Running a business in Australia today without EFTPOS is like running a café without coffee. It just doesn’t work as well. Indeed, with the rise in cashless transactions, tap-and-go cards, and mobile payments, not having an EFTPOS machine in your establishment can have a negative effect on how customers view it.
However, while many business owners are aware of the need to incorporate such a payment system into their infrastructure, some of them are still unclear about how to go about doing so.
With that in mind, this checklist will highlight the steps you need to take to get EFTPOS up and running smoothly within your operation. From choosing the right provider to training your team, there is a lot more to it than you might think.
Step 1: Understand Your Business Needs
The first step in setting up EFTPOS is understanding exactly what your business needs. To do this, you should think about your operating environment.
For instance, are you a café with a high volume of quick transactions, or a tradie who needs to take payments on the go? Do you work from a fixed location or need something portable? Are you open long hours or just a few days a week?
Knowing the answers to these questions will help you choose a system that fits your day-to-day operations. The last thing you’ll want is to get locked into a setup that doesn’t match how you actually work.
Step 2: Choose the Right EFTPOS Provider
Once you know what your business needs, you can set about finding a suitable EFTPOS provider.
There are plenty out there, from big banks like ANZ and Westpac to third-party options like Smartpay, Square, and Zeller. So, it is worth doing your due diligence to establish which one meets your budget, business type, and the level of support you need.
Among them, Smartpay is an EFTPOS machine provider you should seriously consider, as they offer tailored solutions for Aussie businesses of all sizes.
However, when deciding between providers, don’t just look at the fees they charge. Instead, consider factors like how flexible their contracts are, the types of terminals they offer, their reputation for customer support, and how quickly payments settle into your account.
Some providers offer great rates but lock you into long-term contracts or charge high fees for refunds and chargebacks.
Step 3: Decide Between Mobile and Fixed Terminals
When you find your provider, you must decide whether you want to procure a mobile or fixed terminal from them.
Where you do most of your selling will help determine which one you need. For instance, a mobile EFTPOS terminal is ideal for businesses that operate at markets, on job sites, or offer delivery services. These terminals usually connect via 4G or Wi-Fi and are battery-powered.
By contrast, a fixed or countertop EFTPOS machine is better suited to traditional retail stores, salons, and cafés where payments happen in one place. They usually offer faster processing and a sturdier setup, perfect for high-volume environments.
Step 4: Check for Integration with Your POS System
If you already use a point-of-sale (POS) system, it’s important that your EFTPOS terminal integrates with it. This means you won’t need to enter the sale amount twice. In other words, once into the register and again into the card machine.
Such integration improves speed and accuracy at the checkout, helps manage inventory in real time, and simplifies end-of-day reporting. Unfortunately, not all EFTPOS machines work with all POS systems, so make sure you double-check compatibility before signing a contract.
Step 5: Understand Fees and Charges
EFTPOS services involve a cost, so you will need to take the time to fully understand what they are. For instance, depending on the provider, you might pay a setup fee, a monthly terminal rental, and transaction fees for each card payment you accept.
These transaction fees can vary depending on the card type, i.e. Visa, Mastercard, or Amex, and whether the card is tapped, inserted, or swiped. Various other technologies can reduce the costs.
Some providers bundle their fees into one flat rate, while others have tiered pricing. It is important to study these clearly to appreciate how they will add up over the months. At the same time, watch out for hidden costs like chargeback fees and early termination fees, which can potentially rack up.
Step 6: Ensure Internet and Connectivity Requirements Are Met
EFTPOS machines need a reliable internet connection to successfully process payments. Many use Wi-Fi, some rely on a 4G SIM, and others connect via Ethernet. The best setup for you will depend on your business location and how consistent your internet connection is.
It is worth double-checking that your EFTPOS terminal has a fallback plan just in case the network goes down. Some machines can store transactions offline and process them once the connection is restored. This ensures your business doesn’t grind to a halt when the Wi-Fi drops out.
Step 7: Review Security and Compliance
Accepting card payments means dealing with sensitive financial data, so it is vitally important to determine that the system’s security is up to scratch. Any EFTPOS provider you choose should be PCI DSS compliant, which means they follow strict data security standards set by the Payment Card Industry.
Features like end-to-end encryption, secure tap-and-go, and regular software updates should be available to protect against fraud and cyber threats.
Step 8: Organise Training for Staff
It’s important that your team knows how to use the EFTPOS system properly. Even if the machine seems simple to operate, things like refunds, split bills, and error messages can confuse staff who are unfamiliar with the process.
It is worth organising a short training session before going live, which your provider usually manages either through an in-person demonstration, support guides or video tutorials.
Step 9: Test Before Going Live
Before you accept your first customer payment, run through a few test transactions. In particular, you should make sure the EFTPOS terminal is connecting properly, that receipts print (or email) correctly, and that funds are settling into your account as expected.
It is also worth checking that staff can handle refunds, and that the daily settlement report matches your POS.
Step 10: Promote Your New Payment Option
Once your EFTPOS system is up and running, let your customers know!
Put up clear signage at the counter that you accept card payments, including tap-and-go and mobile wallets like Apple Pay and Google Pay.
