Australian merchant fee comparison (2026)
The table below covers the main payment providers available to Australian merchants. All rates are indicative — verify current rates directly with each provider before switching. See also the October 2026 card-surcharge changes for context on why these fees matter from October 2026 onward.
| Provider | Rate | Notes |
|---|---|---|
| QwikPay | 0% | Bank-to-bank via NPP. No card network. |
| EFTPOS (bank) | 0.3% – 0.8% | Will reduce from Oct 2026 with new RBA caps |
| Square | 1.6% – 1.9% (in-person) | 1.6% for accounts opened from 30 May 2024 |
| 2.2% (card-not-present) | ||
| Visa / Mastercard | 1.0% – 2.0% | Via merchant's bank; rates vary by card type |
| ANZ merchant fees | 1.1% – 1.8% | Varies by card type and volume |
| CBA merchant fees | 1.2% – 2.0% | Varies by card type and plan |
| American Express | 1.8% – 2.5% | American Express has independently decided to remove surcharging from 1 October 2026 |
| Apple Pay | Passed from bank | No additional fee — underlying bank rate applies |
| Afterpay | 4% – 6% + $0.30 | Higher for new/low-volume merchants |
Rates are indicative and vary by provider, card type, transaction volume, and contract terms. Verify current rates directly with each provider.
What does 1.5% actually cost your business?
At a 1.5% average merchant fee rate, here is what you pay per month depending on your card payment volume — compared to $0 with QwikPay.
| Monthly card volume | Fees at 1.5% | Annual cost | With QwikPay |
|---|---|---|---|
| $5,000/month | $75/month | $900/year | $0 |
| $20,000/month | $300/month | $3,600/year | $0 |
| $50,000/month | $750/month | $9,000/year | $0 |
| $100,000/month | $1,500/month | $18,000/year | $0 |
What are ANZ merchant fees?
ANZ charges merchants between 1.1% and 1.8% per card transaction, depending on card type (credit vs debit), transaction volume, and whether the card is domestic or international. ANZ also charges a monthly terminal rental fee for EFTPOS hardware, typically $20 to $45/month.
From October 2026, ANZ merchants can no longer pass those fees to customers as a surcharge. See the October 2026 card-surcharge changes explained for the full picture.
ANZ merchant fees detailed breakdown →What are CBA merchant fees?
Commonwealth Bank charges merchants between 1.2% and 2.0% per transaction. Like ANZ, rates depend on card scheme, transaction volume, and business type. CBA's Smart terminal comes with a monthly rental fee on top of per-transaction costs.
CBA merchant fees detailed breakdown →What are Afterpay merchant fees?
Afterpay charges merchants between 4% and 6% per transaction plus a fixed $0.30 per transaction. Rates are higher for new or low-volume merchants. Afterpay covers the risk of customer non-payment, which explains the premium, but it is a substantial cost for businesses operating on thin margins.
What are NAB merchant fees?
National Australia Bank charges negotiated rates between 0.5% and 1.8% per transaction, with additional monthly service fees and terminal rental. NAB's rates vary significantly by card type, transaction volume, and business category.
NAB merchant fees detailed breakdown →What are Westpac merchant fees?
Westpac charges merchants negotiated rates from 0.5% to 1.8% per transaction, with monthly service fees and terminal rental. Like other major banks, Westpac rates are not published and must be negotiated individually based on your business profile.
Westpac merchant fees detailed breakdown →What are Stripe fees in Australia?
Stripe charges 1.7% plus $0.30 per transaction for in-person card payments in Australia. While Stripe's fees are transparent and published, they are among the highest for Australian merchants. Stripe is primarily designed for online payments rather than in-store transactions.
Stripe merchant fees detailed breakdown →Why QwikPay charges $0
QwikPay does not use card networks. When a customer pays via QwikPay, the money moves from their QwikPay wallet to yours through PayID and PayTo infrastructure — there is no card network, no interchange fee, and no merchant fee.
QwikPay sits alongside your existing terminal. Customers who want to pay via QR code use QwikPay. Everyone else pays as normal.