Being able to accept cashless payments can help your business grow. Read on to learn more about getting set up for EFTPOS and what’s involved. 

How can an EFTPOS machine help my business?

An EFTPOS machine is a fast and convenient way to accept cashless payments. As more and more customers prefer to make cashless payments, it’s the ideal way to accept a wide range of cards and mobile wallets in-store, on the countertop or on the go.

It can also be safer for your business as it reduces the amount of cash handling.

How do I accept EFTPOS payments?

You can take payments in store with either a standalone or mobile EFTPOS machine that connects wirelessly to a docking station and your Wi-Fi for countertop use. Most mobile EFTPOS machines accept payments on the move by connecting to mobile networks.

You can also download an app and turn your Android device into a payment terminal to accept contactless payments on the go. With no need for a separate terminal, it's a simple low-cost flexible payment solution which lets your business take payments anywhere, any time.

How do EFTPOS transactions work?

A customer taps their card or digital wallet on the EFTPOS machine or inserts their card into the card reader.

The EFTPOS machine then sends an authorisation request to the cardholders’ bank. Data is encrypted by the payment gateway to ensure financial details are protected.

Once it’s confirmed that the customer has enough money or credit to pay for the goods and services, the transaction is approved.

This entire process takes only seconds. With a NAB EFTPOS machine, if the transaction settles into a NAB Business Everyday Account before 9:30pm AEST, you'll have same-day settlement  and access to your funds seven days a week.

How do I use an EFTPOS machine?

Use a mobile EFTPOS machine to take payments in your shop or on the road. Or accept card payments easily when you provide a service at a customer’s home.

With a mobile EFTPOS machine, you can accept wide variety of payment types including VISA®, Mastercard®, eftpos, Apple Pay, Google Pay, Samsung Pay, American Express®.

How easy is it to set up an EFTPOS machine?

NAB offers our business customers free installation and set-up of their choice of standalone EFTPOS machine or one that can be integrated with a point of sale (POS) system. We also have an online guides that take you through every step of setting up your EFTPOS terminal.

Learn more in NAB help

Want to learn more about our payment solutions? 

We have more helpful articles below. Alternatively, speak to a business banking specialist on 1300 338 767 Monday to Friday, 8:00am to 6:00pm (AEST/AEDT)

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Important information

Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Apple, the Apple logo, Apple Pay, Apple Watch, Face ID, iPad, iPhone, Safari, and Touch ID are trademarks of Apple Inc., registered in the U.S and other countries.

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