Skip to content

Costless Payment Solutions

  • Home
  • Blog
  • Products/Services
  • FAQs
  • Testimonials
  • Bio
  • Contact
  • Free Consultation
  • Home
  • Blog
  • Products/Services
  • FAQs
  • Testimonials
  • Bio
  • Contact
  • Free Consultation

Payment Surcharges- only charge what it costs you!!! From 1st September 2017, all businesses that impose payment surcharges on card transactions need to comply with the new law that bans excessive payment surcharges. Failure to comply with these laws, could result in an infringement notice issued by the ACCC with penalties up to $126,000. For further information, please contact me 0419762478 or mark.grant@costlesspaymentsolutions.com

23/07/2019 by Mark Grant
Categories Blog
Post navigation
Boom In Tap and Go Payments In Australia
Australia could become a completely cash-free society within 3 years (as reported in The Courier Mail 17/12/2018). This migration to a cash-free economy is due in part to the ease of tap-and-go payment solutions and online payment services. Governor of The Reserve Bank of Australia (RBA), Philip Lowe, says that Australia is at a turning point, with cash set to become a “niche payment”. Here in Australia we are already the sixth-highest users of electronic payments in the world, according to the RBA, with only 37 % of household spending done using cash compared with 69% a decade ago. University of NSW , Professor of Economics, Richard Holden said Australia could become a cash-free society in 3 years (ie 2021). So with the spending focus by consumers more towards card payments, how is your Business/Club/ Association placed to be able to accept this transaction surge in a “Costless” manner?

Recent Posts

  • Well did you know that the recent Optus Outage in Australia affected 10,000,000 people of which 1,000,000 were business owners. So I presume that of the 1,000,000 most had EFTPOS Terminals that could not operate due to no Optus Signal. Well that is where I can help you avoid this issue next time it happens. And there is every chance it will happen again (telco outage). I hear you say, how can I help you? Well the EFTPOS terminals that I offer , have a roaming sim card built into them. Therefore if this terminal is operating using the optus signal (and optus experiences issues), my terminals will automatically search for the strongest signal in the atmosphere to continue to function. Can you afford not to have a costless payment solution that operates at all times? Mark Grant mark.grant@costlesspaymentsolutions.com
  • Smartphones used more frequently for payments than cards
  • Is It Really That Easy!! Do you charge customers/clients a surcharge on transactions for accepting card payments in your business? If not why?If you are, what rate are you charging them?Example- You have your merchant facility with a bank , who charge you (the business) the following transaction costs:-Eftpos per transaction- 60 cents per transaction Mastercard/Visa – 2% per transaction American Express- 3 % per transaction. According to The Competition and Consumer Amendment (Payment Surcharges) Act 2016, what rate are you able to pass onto every client/customer who pays you by credit card/debit card?The answer is the lowest cost denominator- 60 cents. Most businesses would say 3%!! So to comply with the law, from the above example, you are only able to pass on 60 cents per transaction.However your bank would continue to charge you 2% per transaction for Mastercard/Visa and 3% for American Express Transactions. Therefore you would be losing money in this scenario.The option is to pay 1 rate for all cards ( with this rate either to be passed on automatically to your clients- making this EFTPOS Terminal fee free for you) or for the transaction costs to be absorbed by you in your buisness.For more information, please contact:-Mark Grant email- mark.grant@costlesspaymentsolutions.com phone- 0419762478
  • Square Terminal Outage
  • The pandemic has led to more use of cards with our spending. Resulting from the fear of spreading coronavirus by using notes and coins, have led to businesses and personal consumers to rely on debit and credit cards as well as smartwatches. The Reserve Bank of Australia’s Assistant Governor said last week there had been a sudden shift to contactless payments during the pandemic. Automatic Teller Machine withdrawals in April 2020 fell 30% from March 2020. In April, some banks altered contactless tap-and-go limits to $200 as a measure to reduce the need to enter pin numbers for payments. 59% of people say they will use some cash but not as much once the pandemic ends. 44% of people use a credit/debit card or mobile for payment more than 12 months ago. 59% say some of their local stores are only offering contactless payments. * Source- MYOB Survey of 1080 Australians May 2020 #costlesspaymentsolutions

Recent Comments

  • personal loans online on Home
  • pay day loans on Home
  • how to write a thesis on Home
  • phd dissertation writing service on Home
  • buy essay cheap online on Home

Archives

  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • April 2023
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • June 2021
  • May 2021
  • March 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • February 2020
  • December 2019
  • November 2019
  • October 2019
  • August 2019
  • July 2019
  • September 2018
© 2025 Zero Bank Fees | Nupay - The EFTPOS Company
Address: Robina, Gold Coast, 4226
Phone: 0419 762 478
Email: mark.grant@costlesspaymentsolutions.com
Terms and Conditions