Westpac, one of four major banking organizations in Australia and one of the largest banks in New Zealand, is making payments easier for small businesses and their customers with the release of its next-generation EFTPOS terminal and simpler pricing for merchant payments.
The new EFTPOS Now smart terminal offers shops, cafes, restaurants, and mobile businesses a simple, portable, and smarter way to accept payments on the go, leveraging the Android platform. Close to 100,000 terminals in Westpac’s existing fleet will be upgraded, replacing EFTPOS 1 and Presto fleets.
Westpac is also introducing a competitive flat-rate option of 1.2% on merchant payments for both in-store and online purchases, plus monthly terminal rental, to help businesses plan for future expenses upfront.
“Businesses have faced every kind of hurdle during the Omicron wave, so we’re rolling out new banking solutions to make it simpler and faster to serve customers, manage their costs, and get back to running their business. Our new lightweight and portable EFTPOS Now terminal makes it easier for businesses to take payments and process them instantly at a chosen time of day to help with cash flow. It’s our smartest device to date,” said Westpac Chief Executive Consumer and Business Banking, Chris de Bruin.