eftpos promotes potential savings for
Australian small business in COVID recovery
eftpos today launched an advertising campaign to promote a way that Australia’s small businesses
may be able to reduce their costs as they rebuild after COVID-19.
The six week campaign will help inform merchants about how they can potentially reduce the fees
they pay to accept ‘tap’ card transactions on dual-branded debit cards by routing them through
eftpos opposed to international payment companies.
Known as Least Cost or Merchant Choice Routing, the method can lead to significant savings of up
to 40%# on transaction fees from debit cards – Australia’s most popular form of payment.
“Right now in Australia, nothing is more important for Australian business owners than protecting
cash flow,” eftpos CEO Stephen Benton said. “There are many things outside their control such as
labour costs and utility bills, but they may be able to reduce the cost of receiving payments by Least
“With debit cards accounting for more than 70% of card transactions in Australia and more
consumers moving away from cash after COVID-19, routing has the potential to deliver significant
savings for many thousands of small and medium businesses across the country. In turn, these cost
savings could also flow to customers in the form of lower prices or reduced surcharges.”
There are around 35 million dual-branded debit cards in Australia – featuring the eftpos logo on the
back and an international scheme on the front.
The new eftpos campaign launches today and will run across outdoor, digital and social media, as
well as radio and print publications. It’s the first significant advertising eftpos has done in three
Mr Benton said the new campaign was an expression of the company’s Purpose – to do good for
Australia – by offering the opportunity for reduced fees, specifically for small and medium
businesses and their customers during this difficult time.
“The Reserve Bank has promoted Least Cost Routing for many years as a way of reducing costs for
merchants, and has urged the industry to promote the service more widely**,” Mr Benton said.
“The message of this campaign is simple – contact your bank or Acquirer to find out what savings
you can make by routing through eftpos.”
*Up to 40% saving based on numbers provided in the RBA Bulletin March 2020. Subject to your Acquirer terms and their
passing through eftpos’ package wholesale pricing.
**RBA Head of Payments Policy, 5 Feb 2020, Australian Financial Review
eftpos is Australia’s debit card system, accounting more than 2 billion CHQ and SAV transactions in
2019 worth around $130 billion. For more information on eftpos, please visit:
Media inquiries: Warwick Ponder, eftpos, 0408 410 593, WPonder@eftposaustralia.com.au