Lower banking fees for newsagents

We sent out the following announcement to newsagents today.

Newsagents are set to save hundreds of dollars a year thanks to new, lower banking fees negotiated with St.George Bank and BankSA.

A 0.63% Merchant Service Fee (MSF) for credit cards and a $0.07 (or 0.227%) fee for debit cards set a new low benchmark for these transactions in newsagencies. 

A $10 per month terminal fee is 60% less than what many newsagents pay today.

Exclusive to newsagents using the eziPass electronic product platform, the new St.George and BankSA banking fees are expected to save an average newsagency around $500 a year.

 “We are thrilled to announce this relationship with St.George and BankSA”  Commented Mark Fletcher, Managing Director of Tower Systems, the developers of eziPass.  “Cutting EFTPOS fees for newsagents is an important part of the eziPass mission.  Without a middleman, newsagents are better placed to be more competitive.”

eziPass offers over 300 electronic products including phone recharge, tollway payments, movie downloads, a full range of international calling cards and many other products. 

Access to eziPass is free and there will never be any fees.  There is no long term locked-in contract.   Payment for stock is made weekly and margins on some items are considerably better than alternative electronic vouchers.

Newsagents can start saving with eziPass today.  Those not using Tower Systems’ software will have access to a stand alone version of the product from the second week of April.

BACKGROUND.  eziPass has been developed by Tower Systems for use by all newsagents.  Tower Systems does not take any commission or payment from its eziPass work or transactions put through eziPass, thus enabling better returns for newsagents.  Tower Systems already serves over 1,450 newsagents nationally. 

Newsagents who have signed up for eziPass will be sent the paperwork from St.George and BankSA.