EFTPOS for New Businesses
Getting EFTPOS right from day one
EFTPOS (Electronic Funds Transfer at Point of Sale) is the most common way Australians pay in-store, whether it’s by inserting their card, tapping a phone, or using a watch. For new businesses, offering EFTPOS isn’t just about keeping up with customer expectations – it’s about ensuring you can take payments quickly and reliably, while reducing the risks of handling cash. Tyro’s EFTPOS machines accept all major cards and digital wallets, so you never have to turn a customer away. You also get fast, secure transactions and integrated banking options, which means less time reconciling and more time serving customers.
EFTPOS systems are also often paired with POS systems that handle inventory, pricing, bookings, and the industry-specific tasks a business needs to manage. Many new businesses start without one but soon find that a POS becomes essential for growth. By choosing an EFTPOS provider like Tyro that integrates seamlessly with POS, you’ll save time, reduce errors, and be ready to scale when your business does.
75% of Tyro customers say it helps them serve more customers, more quickly 1.
How quickly can I get paid?
In your first year, cash flow is everything. Waiting two or three business days for EFTPOS settlements can make it harder to pay staff, cover supplier invoices, or reinvest in your business. The Tyro Transaction Account solves this with 7-day settlements 2 – meaning you get your takings the same day, every day, including weekends and public holidays.
This gives you the flexibility to order more stock on the spot, respond to seasonal demand, and keep your team paid on time without dipping into personal funds.
74% of customers agree that getting their daily takings paid into their account same day, 7 days a week is a big help to their business 3.
What will it cost me?
When you’re just starting out, every dollar saved counts. Some providers lock you into long contracts with high monthly fees, setup costs, or cancellation penalties.
With Tyro, you get no setup fees, no lock-in contracts, and customised pricing. You can also choose a plan that suits your volume and adjust as you grow, ensuring your payment solution stays cost-effective.
Almost 90% of customers who switched to Tyro say it made the process easy 4
Can I connect EFTPOS to my POS?
Manually entering amounts into both your POS and EFTPOS machine slows service and increases the risk of errors. Tyro integrates with over 450+ POS systems, so your EFTPOS terminal connects seamlessly with the tools you already use to run your business.
This integration speeds up transactions, reduces keying mistakes, and ensures accurate reporting – freeing you to focus on the customer experience instead of admin.
80% of Tyro customers say working with Tyro means they experience fewer payment processing errors 5.
Is the setup complicated?
Delays at launch can mean lost revenue and frustrated customers. Tyro’s application process is quick, and once approved, your terminal arrives ready to use. You’ll also have access to customer support 7 days a week from our Australian-based team who understand your industry.
That means you can get started without downtime and have peace of mind knowing help is there when you need it.
Almost 90% of customers that switched to Tyro say it made the process easy 4.
From 1 to 5-star service: Thornleigh Squash & Fitness
When Rex took over, payments were messy – manual entries, dropouts, and hours wasted on admin. By switching to Tyro, EFTPOS now integrates seamlessly with their POS, making transactions smooth and reporting simple. That means less time on admin and more time growing the club and connecting with members.
Next steps
- Shortlist EFTPOS providers with same-day settlements 2
- Check POS compatibility before committing
- Avoid long-term contracts with costly exit fees
Ready to grow your business?
Switch to Tyro today.
Get the help you need