A direct debit is a form of payment where a customer authorizes a business, organization or government department to withdraw a payment from the customer’s bank account. The following are the cheapest direct debit management services at Payleadr Australia.
The first direct debit service provider listed is Paymate which allows businesses to access a merchant account for an initial setup fee of $55. The total cost of implementation through this platform is fixed at 0.68% per transaction initially. While their standard fees are higher than other providers with a 5% fee on all transactions, they offer flexible payment schedules that allow users to select from different frequencies such as weekly, fortnightly or monthly fees which can save businesses up to 50%. Paymate also has flat transaction fees that start at $2 for any transaction between $0 and $1000 and increase by 1c for every additional $100 in the transaction.
The second direct debit service provider listed is BPay which can be accessed through participating Australian banks, building societies and credit unions after a one-off $50 set up fee. Transaction fees vary depending on the size of the transaction however they start at 1.5% for all transactions under $1000 with no limits or caps on fees exceeding this amount. As well as these transaction fees, businesses will also incur monthly statements charges that include their account management services, equipment leasing and support among other features.
3. Easy Payment Gateway
Easy Payment Gateway offers payment gateways to small to medium sized businesses across Australia with an initial implementation fee of $99 before GST (the equivalent 17% is charged for GST) and a monthly fee of $20 (with no GST). Depending on the size of transaction, fees vary between 1.5% – 6%.
The fourth direct debit service provider is 2Checkout which offers businesses to connect with Australian banks through their platform at 0% commission rate free of charge to allow transactions to begin processing immediately after approval without any additional setup or maintenance fees. Fees are calculated based on the merchant’s product prices and range from 0.9% – 3.9%.
PayPal is a global online payment system that offers competitive flat rates in addition to being able to accept both local and international payments while also allowing customers two AU AU$ sign. PayPal also offers a range of optional features for businesses to engage customers including custom URLs, shopping cart plugins and integrated mobile apps for their products. Fees are commensurate with the size of transaction with fees ranging from 2.4% + AU$0.30 – 3.9%.
While there is no best payment service in Australia due to companies offering different services at varying rates, all providers offer dedicated customer support for any issues relating to payments or transactions while making it easier than ever before to integrate payments into websites and mobile applications across the country.