EFTPOS Alternatives
The Best EFTPOS Alternative for NZ Small Businesses in 2026
If you're a small business in New Zealand, you've probably wondered whether there's a better option than the expensive EFTPOS terminal on your counter. Good news: there is — and it costs nothing to set up.
Why NZ small businesses are ditching EFTPOS terminals
Traditional EFTPOS providers charge $20–$50 per month in terminal rental on top of per-transaction fees, and typically lock businesses into 12–24 month contracts. For many small businesses — market stalls, tradies, food trucks, pop-up shops — this doesn't stack up financially.
On top of the cost, EFTPOS terminals only accept card payments. They don't support direct bank transfers, which in New Zealand are often cheaper for both the merchant and the customer. And they require a fixed setup — not great for businesses that move around.
What to look for in an EFTPOS alternative in NZ
A good EFTPOS alternative for NZ businesses should:
- Accept card payments (Visa, Mastercard, Apple Pay, Google Pay)
- Accept direct bank transfers (Pay by Bank) for lower fees
- Work without dedicated hardware — on any phone or tablet
- Have transparent, predictable pricing with no monthly fees
- Work anywhere — at a fixed premises, on the road, or online
- Be quick to set up without merchant account applications
Tillify: New Zealand's leading EFTPOS alternative
Tillify is a NZ-built payment platform that accepts both card and bank transfer payments through a QR code — no EFTPOS terminal required. Customers scan a QR code with their phone camera and pay via their banking app or card. There's no app to download and no hardware to install.
Pay by Bank works with all five major NZ banks: ANZ, ASB, BNZ, Westpac, and Kiwibank, powered by New Zealand Open Banking APIs. Card payments support Visa, Mastercard, Apple Pay, and Google Pay via Stripe.
Unlike traditional EFTPOS, Tillify works anywhere — a market stall, a food truck, a trade job site, or an online store. You can also use the built-in point-of-sale till for fast in-person transactions.
EFTPOS vs Tillify: cost comparison for NZ businesses
| Cost | EFTPOS | Tillify |
|---|---|---|
| Hardware | $500–$800 | $0 |
| Monthly rental | $20–$50/month | $0 |
| Contract | 12–24 months | None |
| Transaction fee | ~1.5–2.5% (card only) | 1% + $0.25, capped $2.50 |
Use the fee calculator to see your exact savings based on transaction volume.
Switch from EFTPOS today — it's free
No hardware. No monthly fees. No contracts.