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How to switch merchant providers in Australia

In short

This guide takes you through switching merchant providers in Australia from gathering your statements to a clean cutover with no downtime. It covers getting comparable quotes, checking your exit terms, confirming terminal compatibility, and making sure least-cost routing is on with the new setup. Switching usually keeps a similar terminal and workflow, though a lower rate can never be guaranteed.

Last updated: 2 July 2026

Switching providers can lower what you pay and improve your service, and it usually keeps a similar terminal and workflow. The key is to compare like-for-like and plan the cutover carefully. It’s general information, not financial or legal advice, and savings can’t be guaranteed.

Step by step

  1. Gather statements and know your blended rateCollect your recent merchant statements and work out your blended rate — total card fees divided by total card turnover. This gives you a clear baseline to compare quotes against. Bring the fixed fees, like terminal rental and minimums, into view too.
  2. Get comparable quotesAsk several providers for quotes on the same basis, ideally interchange-plus pricing, which separates interchange, scheme fees and the provider’s margin so you can see what you’re really paying. Compare those quotes against your current blended rate. Like-for-like comparison is the only way to know if you’re truly better off.
  3. Check exit terms with your current providerRead your current contract for exit terms, notice periods, early-termination fees and any terminal-return obligations. Knowing these upfront avoids surprise costs that could wipe out your savings. Factor any exit fees into your comparison.
  4. Confirm terminal and integration compatibilityCheck that the new provider’s terminal works with your POS, online checkout and any accounting or booking integrations. Ask whether you keep similar hardware or need new devices. Confirming this early prevents workflow disruption on cutover day.
  5. Check settlement times and supportCompare how quickly each provider settles funds to your bank account and what support hours they offer. Slow settlement can strain cash flow, and good support matters when a terminal goes down mid-trade. These practical factors are as important as the headline rate.
  6. Plan the cutover to avoid downtimeSchedule the switch for a quieter trading period and have the new terminal set up and tested before you rely on it. Coordinate timing so there’s no gap where you can’t take payments. A planned cutover keeps you trading throughout.
  7. Keep the old terminal until the new one is verifiedDon’t return or disconnect your old terminal until the new one has processed real transactions successfully and settled to your account. This gives you a fallback if anything goes wrong. Only decommission the old setup once you’re confident the new one works end to end.
  8. Confirm least-cost routing is enabledOnce you’re live, confirm least-cost routing is switched on for the new setup, since it can cut debit acceptance costs by roughly 20%. It isn’t always on by default, so ask the provider directly. This is an easy saving to miss during a switch.
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Source: RBA Review of Merchant Card Payment Costs and Surcharging, Conclusions Paper (March 2026).

Information current as at 2 July 2026.

This guide is general information only and is not legal or financial advice. Rates are indicative; the RBA sets the final rules and timing, so confirm current details at rba.gov.au.
Common questions
Questions, answered
How do I switch merchant providers without downtime?
Set up and test the new terminal before relying on it, schedule the cutover for a quiet period, and keep your old terminal until the new one has processed and settled real transactions. That way you always have a way to take payments.
What is interchange-plus pricing and why ask for it?
Interchange-plus pricing separates interchange, scheme fees and the provider’s margin instead of bundling them into one rate. It makes quotes easier to compare like-for-like, so you can see what you’re really paying.
Will switching providers definitely save me money?
Not necessarily. A lower rate can’t be guaranteed, and exit fees or fixed costs can offset gains, so compare quotes against your current blended rate including all fees. Switching usually keeps a similar terminal and workflow regardless.
Keep reading
How to read your merchant statement and find hidden fees →How to calculate your cost of acceptance →How to enable least-cost routing →Should I switch payment providers before the ban? →Best Providers (AU) →All guides →
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