The problem
You used to pass the card fee on to customers. Now you pay it all.
With Wavepay
A lower flat rate means less comes out of every sale: 0.89% incl. GST.
Guides
You can't surcharge anymore. So lower the fee.
Since 1 October 2026, Australian businesses can't add a surcharge to eftpos, Visa or Mastercard payments. Every card fee now comes straight out of your margin. Here's what changed and what you can do about it.
Verifone V660p
Android smart terminal with 4G and Wi-Fi
PCI PTS 7.x
approved payment hardware
No lock-in
contracts or exit fees
Melbourne-based
real people on email, 7 days
The problem, and the fix
What's costing you, and how Wavepay fixes it.
The problem
You're not sure what you can still charge customers for.
With Wavepay
With a low flat rate you don't need to: Wavepay is built for the no-surcharge world.
The problem
Your bank rate plus rental now hits harder than ever.
With Wavepay
No rental and no monthly fees, so your only cost is the rate.
What changed on 1 October 2026
Following the Reserve Bank's review of card payment costs, surcharging on eftpos, Visa and Mastercard payments ended on 1 October 2026. It covers debit, credit and prepaid cards on those networks. American Express and buy now, pay later services sit outside the ban for now. Interchange fee caps were also lowered.
What you can do
You can't pass the fee on, so the only lever left is the fee itself. Check your effective rate on your last statement (total fees divided by total card sales), add any rental, and compare. Raising prices slightly is another option many businesses are weighing.
How Wavepay helps
One flat rate of 0.89% including GST, a free terminal and no monthly fees. Use the calculator below to see how it compares with other no-monthly-fee options.
The terminal
This is the one you get.
Every Wavepay business is set up on the Verifone V660p. It is yours for free with no rental, no setup fee and no monthly fee, and we swap it at no cost if your business needs change.
- 5.5" HD touchscreenAndroid smart terminal
- 4G and dual-band Wi-Fiautomatic 4G backup
- Tap, insert, swipe and QRplus mobile wallets
- PCI PTS 7.x approvedbuilt-in receipt printer
Product images supplied by Verifone. The payment screen shown is an illustration of the Wavepay checkout.
Savings calculator
See what you could save.
Enter your monthly card sales. We compare Wavepay with other EFTPOS options that charge no monthly terminal fee.
Compared with EFTPOS options that charge no monthly terminal fee, using published rates for eftpos, Visa and Mastercard as at November 2026. Providers that charge monthly terminal rental may offer lower transaction rates. Wavepay's rate includes GST.
| No monthly fee | Rate | Per month |
|---|---|---|
| Square | 1.6% | $320 |
| Zeller | 1.4% | $280 |
| Tyro | 1.3% | $260 |
| Westpac EFTPOS Air | 1.25% | $250 |
| CommBank Smart Mini+ $59 to buy | 0.99% | $198 |
| Wavepay | 0.89% | $178 |
You could save up to
$1,704
a year with Wavepay
Common questions
Can I still surcharge credit cards?
Not on eftpos, Visa or Mastercard cards, including credit, debit and prepaid, from 1 October 2026. American Express and buy now, pay later services are outside the ban for now, but check your agreements and get advice for your situation.
Can I add a surcharge on weekends or public holidays?
Surcharges not linked to how the customer pays, such as a public holiday surcharge, are a separate issue from card surcharging. Make sure any such fee is clearly displayed and follows consumer law.
How much will absorbing card fees cost me?
Multiply your monthly card sales by your effective rate. At $20,000 a month, the difference between 1.6% and 0.89% is $142 a month, or $1,704 a year.
Related
Get started
Get your free terminal.
Tell us about your business and a Melbourne-based specialist will come back to you within one business hour with next steps.
- Melbourne, VIC
- sales@wavepay.com.au
- Mon to Sun, 8am to 8pm (Melbourne time)