartpay now has the option for Chinese-preferred mobile payments, including Alipay and WeChat Pay.
- Mail/Phone Order (MOTO)
Better yet, a credit card reader or credit card machine may be the best option for your business. With Smartpay, you can save on merchant service fees with Smartpay Zero Cost™ EFTPOS.
Compatibility With Google Pay and Apple Pay
Compatibility with different payment methods – especially mobile payment methods – is very important. While the ability to read credit or debit cards, or even have tap-and-go payment is helpful, mobile device payment has increased dramatically. Not only does it allow for contactless payments, but Google Pay, Apple Pay and Samsung Pay are great for customers who don’t usually carry physical wallets or cards around.
Improving customer accessibility and user experience should be a top priority when choosing the right EFTPOS machine, so taking mobile device compatibility into consideration is of the utmost importance.
Smartpay payment terminals have all of these mobile payment methods as an option on their terminals, as well as add-on Chinese mobile payment options like Alipay and WeChat Pay.
EFTPOS Integration with Your Business and POS System
On top of all possible EFTPOS machine features, Smartpay terminals have the option to be integrated with certain Point of Sale (POS) systems. An integrated EFTPOS terminal allows your purchase amount to be sent directly from the POS to the EFTPOS machine. This means that you won’t need to key in any credit card information or the purchase amount at the checkout, providing you (and the customer) with a much smoother experience.
Integrated EFTPOS Machines are a great option for current businesses that already have a working POS system and wish to prioritise customer experience as well as ease of service for employees.
Step 3: Consider the Costs of an EFTPOS Machine
The next step in the EFTPOS Machine process is to take a look at the different costs that may apply. This includes transaction fees, surcharges, ongoing terminal rentaland any upfront or cancellation charges.
When first speaking to your EFTPOS Specialist with Smartpay, feel free to ask about pricing and fees for Smartpay terminals.
What Does an EFTPOS Machine Cost Up Front?
An EFTPOS machine’s upfront costs can vary depending on the service provider that you choose. With Smartpay, there are no upfront costs other than a set-up fee of $90. This set-up fee is initially waived and only charged if you choose to leave Smartpay within the first twelve months of use.
There is also no extra charge for terminal rental with Smartpay, provided that your terminal processes $10,000 of card transactions in that month.. If you don’t meet this amount in any given month, you’ll simply pay $34.95 (plus GST) for that month per terminal.
Merchant Services Fees
Merchant service fees are another consideration when choosing the right EFTPOS machine. While they are a very normal part of the transaction process, a low-cost or no-cost EFTPOS option is available with Smartpay.
Zero Cost™ EFTPOS by Smartpay is the most popular option for bars, cafes, restaurants, automotive, hair and beauty and many other industries. By choosing this solution, merchants can eliminate their monthly merchant services bill and terminal rental.
We also provide countertop signage with each terminal to ensure that you clearly communicate the surcharge amounts to your customers before they pay. The terminal also indicates a surcharge in the idle screen of the terminal, so you can ensure transparency when customers pay for your goods or services.
Step 4: Understand How EFTPOS Transactions Work
Understanding how EFTPOS transactions actually work is key to ensuring your customer experience is prioritised as well as helping your business thrive.
There are many different payment types that an EFTPOS machine might be compatible with, including:
Credit card payments, debit card payments or EFTPOS card payments: Smartpay terminals accept card payments from Visa, MasterCard and EFTPOS, and have the option to add on AMEX as a payment type. A card may be inserted, swiped or ‘tapped’ (tap & go) for the transaction to go through.
Tap & go or contactless payment: this kind of payment method allows for a card or mobile device to be hovered or held over an EFTPOS machine for a transaction to go through instead of swiping or inserting a card.
- Mobile device payments: This form of payment utilises payment providers Google Pay, Apple Pay and Samsung Pay to process transactions through a mobile device.
- Digital wallet payments: This is a form of contactless or tap and go payment in which your bank account information and card information are stored in a digital wallet on a mobile device for purchasing purposes.
Step 5: EFTPOS Machine Setup Requirements
There are a couple of set-up requirements that you must consider before putting in your application for an EFTPOS machine. For example, ensuring reliable WiFi, broadband, or even 3G mobile access is important for an EFTPOS transaction. Having internet access is a requirement for EFTPOS machines to be functional. Within Smartpay, all EFTPOS terminals arrive with a built-in SIM card powered by Telstra. Unlike some providers, this comes free of charge and is included with every terminal.
Step 6: Apply for an EFTPOS Machine
The final step is to apply for your EFTPOS machine! There are a few different ways that service providers process applications, but at Smartpay, we’ve made it easy. After filling out your enquiry form and speaking with an EFTPOS payment specialist, you will be taken through the application process, with no hidden fees or additional costs of course! Alternatively, you can give our team of Payment Specialists a call on 1800 982 834 during business hours to complete an application over the phone.