8 best EFTPOS machines for small businesses

For a small business, choosing the wrong EFTPOS machine can be costly, particularly when margins are tight and it’s unclear where you stand in a couple of years. You don’t want to tie yourself to a longer-than-necessary contract, and transaction fees and monthly costs (if any) should be fair for your sales volume.

Traditionally, an EFTPOS terminal was obtained from banks, but modern card reader providers now provide simplified pricing, pay-as-you-go fees and no commitment.

Let’s compare the best EFTPOS machines that currently lead among small businesses in Australia.

Zeller has already become a top contender in the Australian payment space since its launch in 2021 – and it keeps getting better. Zeller Terminal has no setup or monthly fee; you just purchase it upfront for $259 (incl. GST and a 12-month warranty), and it’s yours to use indefinitely. If not ordering it online, Officeworks sells it in store.

There’s no contract lock-in, only a pay-as-you-go transaction fee of 1.4% for chip and contactless card payments. To avoid this, you can activate the surcharge function for fee-free transactions, as long as cardholders are happy to pay this fee. Unlike several of the big banks, Zeller does not add an extra fee for surcharging.

Zeller includes a free online account where you can receive transactions the same evening at midnight. This is linked with a business Debit Mastercard (in the package), so you can spend the money from the next morning. We like that the card is activated for Apple Pay, and corporate cards for employees are available.

Alternatively, a business bank account from any Australian bank can receive transactions the next business day.

Transactions and payouts are shown in an online web portal and complimentary Zeller App. The app also allows you to accept tap-to-phone transactions directly on your smartphone in the absence of the EFTPOS terminal.

The card terminal has a built-in receipt printer and large touchscreen display showing a simple checkout where you enter a transaction amount, add a tip or surcharge, then accept the card. Customers can enter their PIN on the on-screen PIN pad.

It works independently through WiFi, but a SIM card should be purchased if mobile connectivity is needed. The battery can last a whole day, but a charging station is available if you keep it on a counter most of the time. It’s a versatile machine that integrates with leading POS systems and Xero for accounting.

One of the latest functions is Pay at Table, available free of charge for H&L point of sale users, to help restaurants turn tables faster with fewer errors. More features are continually added, such as split bills and showing a business logo on the EFTPOS machine.

Accepted cards

Last but not least, Zeller generous support is available to phone every day of the week between 9 AM and 1 AM (AET).

Overall, Zeller has evolved into a complete solution for many businesses looking for EFTPOS, a business account, spend management, invoicing and integrations with accounting and points of sale.

Square was the first company in the world to release a card reader for mobile phones. Since its arrival in Australia, the local banks and other payment providers looked old-fashioned in comparison. Why? Because Square champions affordable EFTPOS for small business without contractual lock-in, hidden fees or complicated terms. In addition, a free point of sale system makes selling goods and services fun.

You simply pay for a card reader upfront to own it forever, and pay only a fixed rate for card transactions processed. There are no monthly fees or other ongoing costs to worry about, nor do you have to return the hardware when it’s no longer needed.

Square Reader works in conjunction with a free Point of Sale (POS) app on your phone or tablet connected to 3G, 4G or WiFi. It costs $65 including GST and the transaction rate is a fixed 1.9% for all cards incl. foreign, premium and eftpos cards.

The app has a wealth of features for most face-to-face merchants, e.g. product library, tipping, taxes, employee accounts and a customer library. On top of this, you get invoice tools, a virtual terminal for over-the-phone payments and ecommerce options like an online store.

Alternatively, you can subscribe to Square’s specialised POS systems for retail, hospitality or appointments scheduling.

There is also a mobile card machine called Square Terminal, which only works through a secured WiFi connection. It doesn’t need a connected mobile device and has a touchscreen display with almost the same features as Square Reader’s POS app, hard-coded on the terminal.

Card transactions cost 1.6% on Square Terminal, but it’s more expensive at $329 incl. GST.

Accepted cards

With any of the EFTPOS readers, you can split the purchase cost into instalments paid over 3, 6 or 12 months.

Online payments and key-in payments via the free Square app or Virtual Terminal cost 2.2% per transaction.

There is no dedicated surcharging feature, but it is possible to calculate and add surcharges to each transaction individually. Payouts are free and automatically reach your bank account in 1-2 business days.

Previously More Payments, PayNuts offers a range of payment solutions for small businesses, mainly EFTPOS terminals without contractual commitment.

There are no fees for setting up, shipping, contract termination (it is cancellable any time), refunds or payouts. Other fees depend on your chosen plan which is either Pay Nothing or Low Fee EFTPOS.

If you opt for the Pay Nothing EFTPOS plan, you’ll be passing on transaction costs to the customer with a surcharge. Plus, if you make over $10k monthly in card transactions through the specific terminal, there is no cost at all on this plan. No other fees apply, not even for chargebacks or receipt rolls.

The Low Fee plan always charges $29 monthly for EFTPOS rental regardless of turnover, and a mix of extra fees apply for e.g. chargebacks. The exact costs are tailored for your business and on the low side compared with alternatives.

The Low Fee transaction costs are not as simple as a fixed percentage, but they are lower – between 0.8% and 1.5% depending on your type of business and revenue. This includes GST, the card scheme’s (e.g. Visa, eftpos) variable rates and PayNuts’ merchant service charge. Regardless of how little you earn, you generally get good rates, but the sales volume does factor into it.

PayNuts’ main EFTPOS machine is the mobile and portable Verifone T650p touchscreen terminal. It integrates with a huge choice of POS systems – over 600 software providers – but can be used independently. As a smart terminal running on Android, we find the touchscreen a pleasure to use.

Accepted cards

Australian bank Westpac offers one of the best EFTPOS machine packages on the market. They’ve caught up with the fact that small businesses prefer less bureaucracy, modern terminal solutions, simpler fees and no commitment.

Westpac caters to most checkout setups with its mobile, portable and stationary touchscreen terminal (EFTPOS Now), stationary machine (EFTPOS Connect) and self-service terminal (EFTPOS Flex).

EFTPOS Now, a Verifone VX690 model, is a beautiful terminal that works independently in all situations, anywhere with WiFi, 4G or Ethernet. The basic package does not integrate with POS software, but is instead a “mini point of sale” with useful features like tipping, preauthorisations and split bills. It does all this through its fully-touchscreen interface, which will appeal to modern businesses.

With the ‘Presto’ add-on (costs extra), EFTPOS Now integrates with most POS systems, making it ideal for countertops and shop floors.

Accepted cards

The latest terminal from Commonwealth Bank (CommBank) is a Verifone Carbon Mobile 5 model named ‘Smart’. It attracts high scores for design and functionality, ideal for businesses on the go who do not have complex inventories. A simplified point of sale (POS) system is included on its touchscreen display.

Apart from that, it is not set up to integrate with other POS systems, making it unsuitable for shops and hospitality in need of advanced functionality.

There are no setup fees or lock-ins, but the replacement fee of $500 in case of non-return or a broken terminal can be a stressor for some.

The flat, blended fee of CommBank is competitive. As with the other big five banks, though, we have received reports of hidden costs on top of the monthly rental fees.

Accepted cards

Tyro offers a portable and mobile EFTPOS machine (Tyro Pro) for rental and app-based card reader (Tyro Go) with no monthly fee.

You pay $29 monthly for Tyro Pro which works with 4G or WiFi and integrates with most POS systems, if required. The service is cancellable any time, but you have to return the terminal when leaving the contract.

Alternatively, the new Tyro Go card reader can be purchased upfront for $59, and there is then no monthly fee, just transaction fees.

Whatever the choice, there’s no contractual lock-in or setup fee, meaning you can sign up without too much risk.

If your business transacts for less than $20,000 per month and you rent a terminal, your transaction rate is fixed at 1.4% across cards. A card turnover above $20k monthly gives the merchant custom rates dependent on the business, turnover and cards accepted.

It’s absolutely possible to accept American Express, JCB and Diners Club, but you need separate agreements with associated costs, plus Tyro’s additional switching fee of 0.1% per transaction with one of those cards. Alipay can also be accepted for 1.3% per payment.

The rented Tyro Pro machine, manufactured by Ingenico, is hard-wearing and looks professional on a countertop or outside. It’s a big step up from the previous Tyro terminals that were very outdated and had technical problems in early 2021, but the new card machines are much better.

Accepted cards

Smartpay offers a Zero Cost plan only suitable for some businesses, and it requires surcharging to avoid fees. What’s more, the terminal has limited features apart from basic card transactions.

The company has attracted a solid fraction of Australian small businesses as its customer base with its surcharging plan. Keen to boost margins, sellers have opted for the “zero cost” plan to pass on the processing fees – but it is not for everyone.

For a start, the smallest businesses accepting less than $10,000 in card payments per month through the card machine won’t qualify. However, the onboarding process is typically faster than that of a traditional bank.

At the time of writing, only one terminal is offered by Smartpay, the PAX D210 model. It is a reliable, mobile card machine, even though its underlying technology is increasingly outdated. It was launched in 2016, and Smartpay New Zealand has already moved on to more contemporary touchscreen terminals. We would expect Smartpay Australia to do the same soon, but we’ve noticed no developments on the company’s website for years.

Fees are negotiated and based on your industry and sales turnover. For premium cards, they can end up on high side compared with other EFTPOS terminal providers.

The standard payment cards accepted include Visa, Mastercard and eftpos. With additional contracts and higher rates, it is possible to accept American Express, JCB, Diners Club and UnionPay. Deposits of funds happen the next business day.

Accepted cards

Available with extra contract

On paper, the offering from NAB looks fairly competitive. The biggest draw for many is the same-day settlement of funds if you are a NAB business account customer.

Their integrated EFTPOS terminal, Ingenico Move 5000, is hard to fault. We’ve used it many times and find it straightforward to use, with both a colour touchscreen and push-button PIN pad to aid accessibility. It connects with almost any POS system and can be used wired or wireless.

Not using a point of sale system? The standalone Quest QT850 NAB’s solution for that. It has a touchscreen and works on the go or in store with its basic payment software.

At second glance, the story is more mixed. For those seeking a point of sale integration, the monthly rental fee is $35, which over the course of a year exceeds the cost of purchasing comparable smart terminals from providers higher up this list. The standalone terminal costs $25 monthly.

NAB’s fixed card processing rate of 1.15% is competitive, but it only applies to Visa, Mastercard, eftpos and UnionPay cards. To accept American Express, JCB or Diners Club, rates have to be negotiated individually for separate contracts, resulting in more paperwork and fees at the high end – unless the processing volume is high.

For those wishing to pass on the fee to the customers, surcharging carries an extra fee.

Accepted cards

Separate contract, extra fee