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Card Payments
Debit Cards: EFTPOS systems are widely used for direct bank transactions.
Credit Cards: Visa, Mastercard, and American Express are the most common.
Contactless Payments: Tap-and-go technology is highly popular for quick transactions.
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Tools:
EFTPOS terminals:
Independent Providers
These companies specialize in EFTPOS and card payment solutions:
Tyro Payments
Features: Seamless integration with over 300 POS systems, fast transactions, and Tap & Save for lower fees.
Square Terminal
Compact, portable terminal with inbuilt receipt printer.
Features: No monthly fees; ideal for small businesses.
EFTPOS Australia (Ingenico)
Offers a range of wired and wireless terminals.
Features: Reliable, widely compatible devices.
Verifone
Known for advanced security features and robust hardware.
Options for wireless and integrated POS solutions.
Smartpay
Features: Zero-cost EFTPOS options, with fees passed to customers.
Target Audience: Small businesses and sole traders.
Zeller Terminal
Modern, all-in-one terminal.
Features: Competitive pricing and same-day settlement.
Specialty Providers
These providers cater to specific business needs:
SumUp
Features: Small, lightweight, and easy to set up.
Best for: Microbusinesses and sole traders.
PayPal Here
Features: Works with smartphones and tablets.
Best for: Pop-up shops and mobile businesses.
Mobile payment solutions like Square or PayPal Here
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Bank Transfers
Direct Deposit: Customers transfer money directly to a business account.
1. Big Four Banks’ Apps
These are the major banks in Australia, each offering feature-rich mobile apps:
Commonwealth Bank (CommBank App)
Features: PayID, bill payments, savings tools, and BNPL through StepPay.
Westpac (Westpac App)
Features: Card controls, PayID, travel notifications, and expense tracking.
ANZ (ANZ App)
Features: Multi-currency accounts, budget tracking, and voice banking with Siri.
NAB (NAB App)
Features: Instant card lock, PayID setup, and direct access to budgeting tools.
2. Digital-Only Banks (Neobanks)
Up Bank
Features: Automated savings, instant insights, and partnerships with budgeting tools.
Appeal: Tech-savvy younger users.
86 400 (Now part of UBank)
Features: Real-time spending tracking and energy bill comparison.
Revolut
Features: Multi-currency accounts, crypto trading, and instant transfers.
Judo Bank
Features: Business banking focus with competitive term deposit rates.
3. Other Traditional Bank Apps
Bendigo Bank (e-banking App)
Bankwest (Bankwest App)
Suncorp (Suncorp App)
BPAY: A secure and convenient Australian payment system for bills.
Mobile Banking Apps
Services like Beem It allow direct person-to-person payments, popular for informal or split payments.
In Australia, businesses can accept payments through a variety of methods to accommodate customer preferences and operational needs. Here are the most popular options:
