Hi
Im a very small business who wants to take credit card payments and have seen the new PayPal Tap n Go Mobile Card Reader in officeworks.
I want to be able to take payments from people of about $7000 a year and was wondering if there is a better alternative then paypal here.
Thanks for you help.
Break down of alternatives.
CBA $30 Month (Sales up to $1500 per month). So for $7000 per year transaction fee would work out to 5.14%
NAB $40 Month (Sales Up to $1500 per month) So for $7000 per year transaction fee would work out to 6.86%
WBC (Sales up to $7500 per year) 2.4% for Credit Transactions, $0.30 for EFTPOS. $100 to buy device.
ANZ Competitive Pricing Package. Yeah right.
Paypal $149 for new Tap and Go ($99 for non Tap & Go) Transaction Fee 1.95%
(Does not accept EFTPOS ie Savings/Cheque transactions)
So WBC gets close, but not much room to grow if exceeds expected sales of $7000.
Paymate $16.50 per month, (First $500 of sales free then 2.475% +$0.55) $149 to buy device
Livepos $99/month.
Also customers are not that keen using an unknown or strange device.
Thanks for your time and efforts mate. So after all your research and calculations which one is the best option? Is it PayPal Tap & Go?
If you don't want to buy the Paypal card reader you can also just use the Paypal app and key in the card number manually. Without the card reader it's an extra 1% on the transaction fee each time but you could at least give it a trial that way. Probably best for phone payments though, might look a bit dodgy keying a card number into your phone in front of someone.
Check out tyro at tyro.com. Should be close to the cheapest for that small volume. I usually see their terminals in smaller businesses around.
(http://tyro.com/tyro-mobile/)
We have partnered with PayPal to keep you one-step ahead. With Tyro Mobile you automatically get mobile payments acceptance*. No need to sign up with PayPal or talk to your POS partner. As simple as that.
*PayPal domestic transactions incur a fee of 1.95%. PayPal international transactions incur a fee of 2.95% (GST exclusive).
I too am looking in to the paypal tap and go although I used to have a mobile eftpos from LiveEftpos. Fees were approx-
$40 per month
2% transaction fee (higher for credit cards)
everything worked well, printed receipts etc
Could also check out Pin Payments: https://pin.net.au
From website: "Pin Payments pricing is simple, and includes everything you need to take payments in websites, mobile apps, and in-person. Successful AUD transactions are charged at 1.75% + 30c (all other currencies charged at 2.6% + 30c)"
No terminal, just manual entry through webapp.. So trust factor might be a problem.
Pin employee here*. We built our POS web-app for this kind of thing https://pin.net.au/pos "the terminal you already own". If a customer is suspicious about a web app (which is essentially an online transaction), you could point them towards our security page/have them contact us directly to confirm that you are a real approved merchant. Happy to answer any questions.
*Mods: let me know if forum responses in this way are not permissible
Hey Zac, does Pin have any plans to bring a reader to market? It would be nice to get a contactless reader out to the Australian market before Square does :)
We have a lot of plans! We're a small Australian company but we're expanding rapidly and we'd love to do a contactless reader in time.
Tyro aren't so competitive anymore because they pulled out outright terminal purchases option :/
So you're stuck with $30/mth rental fee
Old thread I know but that sucks. Does anyone know of something similar to tyro where you can purchase eftpos unit and just pay 1% of whatever you transact. Not really keen for a monthly fee considering I won’t be using it regularly.
For a mobile card reader, Paypal & Square at just under 2%.
If your turnover is low, your rate won't be great.
Banks are keen on monthly rental fees for terminals.
Cheers they were the only two I could find as well. Monthly fee is the annoying part, wouldn’t mind paying a couple hundred just to own the terminal then just pay for what I use. I saw Westpac have one as well but it has to be tied to their business account so doesn’t really work out being PAYG
All the Big 4 Banks in Australia offer some kind of mobile powered EFTPOS machine.
https://www.commbank.com.au/business/merchant-services/devic…
and
http://www.westpac.com.au/business-banking/merchant-services…
and
http://www.anz.com.au/small-business/products-services/merch…
and
http://www.nab.com.au/business/payments-and-merchants/nab-ef…