Hi there,
My partner is looking to start a business and initally we will be selling some stuff on weekend markets.
What is the best option to accept payments ?
I looked up those small tap devices from Square and CBA and also Stripe (accepting payments directly from iphone or android) .
Does anybody has any suggestions/recommendations in relation to accepting payments ?
Also open to any other info we should be aware off as we are starting our own busines ?
Cheers
Thought about accepting cash?
Less and less people are carrying cash these days, definitely should be something accepted. But you risk losing a lot of sales these days without the ability to pay with card. I know i've walked out on a cafe where they didn't have a card reader.
OP has not suggested not accepting cards.
So what if less ppl carry cash?.That's the very surrender that has delivered the banks their preferred methods.
If punters want the item at a cash only stall, they'll find it.
We will be happy to accept cash and we are also planning to keep some change on hand for this.
we use square, was like 65bucks from officeworks
https://www.officeworks.com.au/shop/officeworks/p/square-2nd…
they charge a commision that was one of the lowest in the market, people shopping at markets are used to these types of things and not having a register, or the full tablet set up is fine. No one has ever not made a payment because of that.
Just making things on the weekend and selling is all we do, not a shop.
It is linked to the ATO though, so Square shows up on your end of year Tax Return as income
Only thing I don't like about vendors using the little square terminal is when they don't show you what they have typed in as the cost on the app. Having to muck around for a refund is no fun, just show me what you have typed in so I can verify what I will be charged.
yeah 100% get ya, my missus puts her phone and the numbers that is typed in up to the customer then next to the reader to show them so they can be comfortable paying.
the terminal is like $250, its a lot when markets dont bring in large chunks of money and its all a bit of fun
This only happens if people are using the cheap terminal. All the other options (Tablet, Terminal etc) have a screen with all the information.
Even with the cheap terminal, best practice is they show you the phone which has the info.
They also accept payments via iphone. Did this over the weekend, tapped my iphone to the vendors iphone (using square app).
Second this one. https://www.apple.com/au/business/tap-to-pay-on-iphone/ has a good explainer on accepting payments directly with your iPhone (no payment terminal needed) and details which payment services it supports (including Square, as mentioned previously).
As another commenter mentioned, you’ll have the amount of the payment displayed on the screen of your phone as you request payment to reassure the customer.
My Dad uses Square, and it's okay. Sometimes, connecting the Bluetooth device is a pain.
I use Stripe myself via my iPhone and found it to be pretty simple! Since I already had Stripe linked with my Xero, it was easy to add it to my phone.
I charge the fees, which are about 1.6% on top of any purchases, and people are generally okay with it. All depends on the volume, you could just up your prices to factor in card fees or offer cheaper prices, but with card transaction fees.
I charge the fees, which are about 1.6% on top of any purchases
You can't do this UNLESS you also offer fee free payment options such as cash
source: https://www.accc.gov.au/business/pricing/card-surcharges
I never said that I only accept card payments. I do offer Bank Transfer and Cash options as well. I don't encourage card unless the customer says something and is happy with the fees. It is available on my Xero Invoices along with Bank Transfer details.
Where does it say that?
source: https://www.accc.gov.au/business/pricing/card-surcharges
I think here is where it refers to, but it is worded in a weird way.
Essentially, if all payment methods incur fees/surchages, you must display the price including all fees and charges. You cannot display the price and then add fees/surchages to it later if all your method incur fee/surchages.
@geekcohen: I was querying modsec802's statement that you cannot charge the fees if you're doing cashless only. I say it is okay. As long as you disclose the fee as a split surcharge, or incorporate the fee into the single cost to the customer. Simply put, you cannot hide the fee.
There is nothing in that page that says you need to offer cash payments if passing on the surcharge.
@NanoDuke: I understand that and I am not against you. What modesec802 I think is saying, is that according to ACCC you have to offer other surchage free payments to pass on the surchages via card payments.
My understanding is.
You cannot say - "I only accept cards and there is a 2% surcharge on all transactions".
If you accept card only, then you need to include the surchage within your product pricing.
The ACCC page doesn't explicitly say the exact words on the above, but that is the translation.
Not sure how viable, but I've been to some markets that just accepts PayID as payment.
We will definately offer this option, but PayID as of now involves some extra clicks which can cause friction in the buying process.
those small square terminals offers easy tap on payments.
Few market I have been to recently have not even been using payment terminals like the Stripe ones. But just use an app on their phone that then customers can tap their card or phone to for payment. To me this seems like the easiest solution.
Looks like Op needs to do more to help out as the "small tap devices" have a name and when speaking with companies you need to use the correct words.
Sorry I did not understand, what do you mean ?
the "small tap devices" have a name
What's the name, smarty pants?
Another person who cannot use Alta Vista.
https://au.search.yahoo.com/search;?p=small+tap+devices&fr=a…
(Alta Vista redirects to Yahoo these days)
If you're willing to absorb credit card and debit card service fees, then it's fine to use any tap-and-go payment method. However, if you intend to pass these fees on to customers, please clearly disclose the surcharge amount in advance. It's not fair for customers using a debit card to be charged extra for your convenience.
Additionally, please display your PayID details so that customers who prefer to pay via bank transfer can do so and avoid additional charges.
Lately, I've noticed some businesses passing on surcharges of up to 3.5% on debit card purchases. When asked about the surcharge amount, many staff members are unsure and simply say, "The equipment provider charges you, not us." This lack of transparency is concerning.
We are thinking of absorbing the costs, they seem to be around 1.2% to 1.6% on every transaction. Yes, we will be allowing customers to pay using Cash and PayID as well.
Lately, I've noticed some businesses passing on surcharges of up to 3.5% on debit card purchases. When asked about the surcharge amount, many staff members are unsure and simply say, "The equipment provider charges you, not us." This lack of transparency is concerning.
3.5% is very high. Even as a SMB myself that might to under $10k in card transactions, I have a 1.6% surchage and that is through Stripe.
The staff members probably have no idea, it would be the business owner that should know it. The 3.5% might be because they get a free terminal and/or internet connection with the unit, so all those fees are within that. Rather than the business buying the terminal and providing an internet connection to then have lower fees.
It was probably a sales tactiq by the terminal provider to upsell and therefor be able to charge higher amounts.
This is becoming increasingly common at cafes and restaurants, where integrated ordering systems are used—connecting the kitchen, cash register, and payment terminal. Staff often say, “Please tap your card on the scanner,” and most customers do so without hesitation.
However, many are unaware that a surcharge of around 3.5% is applied. This is because the payment terminal is leased from a third-party provider, and the surcharge helps cover those costs. Unfortunately, this practice is not always clearly communicated to customers.
It’s a subtle way that some terminal providers—and sometimes businesses—generate additional revenue, often at the customer’s expense. Greater transparency around these charges would help customers make more informed decisions.
I have a small business and use a Square Terminal.
Yes they do a smart phone app/payment system now, but some people iny experience are not as comfortable puting in details or using a card on my phone.
You buy the terminal outright and fees are reasonable. You get paid the next business day, or sometimes the next. I just use my mobile phone hotspot to get online.
Annoyingly the terminal has frequent updates which is good, but the reboot process is lengthy. This usually happen after I turn it on when I need to take a payment. You can avoid this by leaving it connected all the time, or remembering to turn it on at least once a week to let it update and reboot
HTH.
apprecaite your response, i will keep in mind the frequent update thing
Yes it can catch you out. It can take 10 minutes sometimes.
Also forgot to mention you can sms the reciept instead of printing, and set up common items as a set sale.
FWIW I thnk they are better than the bank Tyco offerings. They slug you a monthly fee abd transaction I believe.
Square would be the best option. easy setup and support large number of payment options. looks way more professional compared to taking payments on phone.
Yup it does look better
If you go with the Square Card Reader, you are still taking payments via your phone…. Its all just as secure as tapping on someone's phone using something like Stripe.
Tyro
I think EFTPOS AIR from Westpac is a good choice:
https://www.westpac.com.au/business-banking/merchants-and-pa…
No extra hardware needed
Once your application is approved, download the EFTPOS Air app on your compatible device¹. Easy.
Simple costs
No setup costs, monthly fees or lock-in contracts. Just pay 1.4% per transaction.³
Avoid long queues
Multiple users can take payments simultaneously.
Receive funds same day
Keep your cash flowing with nightly settlement of funds into your Westpac business account.⁴
Thank you.. I am looking into this as well
For example: https://www.nab.com.au/business/payments-and-merchants/accep…