What Are the Best Tap to Pay Apps for Small Businesses?

Tap to Pay contactless payment apps offer small businesses an efficient way to process card payments quickly, securely, and conveniently. With numerous options out there to accept payments, finding the right solution for your business can be challenging.

To make it easier, we’ve curated a list of the top three mobile payment apps most suited for Australian small businesses. This list includes some of the best mobile payment apps specifically evaluated for small businesses:

• Pebl POS
• Tyro BYO
• Westpac EFTPOS Air

Each app provides unique benefits tailored to different business needs. Let’s explore how these payment apps can help your business efficiently accept credit card payments, boost customer satisfaction, and streamline operations.

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Pebl is an Australian-owned payment app designed to make accepting payments seamless for small businesses. It eliminates the need for additional hardware like an EFTPOS machine or card readers, allowing payments to be processed via a smartphone. With support for all major credit and debit cards, including Apple Pay, Google Pay, and PayID, Pebl offers flexibility for customers while ensuring quick, secure transaction processing.

Key features of Pebl:

• Tap to Pay functionality on both iPhone and Android, making it as reliable as traditional EFTPOSterminals.
• A flat transaction fee of 1.80%, with no monthly fees or setup costs, and the option to pass this fee to customers, keeping your costs minimal.
• Support for QR code payments and sharing links via SMS, email, and apps like WhatsApp and Facebook Messenger.

Pebl is ideal for businesses of all sizes, from small businesses to enterprises with large sales teams. It also provides a web-based dashboard for managing transactions, giving business owners better control over operations.

Additionally, Pebl ensures top-notch security, utilising encryption and compliance with industry standards to protect card payments and customer data.

Tyro’s BYO app is a simple, iPhone-exclusive mobile payment solution for Australian small businesses. It facilitates online payments, enabling businesses to process transactions. It allows businesses to accept contactless payments, including credit cards, debit cards, and digital wallets like Apple Pay, Samsung Pay, and Google Pay.

Highlights of Tyro BYO:

• Easy setup: Simply download the app and log in to start accepting payments.
• Competitive transaction fees of 1.4% per payment, including GST.
• No need for external devices like portable card machines or EFTPOSproviders, saving on extra costs.

While Tyro is limited to iPhone users, its focus on efficiency and security makes it a top choice for businesses needing reliable mobile payments without investing in additional hardware.

Westpac EFTPOS Air is designed for Australian small businesses that want a straightforward way to accept contactless payments. Like Tyro, this app is exclusive to iPhone users. Businesses can quickly process card transactions, including payments made via Apple Pay and credit cards, without the need for traditional EFTPOS machines.

Each card payment processed through Westpac EFTPOS Air incurs a transaction fee, which can impact the overall financial health of a business. It's important for business owners to consider these costs when evaluating their payment processing options.

What sets Westpac EFTPOS Air apart:

• Integration with existing Westpac merchant accounts, requiring a Westpac bank account to use the service.
• Built-in inventory management and point of sale (POS) features for businesses on the go.
• Competitive pricing with a flat 1.4% transaction fee and no extra hardware costs.

This app is ideal for small businesses, such as market stalls and food trucks, offering speed, flexibility, and security. Its same-day settlement feature improves cash flow, helping business owners stay on top of finances.

When it comes to mobile payment apps, understanding the fees and pricing structures is crucial for small businesses. These costs can vary significantly depending on the provider and the type of transaction. Here are some key considerations:

• Transaction Fees: Most mobile payment apps charge a transaction fee, typically ranging from 1.5% to 3.5% per transaction. This fee is a percentage of the total transaction amount and can impact the overall cost of using the app.
• Monthly Fees: Some mobile payment apps may charge a monthly fee, which can range from $10 to $50 per month. This fee is usually for access to premium features or higher transaction limits.
• Debit Card Fees: Fees for debit card transactions can vary, often ranging from 0.5% to 1.5% per transaction. It’s important to compare these fees across different apps to find the most cost-effective option.

Credit Card Fees: Similar to debit card fees, credit card transaction fees can range from 1.5% to 3.5% per transaction. These fees can add up, so it’s essential to choose an app with competitive rates.

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In addition to fees, small businesses should consider other factors when selecting a mobile payment app:

• Security: Choose mobile payment apps with robust security features, including encryption and two-factor authentication, to protect card payments, reduce fraud risks, and safeguard sensitive data during transaction processing.
• Ease of Use: Opt for tap to pay apps for small businesses with intuitive interfaces and straightforward instructions, ensuring smooth payment processing with minimal staff training.
• Integration: Select the best mobile payment apps that seamlessly integrate with your existing POS systems, accounting software, and eftpos machines, enabling easy reconciliation of payments and efficient management of merchant accounts.
• Customer Support: Prioritise apps with excellent customer support and multiple assistance channels, ensuring issues with mobile payments or card transactions are resolved quickly.

By evaluating these factors, small business owners can streamline contactless payments, reduce transaction fees, and enhance customer satisfaction.