---
title: "Tyro vs Square vs APS vs Zeller — 2026 EFTPOS rates compared"
description: "Side-by-side comparison of Australia's biggest payment processors. See which is cheapest for your monthly volume in 2026."
category: comparison
published: 2026-04-28
source: https://readiness.aps.business/blog/tyro-vs-square-vs-aps-rates-compared
reading_time: 8 min
---

# Tyro vs Square vs APS vs Zeller — 2026 EFTPOS rates compared

Tyro, Square, Zeller, APS, Stripe — all advertise different headline rates. Here's how they actually compare for typical AU SMB volumes in 2026.
Picking a payment provider in Australia is harder than it should be. Tyro, Square, Zeller, APS, Stripe, CommBank — they all advertise different rates, structures, and "no fees" promises. Below is a straight comparison of the biggest providers for AU SMBs in 2026, including the gotchas the marketing pages don't mention.

## The headline rates

| Provider | In-store rate | Monthly fees | Terminal cost | Lock-in |
| --- | --- | --- | --- | --- |
| APS | 1.1% flat | $0 | $0 | No |
| Square | 1.6% in-person | $0 | $59-$429 one-off | No |
| Zeller | 1.5% flat | $0 | $229 one-off | No |
| Tyro | 1.4% - 2.4% (negotiated) | $29-$79 | $30-$50/mo rental | Variable |
| Stripe | 1.7% in-person | $0 | $59 one-off | No |
| CommBank Smart | 1.1% - 1.5% (negotiated) | $22-$66 | ~$30/mo rental | Variable |

*Rates as of April 2026, sourced from each provider's published pricing pages. Negotiated rates apply where stated — actual rates depend on your volume and category.*

## What the headline rates hide

### Square — looks simple, has hidden costs at scale

Square's 1.6% is genuinely flat with no monthly fee — clean for low volumes. But there's no scaling discount: at $100K/month volume, you're paying $1,600/month in card fees. Bigger merchants outgrow Square fast.

### Zeller — strong product, mid-tier pricing

Zeller's hardware is excellent and the dashboard is best-in-class. But 1.5% flat with no negotiation means you pay the same whether you do $5K or $500K/month. Good for cafés up to ~$30K/month; gets expensive after that.

### Tyro — negotiated, varies wildly

Tyro doesn't publish flat rates because they negotiate per merchant. A small café might be quoted 2.2%; a larger pub might land at 1.4%. Worth comparing your actual quote against alternatives — Tyro often loses on transparent comparison.

### Stripe — built for online, expensive in-person

Stripe's online rates are competitive (1.7% online for AU cards). In-person rates aren't their focus and reflect that. If most of your volume is in-store, Stripe is rarely the cheapest.

### CommBank Smart — bank-bundled, often overpriced

CommBank's "Smart" terminal sits within the broader business-banking relationship. Rates are negotiable but typically settle higher than independent providers. The convenience of "all with one bank" is real but costs roughly 0.2% to 0.6% per transaction.

### APS — the flat-rate alternative

APS offers 1.1% flat across the board with no monthly fee, no terminal cost, and no lock-in contract. The economics work for the provider because of operational efficiency and a focus on AU SMBs specifically. For most merchants in the $20K-$200K monthly volume range, APS is the cheapest of the listed options.

## Worked examples

Same monthly volume of $50,000, different providers:

| Provider | Card fees | Monthly fee | Terminal | Total/mo |
| --- | --- | --- | --- | --- |
| APS | $550 | $0 | $0 | $550 |
| Zeller | $750 | $0 | ~$10 amortised | $760 |
| Square | $800 | $0 | ~$5 amortised | $805 |
| Tyro (mid-tier) | $900 | $49 | $40 | $989 |
| CommBank Smart | $650 | $44 | $30 | $724 |

The annual difference between APS and Tyro at this volume: **~$5,268/year**. That's a real number that compounds.

## How to pick the right provider

-   **Volume under $20K/month:** Square or Zeller — simple flat rates, no surprises.
-   **Volume $20K-$200K/month:** APS is usually cheapest. Negotiate hard with Tyro or CommBank if you want to compare.
-   **Volume above $200K/month:** Interchange-plus pricing from Tyro, ANZ Worldline, or Adyen typically wins. Get a custom quote.
-   **Online-heavy:** Stripe's online rates are excellent. Pair with APS for in-person if you have both channels.

## Bottom line

For most AU SMBs in the $20K-$200K monthly range, APS is the cheapest of the major providers when you account for total cost (not just headline rate). It's worth a 15-minute call to find out your specific numbers — [**call 1300 096 983**](tel:1300096983) or run the [free comparison tool](/lp/rate-comparison) to see exact savings for your volume.