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Everything You Need to Know About EFTPOS When Starting a New Business
Starting a new business is exciting but it also comes with a million decisions. One of the most important? How you’ll accept payments.
1 Apr 2025
If you're new to the game, EFTPOS might sound like just another acronym. But trust us, it's a game-changer.
Here’s your no-nonsense guide to EFTPOS, brought to you by the team at PayNuts.
What Is EFTPOS?
EFTPOS stands for Electronic Funds Transfer at Point of Sale. It’s the system that lets customers pay using debit or credit cards—whether they’re tapping, inserting, or swiping.
In short: EFTPOS is how you get paid.
What You’ll Need to Get Started
Setting up merchant facility is easier than ever. Here’s what you’ll need:
- An EFTPOS terminal – This is the device customers use to pay.
- A merchant account – This connects your terminal to your bank.
- A payment provider – That’s where PayNuts comes in. We handle the tech, the setup, and the support.
What to look for in an EFTPOS Provider
Not all EFTPOS providers are created equal. Here’s what to consider:
- Transparent Pricing – No hidden fees. No surprises.
- Fast Settlements – Get paid quickly with same-day or next-day deposits.
- 24/7 Support – Real help from real people, around the clock
- Mobile & Flexible – Take payments anywhere your business goes.
EFTPOS Pricing: What You Need to Know
Pricing can be confusing, but it doesn’t have to be. At PayNuts, we keep it simple with two flexible plans designed to suit your business needs:
Pay Nothing Plan
You pay nothing. Your customer covers the cost.
- Merchant service fees are passed on to the customer at the point of sale.
- You keep 100% of the sale.
- Fully compliant with Australian surcharging regulations.
Perfect for: Businesses that want to maximise margins and avoid absorbing transaction costs.
Low Fee Plan
You absorb the fee but we tailor the lowest rate possible for your business.
- You pay a small, customised transaction fee based on your volume and industry.
- No surprises, just transparent, predictable pricing.
Perfect for: Businesses focused on customer experience or operating in competitive markets.
EFTPOS for Different Business Types
Whether you’re running a café, a retail store, or a mobile dog grooming van, EFTPOS makes life easier:
- Retail: Speed up checkout and reduce cash handling.
- Hospitality: Split bills, accept tips, and integrate with POS systems.
- Services: Take payments on-site or on the move.
Terminal rental from $0/mth¹
Standalone or integrated.
Accept major payment types.
Including pay now, and pay later.
24/7 customer support.
Call us, email us, or request support online.
No monthly transaction bills.
Net settlement, so nothing to worry about.
Custom quotes.
A low-fee rate. Tailored to your business.
Save money.
With every single transaction.
PayNuts Merchant Portal.
Single source reporting.
Receive funds fast.
Same day funding available, 7 days per week.
Why PayNuts is the smart choice for new businesses
Starting a business is hard enough, your payments shouldn’t be. PayNuts is built for simplicity, flexibility, and growth. Here’s why we’re the go-to EFTPOS solution for Aussie startups:
- No setup fees, no rental costs, and no lock-in contracts
- Flexible pricing plans to suit your business model
- Fast, reliable terminals with same-day or next-day settlements
- Friendly, local support when you need it most
Whether you're just opening your doors or scaling up fast, PayNuts gives you the tools to get paid easily, efficiently, and affordably.
Ready to Get Started?
Setting your business up with an EFTPOS terminal doesn’t have to be complicated. With PayNuts, it’s fast, simple, and flexible.
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