Master comparison - all providers at a glance
| Provider | Transaction fee | Monthly fee | Hardware | Settlement | Surcharge post Oct 2026 | Rewards |
|---|---|---|---|---|---|---|
| QwikPay | $0.00Zero fees | Subscription | None - QR code or in-App | On-Demand Settlement | Not applicable | Yes - Qwik Points |
| Tyro | 1.3% | $19/mo (Pro Lite); $29/mo (Pro Touch, Pro Key); $0 for BYO smartphone app | Terminal rental or BYO smartphone app | Depends on account and settlement conditions | Banned | No |
| Square | 1.6% (accounts opened on or after 30 May 2024); 2.2% online and manually entered | $0 (Free plan) | Reader $65; Tap to Pay on a compatible smartphone, no reader needed | Free next-day transfers including weekends; instant transfers 1.95%, subject to eligibility | Banned | No |
| Zeller | 1.4% (1.2% with Zeller POS and Zeller Terminal; excludes third-party POS integrations) | $0 terminal rental | Terminal 1x and Terminal 2: $99 promotional price, subject to availability | Following business day to an external bank account | Banned | No |
| Stripe | Domestic from 1 Oct 2026: 1.65% + $0.10 in person; 1.65% + $0.30 online. International: 3.5% + the same fixed fees until Stripe's April 2027 change | None for payment processing; optional services can cost extra | WisePad 3 $89; S710 and S700 $449; T600 $469 (excluding GST) | Depends on payout schedule and account conditions | Banned | No |
| ANZ Worldline Edge | 0.95% domestic Visa, Mastercard and eftpos; 2.80% international Visa and Mastercard | $25/mo terminal rental (standalone or integrated) | Terminal rental | Same day to an ANZ account (before 9pm AEST); next business day otherwise | Banned | No |
| CommBank | 0.99% for eligible customers and eligible in-store products | $29.50/mo rental for Smart and Smart Integrated | Smart Mini $59 outright; Smart and Smart Integrated rented | Same day to a linked CommBank account (before 9:30pm Sydney/Melbourne); varies for other accounts | Banned | No |
| NAB EFTPOS | 1.05% Simple Pricing; negotiated pricing also available | $25/mo terminal rental | Terminal rental | Same day to a NAB Business Everyday Account (before 9:30pm AEST) | Banned | No |
| Westpac EFTPOS machine | 0.79% (eftpos, Mastercard, Visa and UnionPay) | $24.75/mo per device (EFTPOS Now, Now with Presto, Flex); $27.50/mo (EFTPOS Connect) | Terminal rental | One settlement a day before 9:30pm Sydney time to an eligible Westpac account | Banned | No |
| Westpac EFTPOS Air | 1.25% | $0 device fee | Compatible smartphone | After an 8:50pm Sydney cut-off, seven days a week, to an eligible Westpac business account | Banned | No |
Rates are each provider's published pricing: Tyro, Square, Zeller, ANZ Worldline, CommBank, NAB, Westpac and Stripe. Eligibility, card mix, hardware and promotions all affect what a business pays, and customised merchant agreements can differ, so verify current rates directly with each provider before making a decision.
We checked the Square, Zeller, ANZ Worldline, CommBank, NAB, Westpac and Stripe pages on 1 October 2026. Tyro's pages could not be re-checked automatically, so confirm Tyro's current pricing with Tyro.
Eligibility and conditions
- Square: the 1.6% rate applies to accounts opened on or after 30 May 2024. Eligible accounts opened before that date may pay 1.9% on Reader, Stand or Tap to Pay. Older accounts using Terminal or Register have different applicable conditions. Online and manually entered payments are 2.2%.
- Zeller: the $99 Terminal 1x and Terminal 2 prices are promotional, with $199 shown as the reference price, and are subject to availability. Zeller does not charge monthly terminal rental.
- Stripe: Stripe announced lower domestic card pricing from 1 October 2026, down from 1.70%. Online and in-person payments have different fixed fees ($0.30 online, $0.10 in person). Optional Stripe services can cost extra.
- CommBank:0.99% applies to eligible customers and eligible in-store products (Smart Mini, Smart and Smart Integrated), subject to terms. Smart and Smart Integrated rent for $29.50/month, and Smart Mini is $59 outright. CommBank's Smart Mini page adds that its 0.99% rate applies to merchants making no more than $1,000,000 a year in card transactions, with up to 5 readers settling to a CommBank Business Transaction Account. American Express and JCB acceptance needs separate approval.
- NAB: Simple Pricing of 1.05% covers Visa, Mastercard, eftpos and UnionPay, subject to terms.
- Westpac: the 0.79% machine rate excludes American Express and JCB, and EFTPOS Air does not accept UnionPay. EFTPOS Air uses a compatible smartphone, and American Express and JCB acceptance has separate approval and conditions.
What changes from October 2026
From 1 October 2026, eftpos, Mastercard and Visa will introduce no-surcharge rules. Merchants will generally no longer be able to recover covered card-payment costs through a separate card surcharge. Many businesses already absorb some or all of their card-processing costs or reflect them in overall prices, and actual fees may change after the new interchange caps commence. Payment options that operate outside card networks do not carry card-network fees.
Full card-surcharge guide →Detailed comparison guides
Accept payments with $0 transaction fees through QwikPay
QwikPay charges $0 per transaction on QwikPay payments, which are processed through the QwikPay wallet via QR code rather than a card network. It sits alongside your existing card acceptance as an additional payment option, so your current terminal can stay where it is. On-Demand Settlement is available. QwikPay uses a business subscription model, so subscription charges may apply. Check current pricing and terms during onboarding.
Start accepting zero-fee paymentsFrequently asked questions
Which EFTPOS provider has the lowest fees in Australia?
It depends on the product, payment channel, card type and merchant agreement. QwikPay charges $0 per transaction on QwikPay payments. Among the card-based products compared on this page, published in-person rates range from 0.79% for the Westpac EFTPOS machine to 1.65% plus $0.10 for Stripe, and several products add monthly terminal rental. Some rates apply only to eligible customers or products, and customised agreements can differ.
What is a merchant service fee?
A merchant service fee is the cost a business pays to accept electronic card payments. It typically includes an interchange fee paid to the card-issuing bank, a scheme fee paid to Visa or Mastercard, and the payment provider's own margin. The total depends on the provider, product, payment channel, card type and the merchant's agreement.
Will merchant fees disappear after the October 2026 card-surcharge changes?
No. From 1 October 2026, eftpos, Mastercard and Visa will introduce no-surcharge rules. Merchants will generally no longer be able to pass covered card fees to customers as a surcharge. The underlying merchant service fees continue, so they come out of the merchant's margin instead. QwikPay charges no transaction fee on QwikPay payments because it processes payments by QR code through its wallet system rather than a card network.
Do I need to replace my EFTPOS terminal to use QwikPay?
No. QwikPay is an additional payment option that sits alongside your existing terminal. Your Tyro, Square, Zeller, or bank EFTPOS machine stays exactly where it is. QwikPay adds a QR code at the counter for customers who want to pay with zero transaction fees and earn Qwik Points rewards.
How does QwikPay charge $0 per transaction?
QwikPay processes payments through its wallet system via QR code rather than through a card network. Because there is no Visa, Mastercard, or EFTPOS network involved, there is no interchange fee and no scheme fee. QwikPay uses a business subscription model, so subscription charges may apply after an applicable free period. Check current pricing and terms during onboarding. Learn how PayTo and PayID power this wallet at /resources/payto-australia.