Key facts
- •Square charges 1.6% for accounts opened from 30 May 2024 - hardware from $65
- •Zeller charges 1.4% - terminal from $99
- •Zeller was founded by former Square and NAB executives
- •Both settle funds next business day
- •From October 2026, neither can pass transaction fees to customers
Fee and feature comparison
| Provider | Transaction fee | Monthly fee | Hardware | Australian built |
|---|---|---|---|---|
| QwikPay | $0.00Zero fees | Free 12 months, then from $19.99/mo | None - QR code only | Instant, on-demand |
| Square | 1.6% | None | From $65 | No (US) |
| Zeller | 1.4% | None | From $99 | Yes |
Rates are indicative. Verify current rates directly with each provider.
When Zeller is cheaper than Square
Zeller's 1.4% vs Square's 1.6% saves $50/month on $25,000 in card volume. The Zeller terminal starts at $99 vs Square's hardware from $65 - a $34 difference recovered in under one month at $25,000 volume. For any merchant processing over $25,000/month, Zeller's lower rate is more cost-effective over 12 months.
When Square is cheaper than Zeller
For merchants processing under approximately $25,000/month, Square's lower hardware entry cost from $65 and comparable total cost of ownership make it more practical. Square is also better established for pop-up operators needing a simple, low-commitment setup.
Australian-built vs US-built
Zeller was founded in Melbourne in 2020 by former Square and NAB executives. It is built specifically for the Australian market with least-cost routing at its core. Square is a US company with Australian operations. For most merchants this distinction is invisible day-to-day.
October 2026 surcharge ban
From 1 October 2026, neither Square nor Zeller merchants can add a surcharge to Visa, Mastercard, or EFTPOS transactions. Both providers' transaction fees continue and come out of your margin. Contact your provider before October to understand your post-ban effective rate.
The only option with $0 transaction fees and instant settlement
Tyro, Square, and Zeller all charge a percentage of every card transaction and settle funds the next business day. QwikPay charges merchants nothing per transaction. Payments are processed through the QwikPay wallet via QR code, not through a card network. No interchange. No scheme fee. No merchant service fee. Settlement is instant and on-demand - withdraw to your bank account whenever you choose, not when your provider decides. QwikPay sits alongside your existing terminal as an additional payment option. Your current setup stays exactly where it is.
Apply free - 12 months free if you sign up before 30 August 2026Frequently asked questions
Is Square or Zeller cheaper for a small business?
Zeller's 1.4% rate is lower than Square's 1.6%, but Zeller's terminal starts at $99 vs Square's hardware from $65. For merchants processing over $25,000/month, Zeller's lower rate recovers the hardware cost difference quickly.
What is the main difference between Square and Zeller?
Square is a US-based provider with a comprehensive POS software ecosystem and a flat 1.6% rate. Zeller is Australian-built, charges 1.4%, and includes a business bank account and debit card.
Does Zeller have a monthly fee?
No. Zeller charges no monthly fee. The only upfront cost is the terminal purchase - from $99 for the original terminal or $199 for Terminal 2.
Which is better for a market stall or pop-up?
Both work well for mobile and pop-up use. Square's Reader at $65 has a lower entry cost. Zeller's terminal from $99 is more robust for regular market use.
Can I use QwikPay alongside Square or Zeller?
Yes. QwikPay is an additional payment option that sits alongside your existing terminal. Your current hardware stays exactly where it is.
What happens to Square and Zeller surcharges after October 2026?
From 1 October 2026, merchants using Square or Zeller can no longer add a surcharge to Visa, Mastercard, or EFTPOS transactions. The transaction fee continues and comes out of your margin.