Westpac
$214/mo est.
- In-person rate
- 1.2%
- Online rate
- 1.4%
- Monthly fee
- $24.75/mo
- Terminal cost
- $24.75/mo rental
- Contract length
- No lock-in
- Settlement time
- Instant
- Est. monthly cost
- $214/mo
Westpac
Westpac merchant services including EFTPOS Air for soft-POS payments.
- In-person rate
- 1.2%
- Online rate
- 1.4%
- Monthly fee
- $24.75/mo
- Contract
- No lock-in
Best for
Westpac business customers and tradies needing phone-based acceptance.
Pricing breakdown
All prices in AUDLast verified 13 June 2026Every fee we track, grouped by where it applies.
In-person payments
EFTPOS terminal and tap-to-pay transactions.
- Transaction rate
- 1.2%
1.2% flat rate for EFTPOS Now/Flex/Connect. EFTPOS Air app is 1.4% with no monthly fee. Currently offering $0 merchant fees for 3 months for new customers.
- Monthly fee
- $24.75/mo
Terminal rental.
- Terminal cost
- $24.75/mo rental
- Setup fee
- Free
Online payments
Online checkout and keyed-in card transactions.
- Transaction rate
- 1.4%
Westpac OnlinePay: flat 1.4% for eftpos, Mastercard, and Visa, with no monthly fee. Amex and JCB are accepted under separate agreement.
- Monthly fee
- $24.75/mo
Terminal rental.
- Setup fee
- Free
Other fees
- Chargeback fee
- AMEX rate
- 1.2%
Included in the 1.2% flat rate.
- International card surcharge
- Early termination fee
- None
No lock-in contract.
- Instant payout fee
- Instant
Instant settlement to Westpac accounts.
- Refund fee
- PCI compliance fee
Contract terms
- Contract length
- No lock-in
- Settlement time
- Instant
Instant settlement available with a Westpac business account.
- Least-cost routing
- Yes
- Recurring billing
- Yes
Accepted payment methods
Cards, wallets, and other methods supported by Westpac for Australian merchants.
Cards
- Visa
- Mastercard
- EFTPOS
- AMEX
- UnionPay
- JCB
- Diners Club
Digital wallets
- Apple Pay
- Google Pay
- Samsung Pay
Strengths and trade-offs
Pros
- EFTPOS Air requires no hardware
- Big Four bank backing
Cons
- No public pricing
- Application and onboarding slower than fintech alternatives
About Westpac
Westpac offers traditional EFTPOS terminals and EFTPOS Air, a soft-POS solution that turns a compatible smartphone into a card reader. Pricing is custom-quoted.
Westpac was founded in 1817 and is headquartered in Sydney, Australia.
How Westpac compares
Side-by-side with the closest alternatives by estimated cost.
Assumes $15,000/mo volume, $50 average transaction, 70% in-person and 30% online.
Bendigo Bank
$229/mo est.
- In-person rate
- 1.4%
- Online rate
- 1.4%
- Monthly fee
- From $19/mo
- Terminal cost
- From $19/mo rental
- Contract length
- No lock-in
- Settlement time
- Next business day
- Est. monthly cost
- $229/mo
NAB
$231/mo est.
- In-person rate
- 1.15%
- Online rate
- 1.4% + $0.25
- Monthly fee
- $25/mo
- Terminal cost
- $25/mo rental
- Contract length
- No lock-in (60 days notice)
- Settlement time
- Next business day
- Est. monthly cost
- $231/mo
SumUp
$242/mo est.
- In-person rate
- 1.4%
- Online rate
- 2.1%
- Monthly fee
- Free
- Terminal cost
- From $24
- Contract length
- No lock-in
- Settlement time
- Next business day
- Est. monthly cost
- $242/mo
Common questions about Westpac
The same questions Australian merchants ask before signing up.
Westpac does not publish standard transaction rates for merchant services. All pricing is provided via a custom quote based on your business profile and banking relationship.
EFTPOS Air is Westpac's tap-to-phone soft POS solution that turns a compatible Android smartphone into a card reader with no physical hardware required. It is well suited to mobile merchants and tradies who do not want to carry a separate terminal.
Westpac offers Merchant Choice Routing for eligible contactless debit card transactions. Contact your Westpac relationship manager to activate it, as the feature is not enabled by default for all accounts.
Westpac settles to Westpac business accounts on a standard schedule. Settlement timing to non-Westpac accounts may differ. Confirm your expected settlement schedule as part of the merchant application process.
Contract length and exit terms are set individually and are not published publicly. Confirm minimum term, terminal rental obligations, and any early termination provisions before signing.
Westpac merchant services are best suited to existing Westpac business banking customers, particularly those who value Big Four backing and branch support. Tradies and mobile merchants may find the EFTPOS Air no-hardware option appealing. Businesses that prioritise transparent pricing or instant digital onboarding are typically better served by flat-rate independent providers.
We may earn a commission when you click through to a provider. This never affects ranking or data shown. Read our terms.
Work at Westpac? Claim this listing
Compare Westpac
Compare Westpac against every other Australian provider on price, contract terms, and features.