Is about time there is competition to square for payments.
Easy tap is just 1.4% fees compared to 1.9% to square. Don't need to buy hardware.
Only works with Android which is not a big deal.
Just read article today. Not sure how long they have been around.
Just wondering if anyone has tried it?
https://www.nab.com.au/business/payments-and-merchants/nab-e…
Thanks OP!
Nice to see more competition in this space but this could be better if NAB had Amex acceptance straight up (I'd imagine it wouldn't be worthwhile for a lot of the vendors they are targeting to organise their own Amex facilities).
NAB doesn't take chip either, but I don't think this is as much of an issue.
What are the differences between NABs offering and the Square? Does it accept all the same payments?
We bought a Square this week but not overly
Impressed with Squares support or software.
My wife has NAB but no NFC she was looking into returning the Square and using the $60 towards a new phone but couldn't find much info on NABs service.
No idea. I might try it in coming weeks.
You probably want to keep both as NAB is new. I haven't come across any feedback as yet.
@lowpunt Give your SQAURE (1.9%+30c) back and get ZELLER (1.4%) which prints receipts and takes EFTPOS/key cards.
Costs $300 upfront - but usually a $50 off coupon somewhere - and use OZBARGAN ZELLER Referral for another $100
No need to buy a new phone.
Thanks. Haven't heard of that one.
It has been over a month… Has anyone tried Easy Tap?
It's really only suitable for certain business circumstances as it is contactless only and requires an approved supported android device.
While NAB solution is relatively new it is just white labelling some of Quest Payment Systems technology that they have for their own app their app has been around for a little while longer and Questa starting to partner with companies to try to bring it to market more rapidly than their own solution.
There's also multiple other solutions in development at the moment that I would expect we will see in the market sometime next year.
Quest in the limited evaluation that I've done their solution is reasonable but not fully polished I'm not aware of what NAB has done to improve on it with their integrated version but processing does look to be relatively cheaper.
It'll be interesting to see if they'll add Apple Device support using Apple's API's once they decide to roll them out internationally they're only doing it in the US currently.
Apple's solution which is an acquisition of a company that was testing this in Australia and Canada. Is more integrated to the device and allows payment processing providers to integrate using a device level API.
Quest solution is technically doing the same thing for select android devices in lieu of each manufacturer doing it.
Anyway I could go on for several more pages about this topic but I'll leave it at that for now.
Thanks. I am asking on behalf of a community group that sells packed lunch once a week — not even a business but we can get an ABN. Just trying to reduce cash involved.
I'd say at this point Square would be the best option for them and they've opened up their community program so they may even be able to apply as a community group.
If it’s a community not-for-profit group then Tyro is better than Square.
@randomthought: They all seem to have higher fee than Easy Tap, and require dedicated card reader? Not for Profit org also have ABN like a commercial for-profit entity, so what makes one solution better than the other?
@scotty: Tyro supply the machine free of charge, and for a club having the machine is way better than pairing a card reader to someone's phone. It works over wireless or mobile network all at $0 upfront and no charges for anything except 1.8% per transaction. Square wouldn't let some types of ABNs/orgs join and Tyro do, back when I was looking at least. I have not looked at Easy Tap.
Scotty, I asked this question round in a couple of Facebook groups that I run related to business + finance no responses on use.
Example day sales:
100 sales at $10ea = $1000
Square
1.9% = $19
Reader = $59 (currently $39 on sale)
Tap n Pay
1.4% = $14
For the extra change you get a fully fledged application for multiple industries with Square.
NAB requires singing up for a NAB business account, waiting a couple days, then signing up for access to the app, then waiting a couple more days for a NAB person to call and decide wether they like you, and then wait a couple more days to access the app.
Then all you get is a basic payment terminal with an apparent retail and invoice function without any easy to access documentation to setup for an actual retail use case.
Major disappointment considering NAB one of the biggest banks in Australia.
Interesting. Effectively use NFC on androids