What questions to consider when choosing an EFTPOS provider!!

Choosing an EFTPOS Provider is a big decision for any business owner and finding the right provider is essential for good cash flow and taking secure, fast payments.

Every day, Australians make 6 million card transactions, which are handled by more than 760,000 merchants

Should you go with your bank? Or a new tech company? Or a local payments expert like Smartpay?

It feels overwhelming, but it does not need to be. All you need to do is focus on what is important to your business.

**What cards do they accept?

Contactless technologies and a cashless society is fast becoming the ‘norm’ in Australia, especially post-covid, so one of the first steps in choosing an EFTPOS provider is to examine what cards they accept.

EFTPOS terminals usually accept Visa and Mastercard as standard however, the terminal you choose should ideally be able to process other popular types of EFTPOS payments including tap-and-go options like Apple pay or Google wallet. Depending on your client base and business offering, you may also want an EFTPOS provider that accepts American Express, Alipay & WeChat Pay.

By ensuring your business offers a range of payment methods, the customer can choose to pay in a way that is convenient for them, thus increasing your level of reliability and customer service as a business.

**What is the fee structure and transaction volume?

For many small-business owners looking at EFTPOS providers or terminals, EFTPOS fees can be the deciding factor.

In most cases, EFTPOS providers will charge you per transaction based on card type. Premium credit cards usually attract reward points meaning higher costs for most SME , Club and Association merchants, with lower rates charged for domestic cards and higher rates for premium ones.

When it comes to fee structures and transaction volumes for EFTPOS service providers, there are a few key elements to look for.
At Smartpay, I offer Zero Cost EFTPOS and Simple Flat Rate solutions, tailored to help SME , Club and Associations save on merchant fees and manage their cash flow.

Whether it’s saving money on your EFTPOS bill or knowing what your bill will be at the end of the month, I aim to help businesses, clubs and associations across Australia succeed with funds deposited into your business bank account the next business day.

**How reliable is their service?

It is important to stay connected and deliver excellent customer service ensuring minimal outages and downtime.

How frustrating is it, when you go to process the payment and you are unable to do due to an outage!!

To avoid these kinds of issues, you’ll want an EFTPOS network with a proven record of excellent connectivity and reliability.

Look for EFTPOS terminals that are built by offering multiple connection options such as 5G, Wi-Fi, broadband and a physical SIM card to stay connected no matter what the situation.

Smartpay offers a free SIM card with all terminal devices and Wi-Fi ensures portability for both in-store and offsite transactions (e.g. food trucks, table service, pop up stores or markets), taking payments from your customers anywhere, anytime.

**Is it easy to set up and use?

Ease of use is critical when considering any kind of payment technology and something to consider when choosing a provider.

There are specialist EFTPOS providers such as Smartpay (which I am an agent for), offering a device with an easy step by step setup process .

When the terminal arrives, just ‘plug in and pay’, and unlike some banks, there is no wait for a technician to connect you, keeping your business running with minimal downtime.

Not only is it important to look for something easy to install but also simple to use. This reduces time when training your staff and human error when calculating transaction costs.

**Does this EFTPOS service provider offer ongoing support?

As a business owner, you know things can go wrong.

When it comes to choosing an EFTPOS service provider, you should consider their customer service and support model.

Is this EFTPOS service provider a specialist who’s core focus is EFTPOS only or will I be lumped into a telephone queue with other business queries taking time away from my business?

Is the support team locally based and in-house or outsourced offshore and what hours are they available?

It is key to look for an EFTPOS service provider who offers you customer and technical support 24/7, 365 days per year to help if any problems arise.

At Smartpay, we’re just a call away and our in-house support team are here to help from when your business opens to when you close, every day.

Credit Card Surcharges

From 1st September 2017, all businesses, clubs and associations Australia Wide that impose credit card payment surcharges on card transactions, need to comply with the Commonwealth 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 or questions:-

https://lnkd.in/g_uAuFx

mark.grant@costlesspaymentsolutions.com

call – 0419762478

CEO Sleepout

Hi Mark, I’m here as living proof that homelessness can happen to anyone.

Here is Sue’s story-I had a wonderful job, a privileged background, three university degrees (including a PhD), I even owned a home, I had children… and none of that was enough to save me from homelessness.

I’m also here as proof that your support means everything when it comes to helping people out of homelessness.

I bet you sit here reading this, wondering how someone like me – someone with ‘Dr’ in their title – could even become homeless?

What happened to me was domestic abuse.

To raise money for the CEO Sleep Out and to help Sue and many others like her, I am “offering” myself as a slave for the day to the highest donation to my fundraising.

So far this is $300!!Your kind donations (which are tax free) are able to made using the following link:-https://www.ceosleepout.org.au/fund…/mark-grant/gold-coast

Costless Foreign Currency Payments

Are you wanting more flexibility, service and no transfer fees when transferring funds either overseas or receiving foreign currency?

With Torfx, you are also provided with unique market insights and guidance.

You have the ability to transfer more than 40 currencies to over 120 countries quickly and securely.

Torfx have assisted clients with:-

Transfers for foreign property settlements and investments

Emigration and relocation

Inheritances and settlement of estates

Repatriation of personal funds/pensions

Sending money to family/or friends overseas

Intercompany transfers/ repatriation of business revenue/sales proceeds

Covering import/export costs and supplier invoices

Managing Overseas Payroll

If you are wanting more information, please click “get a quote” on the attached brochure

www.costlesspaymentsolutions.com

mark.grant@costlesspaymentsolutions.com

call- 0419762478

Are you happy using PayPal and/or Stripe for accepting Online Payments?

“It is killing my small business,” this is a comment I am receiving far too often from clients who are using either PayPal or Stripe for accepting payments online. 

“So why use PayPal and/or Stripe?” I ask and the response is “I use what everyone else uses.” 

This article is not intended to tarnish PayPal and or Stripe but to provide options for you to consider for your Online Payments. 

What if you were guaranteed funds into your bank account within 2 business days? 

And it does not matter which bank in Australia you bank with either!! 

In this business environment of rising costs and diminishing returns, you can offer to pass on the transaction costs to your clients, therefore making this Hosted Payment Page (HPP)- provided By Payrix (formerly Integrapay) “fee free to your business.” 

This is also a more time and cost effective option if you are accepting or wanting to accept payments over the telephone.

Having over 20 years banking experience in Australia, my business Costless Payment Solutions, was established with a desire to “give you back control” of the fees you have been paying to the banks for your Payment Solutions. 

So, what would you do with the $5000, $10,000 or more than I will save you?? 

There is no cost in talking with me!! 

www.costlesspaymentsolutions.com 

Email- mark.grant@costlesspaymentsolutions.com 

Telephone- 0419762478 

Direct Debiting With No Costs For Your Business, Club Or Association!!

Are you continually charging a client the same or varying amounts?

You may think is there a more time saving and cost effective way to process this transaction!!

Well perhaps a Direct Debiting Solution may be your answer.

Direct Debit (DD) payment solution enables you to automate payments on a recurring and subscription basis from either a Bank Account or Credit Card.

The solution I provide even offers the option for you to “pass on” the transaction costs to your clients if you wish!!

Effectively making this solution, cost neutral to your business, club or association.

Using our direct debit payments solutions, you can process payments easily and securely to reduce manual effort, errors, and processing costs.

Is daily reporting (Monday to Friday) of payments received and rejected important to you?

Well this is an additional service provided with this product.

For further information, please refer to :-

www.costlesspaymentsolutions.com

Telephone 0419762478

mark.grant@costlesspaymentsolutions.com

What should you consider when selecting an EFTPOS Provider!!


Every day, Australians make 6 million card transactions, which are handled by more than 760,000 EFTPOS terminals – and it can feel like you have just as many options when it comes to EFTPOS providers.

Should you go with your bank? Or a new tech company? Or a local payments expert like Smartpay?

It feels overwhelming, but it does not need to be. All you need to do is focus on what is important to your business.

How to work out what EFTPOS features matter to your business.

If you are not clear on what matters to your business, you can look at what others think.

When Canstar surveyed Australian retailers about merchant services, they found retailer satisfaction was driven by: –
21% Customer Service,20% Fees/Charges, 20% Speed of Service/Transaction, 15% Reliability,13% Online Reporting, 11% Device Functionality.

Why Customer Service Is So Important

Payments are the lifeblood of any business. That is why merchants rate customer service importance so highly.

When looking at an EFTPOS provider, you might consider:

Do they offer 24/7 support?

Can you call an expert or are you stuck with a chatbot?

Is the customer team based in Australia or overseas?

Smartpay provides an easy plug and play set up with remote software updates to make your life hassle free.

Fees and Charges

Two out of three Australian merchants believe they could get a better deal on EFTPOS fees by shopping around – but less than one in four will switch their current provider.

Why is that?

Probably because there are so many different fee structures for Merchant Services out there, and this can make comparing options confusing.

All-inclusive monthly plans (like what the banks’ offer) will have you paying for transactions you do not use, while interchange plus will have you scratching your head with all the different charges for different cards.

Smartpay’s Simple Flat Rate is a straight-forward and transparent option that offers simplified competitive rates and is easy to compare.

You can instead choose to wipe out all Merchant Fees by passing the costs on to customers with Smart Charge.

You might be surprised, but most customers do not mind paying a surcharge when it is done right.

If you are like most businesses, you want to get paid quickly.

If you trade during the weekend, check the provider settles weekend trading too, so the money is in your account on Monday.

Also check if a provider verifies you and your business before they set you up. If they do not verify you properly at sign up, they could withhold your funds later to check details they should have been confirmed earlier.

Future- Proofing your payment solution.

Unless you are a pop-up shop, you want an EFTPOS provider who is thinking about the future.

You want to know they will be here for you today with reliable hardware, and there for you tomorrow with smart innovations.

You might ask:
• How simple is this solution to set up?
• How easy is it for my staff to use?
• Who maintains the security software?
• How can I connect to the network? Fixed line, Wi-Fi or mobile?
• How easy is it to upgrade terminals?
• Can we integrate with a POS system like Vend?
• Can we accept Chinese mobile payments like Alipay or WeChat Pay?

Future proof your business with a terminal that works the way you demand.

Smartpay does not just sell EFTPOS solutions, we develop and maintain our own payment hardware and software too.

That allows us to focus on the innovations that matter to Australian businesses, like Alipay and WeChat or POS Integrations, and make this available sooner.