The EFTPOS terminal rental costs $25 + GST per month. This can be cancelled any time without a termination fee, though you should submit the cancellation request before the next payment is due, because the monthly fee is non-refundable.
The transaction fees are more complicated, but merchants have a choice between three different pricing plans: Interchange+, Interchange++ or Blended rates.
Interchange++ is the most complicated – but fairest – pricing structure. One part of this structure is the cost of card processing, which includes card scheme fees and fixed interchange rates charged by the card schemes Visa, Mastercard, eftpos and others. The other part is a merchant acquiring fee. In other words, you pay the actual cost of the transaction plus the margin of Till.
The card scheme fees vary by the type of card used. Merchants who already have an idea of what kind of cards they typically accept can usually get a better deal switching to a service like Till Payments compared to a single flat rate of, say, 1.9%.
The total fees you actually pay, including the card scheme/interchange fees and the margin, are between 0.8% and 1.5%, possibly above that for business cards, foreign-issued cards and American Express.
The following table shows the interchange fee ranges for Australian credit or debit cards for the main card schemes.