Westpac
$163.95/mo est.
- In-person rate
- 0.79%
- Online rate
- 1.25%
- Monthly fee
- $24.75/mo
- Hardware cost
- $24.75/mo rental
- Contract length
- No lock-in
- Settlement time
- Instant
- Est. monthly cost
- $163.95/mo
Westpac
Westpac is a Big Four Australian bank offering merchant services through EFTPOS terminals, the EFTPOS Air phone app and OnlinePay, with published flat card rates and a monthly terminal rental.
Best for
Westpac business customers and tradies needing phone-based acceptance.
- In-person rate
- 0.79%
- Online rate
- 1.25%
- Monthly fee
- $24.75/mo
- Contract
- No lock-in
Pricing breakdown
Every fee we track, grouped by where it applies.
In-person payments
EFTPOS terminal and tap-to-pay transactions.
- Transaction rate
- 0.79%
Cut from 1.2% effective 1 Oct 2026: "reducing the flat transaction rate from 1 October 2026, following recent RBA reforms." EFTPOS Air app rate and the $0-fee new-customer offer not separately re-verified at this cutover. Source: westpac.com.au/business-banking/merchants-and-payments/, read 2026-10-01.
- Monthly fee
- $24.75/mo
Terminal rental.
- Hardware cost
- $24.75/mo rental
- Setup fee
- Free
Online payments
Online checkout and keyed-in card transactions.
- Transaction rate
- 1.25%
Westpac OnlinePay cut from 1.4% to 1.25% flat for eftpos, Mastercard and Visa effective 1 Oct 2026 following the RBA reforms, no monthly fee. Amex and JCB are accepted under separate agreement. Source: westpac.com.au/business-banking/merchants-and-payments/, read 2026-10-01.
- Monthly fee
- $24.75/mo
Terminal rental.
- Setup fee
- Free
Other fees
- Chargeback fee
- AMEX rate
- Separate Amex agreement
Westpac does not publish an Amex rate: American Express bills it directly under a separate application that also covers JCB. Read at source 2026-08-20.
- 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
How Westpac compares
All prices in AUDPrices checked
Side-by-side with the closest alternatives by estimated cost.
Based on $15,000/mo card volume at a $50 average transaction, 70% in person and 30% online.
NAB
$216.25/mo est.
- In-person rate
- 1.05%
- Online rate
- 1.30% + $0.25
- Monthly fee
- $25/mo
- Hardware cost
- $25/mo rental
- Contract length
- No lock-in (60 days notice)
- Settlement time
- Next business day
- Est. monthly cost
- $216.25/mo
SumUp
$241.50/mo est.
- In-person rate
- 1.4%
- Online rate
- 2.1%
- Monthly fee
- Free
- Hardware cost
- From $49
- Contract length
- No lock-in
- Settlement time
- Next business day
- Est. monthly cost
- $241.50/mo
Zeller
$248.25/mo est.
- In-person rate
- 1.4%
- Online rate
- 1.75% + 25c
- Monthly fee
- Free
- Hardware cost
- From $99
- Contract length
- No lock-in
- Settlement time
- Next business day
- Est. monthly cost
- $248.25/mo
Common questions about Westpac for payment providers
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.
Strengths and trade-offs
Pros
- EFTPOS Air requires no hardware
- Published flat in-person and online rates
- Big Four bank backing
Cons
- Monthly terminal rental on top of the rate
- Application and onboarding slower than fintech alternatives
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
Other
- PayTo
About Westpac
Westpac offers traditional EFTPOS terminals, EFTPOS Air (a soft-POS app that turns a compatible smartphone into a card reader) and OnlinePay for online payments. It publishes flat in-person and online card rates, shown in our table, with a monthly rental on its terminals.
Westpac was founded in 1817 and is headquartered in Sydney, Australia.
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