The problem
Dozens of line items: interchange, scheme fees, card types.
With Wavepay
With Wavepay, one rate covers every domestic card: 0.89% incl. GST.
Guides
What are you really paying? Read your statement in five minutes.
Merchant statements are full of codes, card types and fees that are hard to check. Here's how to cut through it and find the one number that matters.
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
The headline rate you were quoted isn't what you pay.
With Wavepay
No extra scheme fees, rental or monthly fees on top.
The problem
No way to tell if you're getting a fair deal.
With Wavepay
Use your effective rate to compare, with our calculator below.
Step 1: find your total fees
Add up every fee on the statement for the month: transaction fees, scheme fees, terminal rental, account or minimum fees and any other charges. Include GST.
Step 2: find your total card sales
This is usually shown as total processed, total transactions or total sales for the period.
Step 3: work out your effective rate
Divide total fees by total card sales and multiply by 100. For example, $380 in fees on $20,000 of sales is an effective rate of 1.9%.
Step 4: compare
Your effective rate is the fairest number to compare providers with. Wavepay's is simply 0.89%, because there are no other fees on domestic cards.
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 an effective rate?
Your total card fees for a month divided by your total card sales, shown as a percentage. It includes every fee, not just the headline rate.
Is my effective rate high?
Since the surcharge ban, many published flat rates sit between under 1% and around 1.6%. If yours is well above that, it's worth comparing.
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)