What to Consider When Switching to EFTPOS

• Fast, reliable transaction processing
• Real-time reporting and mobile access

• Support for all payment types

• Industry-specific features

• Strong security and PCI compliance

• Easy setup with minimal downtime

• 24/7 local support

• Scalability for future growth

Switching EFTPOS providers is often part of reviewing and optimising your payment setup as your business changes.

Businesses may consider switching when they experience:

• High or unclear transaction fees eating into profit margins

• Slow or unreliable payment processing affecting customer experience

• Limited integration with existing POS systems and business tools

• Lack of modern features such as mobile wallet and contactless payments

• Poor customer support or long resolution times during critical trading hours

As your business grows or evolves, your EFTPOS solution should keep up. Switching providers could help reduce costs, improve efficiency, and deliver a smoother checkout experience.

If you’re experiencing any of the above, it may be time to review whether your current EFTPOS solution is still fit for purpose.

If you’re considering switching providers, these are some key areas to evaluate.

Not all pricing models are easy to understand.

Some providers may advertise lower rates but include additional or conditional charges, such as:

• Set up or onboarding fees

• Monthly minimum charges

• Higher fees for certain card types or international payments

Before switching, make sure you:

• Review the full fee breakdown

• Understand how fees vary by transaction type

• Check for any hidden or conditional charges

Clear, transparent pricing may help you avoid unexpected costs and manage your cash flow more effectively.

For businesses that serve international customers, dynamic currency conversion can be a valuable feature.

It allows customers to pay in their home currency, which may:

• Improve the customer experience 

• Provide pricing transparency 

• Provide another payment option for international cardholders 

This is particularly useful in tourism-heavy or high-traffic locations.

Your EFTPOS solution should be able to integrate with your existing tools, especially your point of sale (POS) system.

Strong POS integration is important for efficient operations.

Look for providers that enable:

• Elimination of double entry and reduced keying errors

• Improved reconciliation accuracy and time savings

• Real-time transaction reporting

• Consistent inventory tracking

• Reduced risk of manual data entry mistakes

This may be particularly useful for multi-location businesses, where consistency and centralised reporting are critical.

From a technical perspective, you may also want to consider:

• Connectivity options (Ethernet, WiFi, 4G/5G)

• Backup connectivity in case of outages

• Data centre reliability and uptime

Transaction speed can influence how quickly customers move through checkout.

Transaction speeds for EFTPOS should be as quick as possible so that queues keep flowing.

On top of that, 75% of Tyro customers say Tyro helps them serve more customers, more quickly ¹, and 80% say they experience fewer payment processing errors ².

This is a key EFTPOS feature that can get overlooked. The best EFTPOS solutions come with enhanced transaction reporting features that gives you insights and helps you run your business better. Look for features such as:

• Transaction history and search functionality

• Data segmentation by location, time, or terminal

• Reconciliation reports

• Multi-user access

Mobile app access is equally important, allowing you to:

• Monitor sales on the go

• Track performance remotely

• Manage multiple locations from one place

Your EFTPOS machine should align with how your business operates.

Customer payment preferences are evolving rapidly.  

Your EFTPOS terminal should be able to support:  

• Debit and credit cards 

• Contactless payments 

• Mobile wallets (Apple Pay, Google Pay, Samsung Pay) 

• International payment options (e.g. UnionPay, Alipay) 

Offering a range of payment options may help support customer convenience at checkout. 

Not all EFTPOS solutions are built the same and what works for one business may not work for another. The right provider should offer features tailored to how your business operates, helping you serve customers more efficiently and reduce friction at checkout.

For example:

Hospitality

• Pay at the table and split billing ³

• Tipping

• Tab management

Retail

• High-volume transaction handling

• POS integration that can support inventory management

• Fast checkout experiences

Healthcare

• Medicare Easyclaim ⁴

• Health fund claiming

• Fast rebate processing

Choosing a provider with EFTPOS features aligned to your business type may help support more efficient operations.

Security and support are important considerations when selecting an EFTPOS provider.

Secure payment processing protects both your business and your customers.

Look for:

• PCI compliance

• End-to-end encryption

• Fraud detection systems

• User authentication controls (PINs, permissions)

Strong security reduces the risk of data breaches and builds customer trust.

Switching providers shouldn’t disrupt your business. Before switching, consider:

Setup requirements

• Hardware installation (cables, placement)

• Connectivity (WiFi, Ethernet, 4G)

• POS/PMS compatibility

Ease of use

• Clear setup instructions

• Ability to customise features (e.g. tipping, table service)

• Staff training requirements

The goal is a smooth transition with minimal downtime so you can continue accepting payments without interruption.

Downtime means lost revenue, so support matters.

Look for providers that offer:

• 24/7 local support

• Fast response times

• Access to real payment specialists

• Ongoing support as your business grows

Reliable support ensures issues are resolved quickly, keeping your business running smoothly.

When comparing EFTPOS providers, use this simple checklist:

• Does it integrate with your POS system?

• Are fees transparent and competitive?

• Is transaction processing fast and reliable?

• Does it support all required payment types?

• Are reporting and insights easy to access?

• Is support available when you need it?

If you’re actively switching, it’s also worth comparing providers directly.

Switching EFTPOS providers can be straightforward but planning is key.

Typical steps include:

• Choose your new EFTPOS provider

• Order and set up your new payment terminal

• Test transactions and integrations

• Confirm reporting and reconciliation processes

• Cancel your existing contract (check notice periods, hardware return policies and break fees)

Running both systems in parallel during the transition may help minimise risk.

Before making the switch, ask:  

• Will this integrate with my POS or PMS system?  

• What are the total costs (not just headline rates)?  

• What happens if the system goes down?  

• How fast are transactions processed?  

• What support is available if something goes wrong?  

Switching to the right EFTPOS provider could help reduce costs, improve reliability, and deliver a smoother payment experience for your customers.  

With transparent pricing, fast transaction processing, and seamless POS integration, Tyro is designed to support Australian businesses at every stage of growth.