5 Square Alternatives for Australian Businesses

The main Square alternatives in Australia include Tyro for fast settlements and POS integration, Zeller for a modern fintech ecosystem, Stripe Terminal for tech-forward setups, Zettle by Paypalfor simple setups, and Traditional Banks for established reliability.

Here is how they compare based on fees, hardware, and local support. Providers are compared using publicly available information about fees, hardware, settlement, support and integrations. 

Why do Australian Businesses switch away from Square?

Businesses may consider alternatives to Square when their requirements change around transaction pricing, settlement arrangements, customer support, POS integrations or payment hardware.

Square works well for many businesses early on, but as operations grow, common challenges can start to impact performance. 

Limited pricing transparency and lack of custom pricing options may present challenges for growing businesses, making it harder to manage costs and plan for the future. 

Some businesses seek alternatives that offer more comprehensive merchant services and support for secure bank transfers. Let’s explore some of these reasons in more detail. 

High fees on transaction volumes below $250k 

Square’s flat-rate pricing is simple, but as transaction volumes grow, it can quickly become expensive as transaction volumes increase. 

For businesses processing hundreds or thousands of transactions per week, particularly in retail and hospitality, these processing fees may significantly impact margins. 

At this stage, many businesses begin looking for providers that offer more tailored pricing structures, helping reduce costs as they scale. 

Settlement timing and funds availability 

Access to funds isn’t just a convenience, it can play an important role in day-to-day operations. 

Delays in settlement or unexpected payment holds can create real pressure, particularly for businesses that rely on daily cash flow to pay staff, manage stock, or cover supplier costs. Square offers next day transfers and instant transfers for a 1.5% fee.  

Fast, predictable settlements can help businesses operate with confidence, especially during high-volume trading periods. Some providers now support real time payments and instant bank transfers, further reducing delays and helping businesses manage cash flow more efficiently. 

Lack of dedicated, 24/7 support 

When something goes wrong with your EFTPOS machine, you don’t have time to wait. 

For many businesses, even a short disruption to payment processing can result in lost revenue and frustrated customers. 

That’s why access to reliable, readily available support becomes a key factor when considering alternatives. 

What to look for in a Square alternative

Choosing the right alternative isn’t just about switching providers, it’s about improving how your business takes and manages payments day to day. 

Here are the key factors to consider: 

• Pricing structure 
  Look beyond flat-rate pricing. Consider tailored rates, transaction fees, monthly fees, and any hardware costs or rental fees. 
  
• Settlement speed 
  Faster access to funds improves cash flow and reduces financial pressure. 
  
• Customer support 
  Reliable, local support can make a significant difference when issues arise. 
  
• POS integrations 
  Ensure compatibility with your existing POS system, accounting software, and ecommerce platforms. 
  
• Hardware flexibility 
  Consider whether you need portable terminals, countertop devices, or multiple EFTPOS machines across locations. 
  
• Scalability 
  Choose a provider that can support your business as it grows, adds staff, or expands sales channels. 
  
• Advanced features 
  Look for inventory management, stock tracking, reporting tools, loyalty programs, and team management features. 
  
• Payment options 
  Make sure you can accept payments via Apple Pay, Google Pay, contactless, chip and PIN, and corporate cards. 

Best Square alternatives in Australia 

Tyro 

Tyro is an Australia based EFTPOS providers, designed specifically for businesses that have outgrown basic POS solutions and need something more scalable, reliable, and tailored to their operations. 

Tyro differentiates its offering through features including same-day settlement options with a Tyro Transaction Account, POS integrations and EFTPOS solutions for different business environments.

Key strengths: 

• Same-day settlements ¹ to a Tyro Transaction Account ², supporting cash flow 
• Strong POS integrations across retail, hospitality, and healthcare 
• Australian-based general support 7am–9pm, 7 days, with 24/7 emergency support for critical issues
• EFTPOS machines for countertop, portable, and multi-location setups 
• Flat-rate and custom pricing options, depending on business needs 

Tyro is particularly well suited for: 

• Hospitality businesses needing fast payments, split bills and discreet tipping
• Retail businesses managing inventory and in-store and online channels
• Healthcare providers requiring reliable payment processing and built-in claiming

For businesses processing higher volumes or operating across multiple locations, Tyro provides a more complete and scalable payment solution compared to entry-level POS systems. 

Zeller 

Zeller is a modern Australian fintech offering a simple, all-in-one POS solution. 

Key strengths: 

• Clean, user-friendly interface 
• Combined EFTPOS terminal, business account, and card 
• Fast setup for small businesses 

While Zeller offers a simple all-in-one solution, its ecosystem is still evolving compared to more established providers. Businesses with more complex needs may want to compare POS integrations, settlement options and industry-specific features before making a decision.  

Stripe Terminal 

Stripe Terminal is designed for businesses that want to connect online payments with in-person payments. 

Key strengths: 

• Strong integration with ecommerce platforms 
• Developer-first flexibility 
• Advanced API capabilities 

It’s ideal for tech-forward businesses but may require more setup and technical resources compared to plug-and-play POS systems. 

Zettle by Paypal 

Zettle by Paypal is a popular entry-level POS system for small businesses. 

Key strengths: 

• Quick setup and onboarding 
• Familiar PayPal ecosystem 
• Easy way to start accepting payments 

However, businesses with more complex needs may prefer providers with a wider range of POS integrations or more specialised features. 

Traditional Banks (e.g. CommBank, NAB) 

Traditional banks provide EFTPOS machines backed by established financial institutions. 

Key strengths: 

• Trusted providers with strong reputations 
• Reliable infrastructure 
• Integration with existing bank accounts 

Potential downsides include less flexible contracts, slower innovation, and higher monthly rental fees or hardware costs. 

As businesses scale, differences in pricing flexibility, support, and integration capabilities become increasingly important. 

Is it easy to switch from Square to a new provider? 

Switching from Square to a new provider is typically straightforward. 

One of the biggest concerns businesses have when switching providers is downtime but with the right setup, this can be minimised. 

Key steps to switching 

1. Choosing the right provider 
2. Setting up your EFTPOS terminal and payment processor 
3. Integrating with your POS system or accounting software 
4. Training staff on the new system 

Many businesses run both systems in parallel during the transition, ensuring they can continue accepting payments with minimal disruption. 

Here are 10 things to consider when switching EFTPOS providers. 

Which Square alternative is right for your business?

The right choice depends on your business size and operational needs: 

• Startups and small businesses 
  Focus on simplicity and quick setup (e.g. Zettle by Paypal) 
  
• Growing businesses 
  Prioritise scalability, integrations, and support (e.g. Tyro, Zeller) 
  
• High-volume merchants 
  Focus on cost efficiency, settlement speed, and performance (e.g. Tyro, banks) 

For businesses moving beyond a basic POS system, choosing a provider that supports growth and operational efficiency becomes critical. 

Final thoughts 

Square has played an important role in helping many Australian small businesses get started with accepting card payments. 

But as your business grows, your payment solution needs to evolve with it. 

Switching to a more advanced provider may help you: 

• Reduce transaction costs 
• Support cash flow with faster settlements 
• Access better support when you need it most 
• Unlock more advanced POS features and integrations 

The key is choosing a provider that fits how your business actually operates, not just where it started. 

If you’re comparing Square alternatives, consider how each provider’s pricing, settlement options, integrations, hardware and support align with your current requirements and expected growth. Tyro is one option for Australian businesses looking for an integrated EFTPOS solution ³.