What you need to know when Comparing EFTPOS Costs

Looking for a cheaper EFTPOS deal for your business?

Banking and payment solutions have changed dramatically over the previous 5 years so there are now many options to consider when it comes to your business EFTPOS provider. Did you know, over 45% of all businesses opt to go with their primary bank for their merchant services. A lot of people do not realise that it pays to shop around for a better and potentially cheaper EFTPOS deal.

New API’s (Authorised Deposit-taking Institutions) have entered the market to take on the big banks and they have sought to differentiate through offering better, industry specific leading payment features. One such company taking on the big guns is More Payments. Their goal is simple, to empower Australian businesses with innovative products and services, to help improve and grow their business.

More Payments focus heavily on specific industries including Hospitality, Health and Retail. They can provide smart and reliable EFTPOS solutions with direct integration with your POS or PMS.

Here are some of their top features and things to look out for when comparing different EFTPOS deals on the market today –

  • Mobility – mobile terminal integration that works for tablets, for greater mobility in venue, and in store.
  • Surcharging – terminals can automatically apply a surcharge based on card type. This ultimately helps a business reduce and cover the cost of accepting card transactions.
  • Tap & Save – also known as Least Cost Routing, this reduces merchant service fees by processing eligible contactless debit transactions through the most cost-efficient network.
  • Reliability & Speed – 99.9% uptime means less down time which gives your business more revenue. Sub 1.6 second transaction speeds reduces your customers wait times.
  • Integrated Pay@Table – Pay, split, tip and surcharge at the table, automatically reconciled and integrated with POS.

If you need any further incentives for shopping around for a better deal on your EFTPOS, a lot of businesses now offer solutions with no sign-up fees or lock in contracts making trailing the product very simple.

To summarise, it is certainly worth reviewing different companies that provide payments solutions and merchant facilities for small and medium business. Even by doing a little amount of research you will find that you can benefit from a robust payment platform with great features, whilst not having to pay a premium rate. There are companies out there providing some incredibly cheap EFTPOS deals that can help you save time and money.