Transaction fees are negotiated based on your monthly turnover, revenue and business sector. The total rate includes the card scheme’s (e.g. Visa, Mastercard, eftpos) variable rates and Tyro’s/More Payments’ negotiated merchant service fee added on top. It doesn’t matter how little you earn – you can still generally get good rates, but your sales volume will factor into the total transaction fees decided by More Payments.
The rates for transactions are not as simple as Square’s fixed percentage, but they are lower. More Payments also accepts more cards – good for merchants who get lots of tourists with international cards. Apart from Visa, Mastercard, eftpos, UnionPay and Diners Club, More Payments can settle Amex and JCB transactions in your bank account at no additional cost.