FAQ2022-05-13T11:51:33+10:00
your questions answered

FAQs

Who is providing the service and what is the nature of the service?2022-03-23T16:55:56+11:00
  • The service is operated by Payments Consulting Network, an Australian owned independent consulting firm.
  • For further information, please refer to the About Us section.
  • This is an information service only and Payments Consulting Network does not make any suggestion or recommendation to select any particular Payment Service Provider (PSP).
  • This is not a tender or request for proposal service and utilises custom pricing made available by the PSPs supporting the service.
  • While we attempt to include the most competitive PSPs in the service, we have not assessed all PSPs available in the Australian market, and there may be other PSPs that could potentially provide better pricing.
  • The Pricing Comparison will be based on the information provided by you on your current payments arrangements and volumes sourced from the merchant statements. The analysis will not consider your integration requirements, detailed objectives, future projections, or a comprehensive list of requirements. We will however provide you with relevant links to the PSP’s website so that you can assess the PSPs to make an informed decision.
  • Before acting on the information that we provide, it is important that you make your own assessment and review all the relevant documentation provided by the PSP on their website. Additional terms, conditions and fees may apply to different features.
  • If you decide to apply for a new PSP facility, you will be dealing directly with that PSP and not with Payments Consulting Network. Pricing and product information should be confirmed with the PSP.
Is the service independent and are referral payments being paid by the service providers?2022-03-23T16:55:00+11:00
  • While Payments Consulting Network has referral agreements with the payment service providers supporting the service, no referral fees are paid by these organisations to Payments Consulting Network. Instead, should you make a successful application using the enquiry link provided with the Pricing Comparison, these organisations will make a referral payment to our charity partners – The Funding Network Australia or The Life You Can Save. PCN receives no income from a merchant signing up with any of the payment service providers supporting the Pricing Comparison service and provides this as a community service as part of PCN’s Giving Program.
  • We would appreciate that you please only leverage this service once you have already checked for better pricing with your existing provider, and only if you are willing to consider and change service providers to one of the service providers supporting the service.
What information do I need to provide?2022-03-23T16:54:31+11:00
  • We require information on your business (e.g. company name, website), how you accept payments (in-store, online), payment volumes and fee structure (e.g. copies of relevant merchant statements).
  • Please refer to the FAQ on merchant statements for further information.
What merchant statement should I provide?2022-03-14T13:53:25+11:00
  • ANZ Bank
    • Please provide a full merchant statement for a month that is representative of typical monthly sales.
    • If you operate more than one store, please provide the merchant statement for the consolidated group.
    • If you receive a rebate on eftpos cash-out transactions, please let us know what that amount is the rate often cannot be determined from ANZ Bank merchant statements. The eftpos cash-out rebate amount can be found in the fee schedule that forms part of your Merchant Services Agreement with ANZ Bank.
  • Commonwealth Bank
    • Please provide full merchant statements for each individual store for a month that is representative of typical monthly sales.
    • Please also provide the most recent June merchant statement as this also shows 12 months cost of acceptance data.
  • Fiserv
    • Please provide full merchant statements for each individual store for a month that is representative of typical monthly sales.
  • National Australia Bank
    • Please provide a full merchant statement for a month that is representative of typical monthly sales.
    • If you operate more than one store, please provide the merchant statement for the consolidated group.
  • Tyro
    • Once you login into the Tyro merchant portal:
    • Select “Self-service” from the main menu. This will take you to the Surcharges tab. Please print this page as a PDF, ensuring the “Cost of acceptance breakdown” is printed and provide this file.
    • Select “Reports” from the main menu. Select the “Transactions” tab. Select 1 March 2021 as the “Start date” and 31 March 2021 as the “End date”, then click “Generate report”. Once it has been generated, go to the bottom of the report/screen and click the “Excel” button to export the report, and provide this file. If you have more than one EFTPOS terminal, run this report for each terminal and export as an Excel file.
    • Select “Reports” from the main menu. Select the “Reconciliation: summary” tab. Select a month that is representative of typical monthly sales, then click “Generate report”. Once it has been generated, go to the bottom of the report/screen and click the “Excel” button to export the report, and provide this file.
  • Westpac
    • Please provide full merchant statements for each individual store for a month that is representative of typical monthly sales.
    • If you operate more than one store, please provide the merchant statement for the consolidated group.
    • Please also provide the most recent June merchant statement as this also shows 12 months cost of acceptance data.