Eftpos interchange rates in Australia

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Payee Eftpos Interchange Rates

With Payee Eftpos you can design a payment service to suite your business.

At Payee, we don’t bundle and hide costs like the big banks. Instead, we pass on the real interchange rate set by Visa, Mastercard and eftpos — then add just a tiny margin. That’s called interchange-plus pricing.

The result? Fair, transparent, and often way cheaper than flat-rate providers like Square or Stripe — especially on everyday debit tap-and-go payments.

With Payee, you see exactly what you’re paying for, and you keep more of every sale in your pocket.

“Transparent Pricing Made Simple – Powered by Payee”

At Payee, we believe accepting card payments should be fair, clear, and low-cost — just like you. That’s why we pass on the actual interchange rate (set by Visa, Mastercard & eftpos) plus only a tiny, upfront margin. No hidden fees, no guesswork.

And here’s the kicker: the Reserve Bank of Australia (RBA) is backing us. In July 2025, the RBA proposed an end to surcharges on card payments like eftpos, Visa, and Mastercard — estimating savings of $1.2 billion annually for consumers, and equivalent relief for around 90 per cent of businesses Reserve Bank of AustraliaThe Australian.

What that means:

No more surprise fees when tapping your card.
Clearer, fairer costs for both merchants and customers.
A payments landscape that rewards transparency — exactly what Payee stands for.

With Payee, you’re ahead of the curve — aligned with RBA’s push for simplicity, fairness, and a smarter payments system.

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Eftpos Interchange Rates in Australia

With Payee Eftpos you can design a payment service to suite your business.

Provider	Pricing Model	Typical Fees	Pros	Cons
Payee	Interchange-Plus	Interchange + ~0.15%–0.25%	– Very transparent (true pass-through)- Usually cheaper for debit-heavy businesses- Online + in-person options	– Less predictable month-to-month (since fees vary by card mix)- Less known than big players
Till Payments	Interchange-Plus	Interchange + ~0.20%–0.30%	– Local Aussie provider- Flexible settlement	– Often targets mid-size merchants- Support less mature than banks
Tyro	Blended or Interchange-Plus (on request)	Blended: ~1.1%–1.3%Interchange-Plus: Interchange + ~0.20%	– Well-known in hospitality/retail- Banking license- Easy integration	– Interchange-Plus not always offered to smaller merchants
Fiserv (First Data)	Interchange-Plus (for larger merchants)	Interchange + ~0.10%–0.25%	– Global provider, strong for enterprise	– Not SME-friendly- Contracts + account management required
Square	Flat Rate	1.6% in-person1.9% online	– Very predictable- Simple setup, no contracts	– Expensive for high volume / debit-heavy businesses
Stripe	Flat Rate	1.75% + 30¢ online2.9% + 30¢ international	– Developer-friendly- Advanced online tools	– High fees for small debit transactions
PayPal	Flat Rate	~1.75%–2.6% + 30¢	– Brand recognition, instant trust	– Among the most expensive
Zeller	Flat Rate	1.4% (domestic)2.9% (international)	– Simple, predictable- No monthly fee	– Debit transactions overpay vs interchange-plus
Big 4 Banks (CBA, NAB, ANZ, Westpac)	Mainly Blended (interchange-plus only for big merchants)	~1.1%–1.5% blended	– Trusted names- Can negotiate for large volume	– Opaque pricing- Hard to get interchange-plus unless very high turnover

Quick Takeaways

If you want predictability → Square, Stripe, Zeller, PayPal (but usually more expensive).
If you want lowest cost (esp. if customers use debit cards a lot) → Payee, Till Payments, or Tyro (interchange-plus).
If you’re large volume ($1m+/yr) → Fiserv or the Big 4 can do interchange-plus at very low margins.

In Australia, interchange rates are set and managed by the card schemes (Visa, Mastercard, eftpos, American Express, Diners Club). They’re not set by banks or payment providers — though banks and payment providers add their own margins (merchant service fees) on top.

Here’s how it works in Australia:

1. Who sets interchange rates

Visa & Mastercard → publish their interchange rate schedules for Australian transactions.
eftpos → has its own interchange schedule (separate to Visa/Mastercard).
American Express & Diners Club → traditionally don’t have interchange, but they have “merchant service fees” that function similarly.

2. Who regulates interchange

Reserve Bank of Australia (RBA) sets the rules and caps for interchange.
- For example:
  - Credit card interchange is capped at 0.80% of the transaction.
  - Weighted average for credit card interchange must be 0.50% or less.
  - Debit card interchange is capped at 15¢ per transaction or 0.20% of the value.

3. Where to find interchange schedules

Visa Australia publishes rates here: Visa Australia interchange
Mastercard Australia publishes rates here: Mastercard interchange
eftpos Payments Australia Ltd (ePAL) publishes rates here: eftpos interchange

4. Who “does” interchange in practice

The card schemes (Visa, Mastercard, eftpos, Amex, Diners) set and publish rates.
The RBA regulates and enforces caps.
Banks and payment providers (e.g. CBA, NAB, Westpac, Tyro, Square, Stripe, PayPal) apply those interchange rates in your fees, usually bundled into a “merchant service fee.”

👉 So if you’re asking “who actually does them in Australia” → Visa, Mastercard, eftpos, Amex, Diners set them, and the RBA regulates them.

Do you want me to pull up the current Visa/Mastercard/eftpos interchange rate tables for Australia (2025) so you can see the exact fees?

Got it 👍 — you mean service providers (merchant service providers / payment facilitators) like Payee, Square, Tyro, Stripe, etc.

These companies don’t set the interchange rates (those come from Visa/Mastercard/eftpos and are capped by the RBA), but they:

Pass them through directly (interchange-plus pricing).
- You pay the actual card scheme interchange + their markup.
- Example: interchange 0.30% + provider margin 0.20% = 0.50% total.
- Usually offered by providers who want to be transparent (Payee, Till Payments, Fiserv/First Data, some banks).
Bundle them into a flat rate (blended pricing).
- You pay a single rate (e.g. 1.6% or 1.9%) regardless of the underlying interchange.
- This is common with Stripe, Square, PayPal, Zeller.

Examples of providers in Australia

Payee – Interchange-plus model, very transparent.
Till Payments – Interchange-plus available.
Tyro – Offers both blended and interchange-plus.
Fiserv / First Data – Interchange-plus for larger merchants.
Square / Stripe / PayPal / Zeller – Flat blended pricing (not true interchange-plus).
Major banks (CBA, NAB, Westpac, ANZ) – Usually blended pricing, though large merchants can negotiate interchange-plus.

👉 So if you’re after a service provider “like Payee” that passes through interchange, your main options in Australia are:

Payee
Till Payments
Tyro (if requested)
Fiserv (for bigger businesses)

Would you like me to make you a comparison table of these interchange-plus providers vs flat-rate providers in Australia (fees, pros/cons)?

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