Key facts
- •Westpac's published rate for EFTPOS machines is 1.2% per transaction, with a $24.75/month device fee
- •Westpac's published rate for EFTPOS Air (app-based) is 1.4% per transaction, with no monthly device fee
- •These are Westpac's flat published rates, not negotiated ranges
- •From 1 October 2026, surcharges on Visa, Mastercard, eftpos, and Amex are banned
- •Westpac reports merchant fee data quarterly, with first reporting due 30 October 2026
What does Westpac charge per transaction?
Westpac publishes two flat-rate tiers depending on which product you use. There is no negotiation on these standard rates.
| Product | Transaction fee | Monthly device fee |
|---|---|---|
| QwikPay | $0.00Zero fees | Free 12 months, then from $19.99/mo |
| Westpac EFTPOS machine | 1.2% | $24.75/device/month |
| Westpac EFTPOS Air (app) | 1.4% | None |
Rates are Westpac's published standard rates. Verify current rates directly with Westpac.
EFTPOS machine vs EFTPOS Air: which is cheaper?
The EFTPOS machine at 1.2% plus $24.75/month device fee is cheaper than EFTPOS Air at 1.4% with no monthly fee once your card volume exceeds approximately $12,375/month. Below that volume, EFTPOS Air's higher rate but zero device fee costs less overall.
Example: At $10,000/month in card payments:
- EFTPOS machine: $120 in transaction fees + $24.75 device fee = $144.75
- EFTPOS Air: $140 in transaction fees + $0 = $140.00
At $20,000/month:
- EFTPOS machine: $240 + $24.75 = $264.75
- EFTPOS Air: $280 + $0 = $280.00
October 2026 card-surcharge changes impact
From 1 October 2026, Westpac merchants cannot add a surcharge to Visa, Mastercard, eftpos, or Amex transactions. Westpac's transaction fees continue at the same published rates. Merchants who previously surcharged to recover the 1.2% or 1.4% fee now absorb that cost.
Westpac is also required to report merchant service fee data to the RBA quarterly, with the first report due 30 October 2026. This transparency obligation applies to all major card payment providers.
The only option with $0 transaction fees and instant settlement
Westpac, like all card processors, charges a percentage of every transaction plus a device fee. QwikPay charges merchants nothing per transaction. Payments are processed through the QwikPay wallet via QR code using PayTo and PayID infrastructure. No interchange. No scheme fee. No merchant service fee. No device rental. Settlement is instant and on-demand, withdraw to your bank account whenever you choose. QwikPay sits alongside your existing terminal as an additional payment option. Your current setup stays exactly where it is.
Start accepting zero-fee paymentsHow Westpac compares to other providers
| Provider | Transaction fee | Monthly | Settlement |
|---|---|---|---|
| QwikPay | $0.00Zero fees | Free 12 months, then from $19.99/mo | None - QR code only |
| Westpac EFTPOS machine | 1.2% | $24.75/device | Next business day |
| Westpac EFTPOS Air | 1.4% | None | Next business day |
| Tyro | 1.3% | From $19/mo (Pro Lite) | Next business day |
| Square | 1.6% | None | Next business day |
| Stripe (in-person) | 1.7% + $0.10 | None | 2 business days |
Frequently asked questions
What is Westpac's merchant service fee?
Westpac publishes two flat rates: 1.2% per transaction for EFTPOS machine users (plus $24.75/month device fee), and 1.4% per transaction for EFTPOS Air app users (no monthly fee). These are published standard rates, not negotiated figures.
Does Westpac negotiate merchant rates?
Westpac's standard published rates are 1.2% (EFTPOS machine) and 1.4% (EFTPOS Air). Volume-based arrangements may be available for larger businesses - contact Westpac directly to discuss your situation.
Can Westpac merchants still surcharge from October 2026?
No. From 1 October 2026, surcharges on Visa, Mastercard, eftpos, and Amex are banned under RBA rules. Westpac merchants cannot pass the transaction fee to customers via a surcharge. The fee comes out of the merchant's margin.
Does Westpac charge a monthly fee?
Yes, for EFTPOS machine users, Westpac charges $24.75 per device per month. EFTPOS Air (app-based) has no monthly device fee but charges a higher 1.4% transaction rate.
When does Westpac have to report merchant fees?
Westpac is required to report merchant service fee data to the RBA quarterly from 1 October 2026. The first report is due 30 October 2026.
Is Westpac cheaper than Tyro?
Westpac's EFTPOS machine rate of 1.2% is lower than Tyro's 1.3% on a per-transaction basis. Both carry monthly fees. The total cost depends on transaction volume, card mix, and whether international or commercial card rates differ from the published headline rate.