How do I reduce my card transaction fees?

As more customers in Australia choose to pay using EFTPOS, you may have to pay more in debit and credit card transaction fees. The more you know about reducing these fees, the better.

Know how customers pay

As a first step, you should know how your customers prefer to pay.

If you’re a Tyro customer, you can do this in the Tyro Portal. Download your latest invoice – this lists the mix of cards your customers use and shows you how much it costs to accept each card type.

Rate strategies

Once you have an idea of the mix of cards your customers like to use, then you can start thinking strategically about how to reduce fees.

For example, if you use Tyro and your customers love contactless payments, then you can reduce your fees by using Tyro Tap & Save *.

Tyro’s Tap & Save processes contactless debit card transactions through the lower cost network for transactions less than $1,000. This means you’ll be charged a lower rate for the transaction – reducing your merchant service fees.

Recover fees with surcharging

You can add an additional charge to the customer’s transaction to cover most or a portion of the cost of processing credit and debit card payments.

Just remember that surcharging is regulated, and you’re not allowed to add a surcharge that’s greater than the cost of accepting a payment by credit or debit.

That’s why we have provide a handy Cost Of Acceptance calculator that helps you determine what is a reasonable surcharge.

With Tyro, not only can you set and apply a surcharge for most cards, you can feel comfortable in doing so.

Surcharging is available for Mastercard, Visa, eftpos, UnionPay, American Express, JCB, and Diners Club.

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