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.

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.

A free point of sale system also makes selling goods and services fun.

Square pricing:

You simply buy the card reader and pay only a fixed rate of 1.6% for all card transactions incl. with foreign, premium and eftpos cards. Afterpay acceptance is conveniently built in, which normally boosts sales for retailers and services where customers lack funds upfront.

There are no monthly or annual fees to worry about. You can even pay for the terminals in small, interest-free instalments over 3, 6 or 12 months, helping you to afford the hardware now instead of delaying when you start to sell.

You own the hardware for good – no returns required – unless opting for Square’s short-term rental geared towards events.

“In my tests, Square has always processed payments promptly and impressed me with their constant new features and crisp, but user-friendly, apps that have been honed for years.”

– Emily Sorensen, Senior Editor, Mobile Transaction

Square Reader ($65 incl. GST) works together with a free Point of Sale (POS) app on your phone or tablet connected with 4G or WiFi. It’s the smallest card reader we’ve tested, and the Square app is regularly updated to optimise the user experience and avoid bugs.

The app has a wealth of features for most face-to-face merchants, e.g. product library, tipping, GST, staff accounts and a customer library. On top of this, you get invoicing, a virtual terminal for over-the-phone payments and ecommerce tools like an online store – all with an online transaction rate of 2.2%.

Alternatively, you can subscribe to Square’s specialised POS systems for retail (e.g. independent shops, pop-up stalls), hospitality (restaurants, cafés, bars) and appointments scheduling (great for dentists, gyms, therapists, hairdressers, garages).

The more expensive, portable card machine Square Terminal ($329 incl. GST) and Square Handheld ($349 incl. GST) only work through a secured WiFi connection, not 4G for mobile use. However, they don’t need a connected mobile device and have a touchscreen display with Square’s POS software. If WiFi fails, offline mode will kick in so you can still accept card payments smoothly – as long as the terminal reconnects with WiFi within 24 hours to finish processing.

Accepted cards

Merchants can surcharge on the EFTPOS machines (until the October 2026 ban) to avoid the Square rate, which admittedly isn’t the lowest in this comparison.

The free payouts reach your bank account the next day, even on weekends, but qualifying merchants can get funds instantly for an added 1.5% fee. Square is the only one offering instant payouts to a bank account from EFTPOS machines in Australia.

Zeller has already become a top contender in the Australian payment space since its launch in 2021 – and it keeps getting better.

Initially, only Zeller Terminal 1 impressed with a simple transaction interface, but the company’s newer Zeller Terminal 2 has attractive POS software.

No setup and monthly fees apply; you just purchase a card machine for as little as $99 (incl. GST and a 12-month warranty) to keep indefinitely. Zeller has pulled their terminals out of the Officeworks network and now focuses on keeping the price low from its own website.

There’s no contract lock-in, only a pay-as-you-go transaction fee of 1.4% for chip and contactless card payments.

The optional surcharge function lets you avoid the transaction cost, but you can only do this until it’s banned soon. Unlike some of the big banks, Zeller does not add a commission on surcharges.

Zeller pricing:

Zeller includes a free transaction account where funds arrive the same night, which we verified during testing. This is linked with a business Debit Mastercard (in the package), so you can spend the money the next morning. The card links with 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 a web portal and app that also accepts tap-to-phone transactions and sends invoices. I really like the potential of the contacts directory, which is not just for customers, but also suppliers and anyone you’re in business with. It’s all designed to work together so you can manage expenses and all aspects of the business in the same account.

Zeller Terminal 1x (newly launched upgraded version) has a receipt printer and large touchscreen showing a simple checkout for entering a transaction amount, adding a tip and accepting cards. Customers can enter their PIN on the screen.

Terminal 2 has actual POS software like a product library to make it more versatile, but no receipt printer.

“I was impressed with Zeller Terminal 2’s unique beauty, like the lit-up logo on its front end and flat middle body. The software layout could be more intuitive in a couple of places, but it was overall user-friendly, payments worked smoothly and the battery doesn’t run dry from being on standby for a few days.”

– Emily Sorensen, Senior Editor, Mobile Transaction

Both have day-long battery lives and WiFi connectivity, but a SIM card should be purchased if you need 4G.

Accepted cards

They integrate with leading POS systems, accounting, ecommerce and Buy Now Pay Later solutions.

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.

On my Terminal 2, I loved how I could upload any picture file and it would display as a screensaver with a matching background colour. This could be a promo graphic or business logo – not a feature you see with Square.

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, POS, invoicing and integrations with accounting.

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 Low Fee EFTPOS or Interchange++.

PayNuts pricing:

The Low Fee plan costs nothing for EFTPOS rental, just a fixed transaction rate for Visa and Mastercard covering the EFTPOS machine costs too (premium card brands have higher rates). The rates are personalised and on the low side compared with alternatives, between 0.7% and 1.5% depending on your type of business and revenue.

The other plan, Interchange++, charges from $29 incl. GST monthly for EFTPOS rental and a very detailed set of fees for card schemes (e.g. Visa, eftpos), banks and a small commission for PayNuts. Although very varied, these fees reflect the actual cost of taking each card payment and are in total lower than the fixed rates on the Low Fees plan. Many businesses also see this as more transparent, as they get a detailed breakdown of all these costs every month.

PayNuts’ most popular EFTPOS machine is the mobile and portable PAX A910S Android terminal that comes in a tasteful mocha colour and white. It prints receipts and features a gorgeous HD touchscreen.

For a slightly longer battery life and professional, built-in barcode scanner, the white PAX A920Pro is PayNuts’ premium choice. We’ve tested this and can honestly say its card processing is very fast, it’s pleasant to hold and the screen is high quality.

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 checkouts with its mobile, portable and stationary touchscreen terminal (EFTPOS Now), stationary machine (EFTPOS Connect) and self-service terminal (EFTPOS Flex).

EFTPOS Now, a Verifone T650p model, is a beautiful touchscreen terminal that works independently in all situations, anywhere with WiFi or 4G. 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 accessed on its touchscreen display.

It integrates with points of sale through a connector app, but not all POS systems are compatible. The terminal comes with a few other apps, like Smart Giving for receiving donations and Smart Hospitality for taking orders table-side.

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 three portable and mobile EFTPOS machines (Tyro Pro) for rental.

You pay $29 monthly for Pro Touch (with a large touchscreen) or Key (with a keypad and touchscreen display) that work with 4G or WiFi and integrate with most POS systems. Recently launched Pro Lite is a somewhat simpler version of these terminals.

The service is cancellable any time, but you have to return the terminal when leaving the contract.

Tyro pricing:

“My tests of Ingenico Axium DX8000 (Tyro Pro Touch) have been positive, so this shouldn’t have issues unless Tyro’s software fails.”

– Emily Sorensen, Senior Editor, Mobile Transaction

Tyro has 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.

The Pro machines are manufactured by Ingenico, hard-wearing and look professional on a countertop or outside. They’re a big step up from the previous outdated Tyro terminals that had technical problems in 2021. The new card machines are much better, including the cheaper Pro Lite for $19 monthly.

Accepted cards

Former EFTPOS company Smartpay has recently been acquired by international payments company Shift4. Taking on the Shift4 brand, the company still offers a plan that requires surcharging to avoid fees. And like before, the terminal has limited features apart from basic card transactions.

The former Smartpay brand has already won over a solid fraction of Australian small businesses. Sellers typically opt for its “zero cost” plan to to boost margins – but it is not for everyone.

Shift4 pricing:

For a start, no merchant can avoid paying less than $100 + GST every month through transaction fees or surcharging – that’s how the companies makes money.

At the time of writing, only one terminal is offered by Shift4, the PAX A920Pro model. This is a vast improvement on the last EFTPOS machine it offered when it was Smartpay, so we’re happy to see some progress.

Fees are based on your industry and sales turnover. Additionally, the “low fixed rate” on the Pay the Fees plan only applies to Visa, Mastercard and eftpos, not Amex and other cards that have much higher fees and require an extra contract.

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. The standalone or integrated terminal costs $25 monthly, which is one of the lowest rental fees on this list, but it still exceeds the cost of purchasing comparable smart terminals from providers higher up this list over the course of a year.

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.

Accepted cards

Separate contract, extra fee