- Highs: Good transaction rates. Easy sign-up. No lock-in contract. 24/7 support. Works with most POS systems.
- Lows: Monthly cost. Takes up to 9 business days to receive the card machine.
- Choose if: You’re thinking about switching to a terminal provider with better card rates.
Note: More Payments has been replaced with PayNuts, so this article is no longer updated. See our latest PayNuts review to learn more.
What is More Payments?
More Payments is an Australia-based reseller of EFTPOS and online payment solutions for small and medium-sized businesses. The actual provider of the products is Till Payments, also based in Australia.
Together with Till, More Payments can offer modern EFTPOS machines at rates tailored to the merchant, as well as payment links and a payment gateway for an online store. The parent company More Services also offers solutions for telecoms, bookkeeping – even electricity.
Compare alternatives: 5 best EFTPOS machines in Australia
Card machine
More Payments offers one EFTPOS machine provided by Till: the Ingenico Move/5000 mobile card machine.
It can be used as a mobile EFTPOS terminal with its SIM card (included) and 4G, but equally suits a stationary or portable setup via WiFi and Bluetooth. If you’re using WiFi, 4G kicks in as a backup connection when the WiFi goes offline, which makes it a great choice for poor internet connections.
Ingenico Move 5000 specifications:
Photo: More Payments
Ingenico Move/5000 is a good EFTPOS machine that works anywhere.
The EFTPOS machine can be used as a standalone terminal, or integrated with your POS software. Advanced tipping options can be switched on in the terminal settings, to benefit hospitality and service industries.
The More Payments package includes unlimited free EFTPOS receipt paper rolls for the duration of the contract.
The card machine accepts contactless and chip-and-PIN payments from these card brands:
- Visa
- Mastercard
- eftpos
- UnionPay
- American Express
The digital wallets Apple Pay, Google Pay and Samsung Pay are also accepted. The Buy Now Pay Later solution Afterpay can be accepted from the terminal as well.
With American Express, you need a separate merchant account from Amex. This is normal, but it means you will pay extra for being able to accept it.
| More Payments costs | |
|---|---|
| Setup fee | None |
| Contractual lock-in | None |
| Monthly fee | Ingenico terminal: $25 + GST |
| Terminal delivery | Free |
| Transaction fees | 0.8% – 1.5%* |
| Refunds | Free |
| Chargebacks | $25 |
| Monthly minimum charge | No minimum turnover required/no fee |
| Exit fee | None |
*Percentages cover all the transaction costs involved.
| More Payments costs |
|
|---|---|
| Setup fee | None |
| Contractual lock-in | None |
| Monthly fee | Ingenico terminal: $25 + GST |
| Terminal delivery | Free |
| Transaction fees | 0.8% – 1.5%* |
| Refunds | Free |
| Chargebacks | $25 |
| Monthly minimum charge | No minimum turnover required/no fee |
| Exit fee | None |
*Percentages cover all the transaction costs involved.
The EFTPOS terminal rental costs $25 + GST per month. This can be cancelled any time without a termination fee, though you should submit the cancellation request before the next payment is due, because the monthly fee is non-refundable.
The transaction fees are more complicated, but merchants have a choice between three different pricing plans: Interchange+, Interchange++ or Blended rates.
Interchange++ is the most complicated – but fairest – pricing structure. One part of this structure is the cost of card processing, which includes card scheme fees and fixed interchange rates charged by the card schemes Visa, Mastercard, eftpos and others. The other part is a merchant acquiring fee. In other words, you pay the actual cost of the transaction plus the margin of Till.
The card scheme fees vary by the type of card used. Merchants who already have an idea of what kind of cards they typically accept can usually get a better deal switching to a service like Till Payments compared to a single flat rate of, say, 1.9%.
The total fees you actually pay, including the card scheme/interchange fees and the margin, are between 0.8% and 1.5%, possibly above that for business cards, foreign-issued cards and American Express.
The following table shows the interchange fee ranges for Australian credit or debit cards for the main card schemes.
| Scheme | Interchange fees* |
|---|---|
| Mastercard & Visa, AUD credit cards | 0.22%-0.88% |
| Mastercard & Visa, AUD debit cards | $0.01-$0.17 or 0.11%-0.22% |
| eftpos cards | $0.01-$0.15 |
*Incl. GST.
| Scheme | Interchange fees* |
|---|---|
| Mastercard & Visa, AUD credit cards | 0.22%-0.88% |
| Mastercard & Visa, AUD debit cards | $0.01-$0.17 or 0.11%-0.22% |
| eftpos cards | $0.01-$0.15 |
*Incl. GST.
As you see, the non-negotiable interchange rates can be quite low. Till’s service fees/margins are, however, added on top and set according to individual circumstances (request offer).
With More Payments, you also benefit from the lowest cost routing system, where eligible debit card payments automatically use the cheapest network to process the transaction, resulting in the lowest possible card fee for your business.
Transactions are settled into any Australian business bank account within a few business days.
If you’d like to make customers pay a surcharge to offset transaction fees, you can set up dynamic surcharging, automatically applied to each transaction. The surcharge amount can be set according to the card type (e.g. eftpos or Amex) and as a percentage or fixed amount per transaction.
Decent alternative: Westpac EFTPOS – is it affordable for a small business?
Reporting and Merchant Portal
To get a sales overview, you can log into Till Merchant Portal, a web portal accessed through any web browser. Here, you can view and generate reports of sales data from both your EFTPOS machines, payment links and ecommerce sales. Daily, weekly and monthly reports can be downloaded.
Photo: More Payments
Till’s online portal gives you real-time access to sales.
The Ingenico Move 5000 machine can also print Z and X reports through its printer and refund card transactions on the spot.
POS integration
The EFTPOS machines of Till work directly with pretty much any POS setup through the connector software Linkly – to be more specific, over 450 different point of sale (POS) systems including Bepoz, Hike POS and Vend. This is more integrations than Tyro accommodates for.
An integrated POS system means you don’t have to manually enter the transaction total on the card terminal after adding products to the cart on the checkout screen. Instead, the card machine will be ready for the payment automatically when you’ve approved a transaction on the register, speeding up the payment process.
Sales reports will also be able to consolidate card payments with individual transactions, so there’s at least some basic information about what kind of card was used for each payment.
Image: More Payments
If you’re using the Ingenico machine at a counter, you can get a finger sanitising pad to go with it.
Customer service and signing up
On all plans, you get access to round-the-clock customer support via telephone.
Although More Payments is an authorised representative for Till, both the onboarding process and ongoing merchant support come from Till. It is, however, very smooth to get started, because the application form is digital and not through paper forms.
After filling in the contact form on the More Payments website, you are emailed a link to the application form. It takes up to 5 minutes to look this over and complete, then sign for it digitally.
Some sole traders and companies will get instant approval – otherwise, it takes up to three days for the application approval. The EFTPOS machine will then take up to five days to arrive on your doorstep. You can therefore be ready to take your first payment within one week, but it could take a bit less than two weeks if every part of the process is slow.
Verdict
More Payments offers a decent choice of pretty attractive EFTPOS rates from Till without contractual lock-in – as long as you are okay about the monthly fee. Elsewhere, you can get card readers without monthly rental, but then there’s a fixed transaction rate that’s, on average, more expensive if you mostly accept domestic debit cards.
The modern card machine, 24/7 support, POS integrations, easy sign-up and the fact it works with any Australian bank account are all advantages that could win SME businesses over. On top of this, the Afterpay integration is a great financing option that could increase sales among customers with limited credit options.
Best for: Small and medium businesses looking for better rates, a newer terminal and a flexible EFTPOS solution without lock-in.
