Key facts
- •Square charges 1.6% in person for accounts opened on or after 30 May 2024, and 2.2% for online and manually entered payments. Eligible older accounts may pay 1.9% on Reader, Stand or Tap to Pay
- •Zeller charges 1.4% in person, 1.2% with Zeller POS and Zeller Terminal (excluding third-party POS integrations), and 1.7% for over-the-phone payments accepted with Zeller Terminal
- •Square's Free plan has no monthly subscription and Zeller has no monthly terminal rental. Both still charge processing fees, and optional products can cost extra
- •Hardware: Square Reader $65 or Tap to Pay on a compatible smartphone; Zeller Terminal 1x and Terminal 2 at a promotional $99 each, subject to availability
- •Transfers differ by provider and account: Square advertises free next-day transfers and optional instant transfers, and Zeller shows following-business-day settlement to an external bank account
- •From 1 October 2026, Visa, Mastercard and eftpos no-surcharge network rules apply following changes by the RBA, and American Express has indicated it will remove surcharging from the same date
Fee and feature comparison
| Provider | Transaction fee | Monthly fee | Hardware | Settlement and transfers |
|---|---|---|---|---|
| QwikPay | $0.00Zero fees | Subscription | None - QR code or in-App | On-Demand Settlement |
| Square | 1.6% in person (accounts opened on or after 30 May 2024) | $0 on the Free plan; optional paid software is separate | Reader $65, or compatible smartphone with Tap to Pay | Free next-day transfers including weekends; instant transfers 1.95%, subject to eligibility |
| Zeller | 1.4% in person (1.2% with Zeller POS and Zeller Terminal; excludes third-party POS integrations) | $0 monthly terminal rental | Terminal 1x and Terminal 2: $99 promotional price, subject to availability | Following business day to an external bank account; confirm Zeller Transaction Account timing with Zeller |
- Standard rates, custom pricing and promotions are different things.The table shows published standard rates. Custom or promotional pricing can differ, and "no monthly fee" refers to the Free plan or terminal rental, not every product each company offers.
- Square older accounts: according to Square's help article on fees, eligible accounts opened before 30 May 2024 may pay 1.9% on Reader, Stand or Tap to Pay. Older accounts using Terminal or Register, or on a paid software plan, have different applicable conditions. Optional paid Square software, such as the Plus plan, is separate from the Free plan.
- Zeller 1.4% and 1.2%: Zeller's pricing page shows 1.4% for in-person payments with Zeller Terminal, and 1.2% with Zeller POS and Zeller Terminal; excludes third-party POS integrations. Zeller states its published rates include GST.
- Zeller hardware: Zeller's shop page shows the $99 price as a promotional price (labelled EOFY 2026, limited time) against a $199 reference price, and it is subject to availability. It may change.
- Transfers:funds becoming available, the payout schedule and arrival in your bank account can be different steps. Square's instant transfers cost 1.95%, with a $5 minimum and a $5,000 daily limit, and require an eligible linked bank account. Confirm cutoffs and eligibility with each provider.
- Devices:Square's Tap to Pay uses a compatible smartphone, so a new reader may not be needed. Confirm any smartphone option for Zeller with Zeller.
Processing fees at the same sales volume
This uses standard in-person rates: Square at 1.6% (accounts opened on or after 30 May 2024) and Zeller at 1.4%. The difference is 0.2 percentage points. At $25,000/month in card sales, processing fees are $400 with Square and $350 with Zeller, a difference of $50/month.
Zeller's 1.2% rate with Zeller POS and Zeller Terminal, which excludes third-party POS integrations, is a separate case. It has its own eligibility and any associated costs, so it is not included in this example.
How hardware and software affect total cost
Using one Square Reader at $65 and one Zeller terminal at the promotional $99 price, the hardware difference is $34. At a 0.2 percentage point lower rate, Zeller recovers $34 after about $17,000 in cumulative card payments ($34 / 0.002). Over 12 months that is approximately $1,417/month, and at $25,000/month it takes approximately 0.68 months.
This is not an equivalent-hardware comparison, because the two products differ in functionality. It also excludes:
- Smartphone or iPad costs.
- Optional software.
- Custom or promotional processing rates.
- Different payment channels and card mix.
- Other applicable charges.
- Older Square account rates.
If Zeller's hardware price changes, recalculate using the current price. Neither provider is cheaper for every business, so compare the full cost for your own volume, hardware and software needs.
Choosing between Square and Zeller
Useful differences to check include which POS integrations you need, whether you want a smartphone option or a standalone terminal, which devices you must already own, and whether you want optional software or account features. Square offers a Free plan with optional paid software and Tap to Pay on a compatible smartphone. Zeller offers Zeller Terminal with no monthly terminal rental, and other products such as a Zeller Transaction Account. Check each company's current product pages for the features you need.
October 2026 card-surcharge changes
From 1 October 2026, Visa, Mastercard and eftpos no-surcharge network rules apply following changes by the RBA, and American Express has indicated it will remove surcharging from the same date. These rules operate through card networks, payment providers and merchant agreements and are set by the card networks. Merchant service fees continue. Covered card costs cannot be recovered through a separate prohibited surcharge, but merchants can still set their own overall prices, and not every payment method is covered. Check your agreement with your provider.
Accept payments with $0 transaction fees through QwikPay
QwikPay is an additional payment option that sits alongside your existing card acceptance, so your current terminal can stay where it is. QwikPay charges $0 per transaction on QwikPay payments, which are processed through the QwikPay wallet via QR code rather than a card network. 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
Is Square or Zeller cheaper for a small business?
It depends on your volume, hardware and software needs. At the published standard in-person rates, Zeller's 1.4% is 0.2 percentage points lower than Square's 1.6% for accounts opened on or after 30 May 2024. At $25,000/month in card sales, that is $350 against $400 in processing fees, a $50 difference. Hardware, optional software, custom or promotional pricing, payment channel, card mix and older Square account rates can all change the total, so compare your own numbers.
What is the main difference between Square and Zeller?
Square offers a Free plan with optional paid software, Square Reader hardware and Tap to Pay on a compatible smartphone. Zeller offers Zeller Terminal hardware with no monthly terminal rental, plus other Zeller products such as a Zeller Transaction Account. Check which POS integrations, devices and account features you need before choosing.
Does Zeller have a monthly fee?
Zeller's pricing page shows no monthly terminal rental. That does not cover every Zeller product, as some optional products carry their own fees. The upfront cost is the terminal purchase. Zeller's pricing page currently shows Terminal 1x and Terminal 2 at a promotional $99 each, with $199 shown as the reference price, subject to availability.
Does Square have a monthly fee?
Square's Free plan has no monthly subscription, but Square still charges processing fees. Optional paid software plans are separate and carry their own monthly fees.
How much does hardware change the comparison?
Using one Square Reader at $65 and one Zeller terminal at the promotional $99 price, the hardware difference is $34. At the published standard rates, Zeller's 0.2 percentage point lower rate recovers $34 after about $17,000 in cumulative card payments ($34 / 0.002), which is about 0.68 months at $25,000/month. These products are not equivalent hardware, and the calculation excludes smartphone or iPad costs, optional software, custom or promotional processing rates and other charges. Recalculate if hardware prices change.
Can I use QwikPay alongside Square or Zeller?
Yes. QwikPay is an additional payment option that sits alongside your existing card acceptance. Your current hardware can stay where it is. QwikPay charges $0 per transaction on QwikPay payments, but subscription charges may apply, so check current pricing and terms during onboarding.
What happens to Square and Zeller surcharges after October 2026?
From 1 October 2026, Visa, Mastercard and eftpos no-surcharge network rules apply following changes by the RBA, and American Express has indicated it will remove surcharging from the same date. These rules operate through card networks, payment providers and merchant agreements and are set by the card networks. Covered card costs cannot be recovered through a separate prohibited surcharge, but merchants can still set their own overall prices. Check your agreement with your provider.