The problem
You don't know your real rate because the statement is confusing.
With Wavepay
With Wavepay there's one rate on every domestic card: 0.89% incl. GST.
Guides
How to cut your merchant fees in four steps.
Most business owners don't know what they really pay for card payments. Here's how to find out in five minutes, and how to pay less.
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
Fees changed and nobody told you.
With Wavepay
Our rate is published on our website for everyone to see.
The problem
Switching sounds like a hassle and a risk.
With Wavepay
Keep your old terminal running until your Wavepay terminal is working.
1. Find your effective rate
Take your last merchant statement. Add up every fee, including rental and monthly fees, and divide by your total card sales. That's your effective rate. Many small businesses find it's well above the headline rate they were quoted.
2. Get rid of fixed fees
Rental, monthly account fees and minimum fees cost the same in a slow month as a busy one. A provider with no fixed fees means you only pay when you sell.
3. Compare like for like
Check whether rates include GST, whether scheme fees are extra, and whether the rate applies to every card or only some. Wavepay's 0.89% includes GST and scheme fees on domestic cards.
4. Switch without downtime
Apply, get your new terminal, test it, then close your old account. Check your old agreement for notice periods and terminal returns first.
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
What is a good merchant fee rate in Australia?
It depends on your size and card mix. Since the surcharge ban, published flat rates from major providers range from under 1% to around 1.6%, and some include monthly rental. Compare your effective rate, including all fees, not just the headline rate.
Do I need to tell customers about my card fees?
You can't surcharge eftpos, Visa or Mastercard any more, so the fee is yours to absorb. That's why a low rate matters.
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)