You’re probably already sold on all the reasons why offering EFTPOS payments could boost your business.

In an increasingly cashless society, the ability to accept payment via EFTPOS speeds up transactions, results in fewer lost sales and encourages more impulse purchases – all while creating a more professional impression of your business to customers.

But while you might be armed with all that knowledge and ready to go, the big question is, where should you go to get your EFTPOS device?

Sure, approaching a mainstream bank might seem like the obvious way to go, but a specialist SME product such as Live eftpos will be tailored to your small businesses, helping you to get maximum bang for your buck. So, here are a few ways our payment solutions outperform the banks every time.

The personal touch

Banks can’t offer a personalised service to every customer, but you can rest assured you’ll never be “just a number” when you join us. Unlike banks that operate generic support teams, one of our dedicated relationship managers will quickly get to grips with your specific business needs.

At all times, you’ll have peace of mind your named relationship manager is on hand to provide support and assistance wherever it’s needed. What’s more, they’ll be trained to proactively assess your business success and offer suggestions to improve performance as well as other complimentary Live group products that could help achieve your business goals.

Earn Qantas Points

You’ll be able to tap into our partnership with the Qantas Business Rewards programme with your Live eftpos device. No bank offers business owners a payment solution which offers the opportunity to earn uncapped Qantas Points redeemable on flights, flight upgrades and a range of products you could use for your business.

Your customers can choose their payment type without giving you hassle

There are many reasons why customers want to choose a specific payment type, whether it’s the added convenience and security of Apple Pay and Google Pay or the reward points and purchase insurances offered by various credit card providers. Yes, it’s entirely possible you could lose a sale or two by refusing to accept a payment type.

Unlike a bank, we will enable your business to accept over 11 different types of payment and better still, without the headache of dealing with multiple providers. Banks usually charge extra fees for additional payment types, but they’re all included when you sign up for Live eftpos.

In practice, we will be your single point of contact should a customer query a transaction or raise a chargeback for any payment type. Meanwhile, all transactions are settled at the same time and our comprehensive reports will provide you with accurate details of each transaction type.

Fees are minimal (and upfront)

Most banks have an exit fee and other hidden fees such as set up costs and an annual fee. Sometimes, banks also apply a “one-size-fits-all” approach with fixed monthly rental fees and transaction processing fees – irrespective of your turnover.

At Live eftpos, we have no exit fees, annual fee, or set up costs while our rental fees and processing fees are based on your business’ transaction volume and other individual factors.

You’ll know where you stand with simple transaction pricing

With a bank, the amount you’re going to pay for each EFTPOS transaction can be unpredictable and tricky to understand – and here’s why.

The interchange fee, which is paid to your customers’ card issuing bank to cover the risks of approving a payment, varies between credit brands (such as Visa® and Mastercard®) and is also determined by things like region and entry method. Most banks then use a complex pricing model called Interchange Plus to apply a fixed mark-up to each interchange fee.

We at Live eftpos use a blended pricing structure, which means you’ll pay a flat percentage rate for every transaction. Aside from removing all the guess work, it works to your business’ advantage because we consider a range of individual factors to determine a rate that’s competitive and fair for your business. These might include your existing interchange fees or merchant fees, business type, transaction volume, and sometimes your business’ location.

Compared to a bank, our EFTPOS solutions make it easier to apply any transaction surcharges you think are appropriate.

Enjoy the flexibility your business needs with no lock-in contract

As an SME, your needs can sometimes change very quickly which is why we won’t apply an exit fee if you decide at any time your payment solution is no longer right for you. On the other hand, banks are likely to ask you to sign up for a minimum contract period before receiving your EFTPOS device.

So, don’t jump in with both feet. If you’ve made the decision to integrate EFTPOS into your business, find out how Live eftpos can ensure you really get the most out of your experience by contacting us today.

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Sam Edmond

Sam Edmond is Digital Marketing Director for Live group. His digital marketing experience includes roles in Auckland, London, and Sydney. Sam is a Kiwi and supports Arsenal F.C.