I have setup a poll to find out how newsagents handle eftpos fees. Once you click vote the free polling software will take you off the blog and show the results so far.
Interesting results so far. I am supprised at the number of newsagents charging for eftpos transactions…. No, actually i am concerned at the number.
I wonder if it is in any way a reflection of the industry not having a competative eftpos deal available?
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mark fletcher
Jarryd the results are a surprise. I think it harks back to the days of regulation. I am in a competitive space – hence the decision to NOT charge.
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Stanley Earp
I charge 15 cents for all plastic card transactions.
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Daniel Leahy
Below are the charges that we apply at our newsagency – very rare to get a Customer complaint – we will waive surcharge if Customer is purchasing stock lines from other departments in-store:
EFTPOS / CREDIT CARD less than $15.00: 0.15¢
DIALTIME / AUST POST / CIGS – ON CREDIT CARD: 1%
LOTTO / WESTERN UNION – EFTPOS ONLY: 1%
ACCOUNT PAYMENTS: Visa / MasterCard 1%, Amex 3%, Diners 3.25%
We don’t charge here either Mark. I would not say we are in a highly competative space but we would still never consider charging for eftpos. Then again, our rates we will soon recieve from the Comm Bank will ensure eftpos costs us almost nothing.
I am concerned that although I hear newsagents say they rarely get a customer complain, they may not be taking into account how many customers are unhappy and choose not to complain.
If i were to find out when paying for a purchase somewhere, that i was going to be charged for eftpos then i would not complain. But it is likely that i am going to leave the shop unsatisfied and unlikely to shop there again.
The CBA deal is offered through our supermarket group Foodworks.
The exact deal each store receives depends on what a) who owns the telephone line which the eftpos is connected to, and b) whether you use a dial-up or argent connection for eftpos.
Those who own the phone line and use an argent connection recieve;
– no charge for debit purchases
– a rebate on purchases with cash-out
The only other normal charges are terminal rental (if you don’t own your own eftpos terminals), a yearly fee and the charges on purchases from credit card purchases.
We don’t get a lot a credit card purchases here, partly because lotteries can’t be purchased on credit so this is minimal for us. And terminal rental depends on the terminal you choose and the term of the rental contract.
I will note that many newsagents use the Bill Express platform, which extends to over 3000 locations. The deal they have negotiated is not reflective of that number.
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mark fletcher
Jarryd I agree about the fees and customers being unlikely to complain. I would like to see an industry wide approach to this.
Great! Thanks Mark
Interesting results so far. I am supprised at the number of newsagents charging for eftpos transactions…. No, actually i am concerned at the number.
I wonder if it is in any way a reflection of the industry not having a competative eftpos deal available?
Jarryd the results are a surprise. I think it harks back to the days of regulation. I am in a competitive space – hence the decision to NOT charge.
I charge 15 cents for all plastic card transactions.
Below are the charges that we apply at our newsagency – very rare to get a Customer complaint – we will waive surcharge if Customer is purchasing stock lines from other departments in-store:
EFTPOS / CREDIT CARD less than $15.00: 0.15¢
DIALTIME / AUST POST / CIGS – ON CREDIT CARD: 1%
LOTTO / WESTERN UNION – EFTPOS ONLY: 1%
ACCOUNT PAYMENTS: Visa / MasterCard 1%, Amex 3%, Diners 3.25%
We don’t charge here either Mark. I would not say we are in a highly competative space but we would still never consider charging for eftpos. Then again, our rates we will soon recieve from the Comm Bank will ensure eftpos costs us almost nothing.
I am concerned that although I hear newsagents say they rarely get a customer complain, they may not be taking into account how many customers are unhappy and choose not to complain.
If i were to find out when paying for a purchase somewhere, that i was going to be charged for eftpos then i would not complain. But it is likely that i am going to leave the shop unsatisfied and unlikely to shop there again.
Jarryd,
Can you say more about the CBA deal?
Cheers
Brett,
The CBA deal is offered through our supermarket group Foodworks.
The exact deal each store receives depends on what a) who owns the telephone line which the eftpos is connected to, and b) whether you use a dial-up or argent connection for eftpos.
Those who own the phone line and use an argent connection recieve;
– no charge for debit purchases
– a rebate on purchases with cash-out
The only other normal charges are terminal rental (if you don’t own your own eftpos terminals), a yearly fee and the charges on purchases from credit card purchases.
We don’t get a lot a credit card purchases here, partly because lotteries can’t be purchased on credit so this is minimal for us. And terminal rental depends on the terminal you choose and the term of the rental contract.
I will note that many newsagents use the Bill Express platform, which extends to over 3000 locations. The deal they have negotiated is not reflective of that number.
Jarryd I agree about the fees and customers being unlikely to complain. I would like to see an industry wide approach to this.