How to Become a Sole Trader

Here's what you need to know about finding the right EFTPOS terminal. Searching for a next-gen EFTPOS machine that accepts modern payment methods, processes payments quickly, settle funds into your business account as fast as possible, and looks good on your countertop? Finding the right terminal for your business is important – you’ll rely on it for secure, fast cashless payments that keep your cash flow looking healthy. Some terminal providers will lock you into long contracts, with expensive termination fees, so knowing what to look out for is key. How much is it to have an EFTPOS machine? The EFTPOS machine you choose will depend on variables such as your budget, sales volumes, Point of Sale (POS) software, and fees associated with your merchant account. It costs $259 to own a Zeller Terminal outright. There are no hidden fees or charges, and no lock-in contracts. When you sign up for Zeller, you also receive a free Zeller Transaction Account (into which funds accepted via Zeller Terminal are settled nightly) and a free Zeller Debit Card — so you can pay suppliers and make business purchases with ease. Keep reading to discover the nine questions you should keep in mind when comparing EFTPOS terminals. 1. Do I understand the fees? Many business owners don’t realise they are agreeing to pay hidden fees, such as expensive terminal fees, until it’s too late. Sign the dotted line and you could be agreeing to pay a lot more than anticipated for your EFTPOS machine — and lock-in contracts usually come with hefty fees for early cancellation. Otherwise cautious business owners fall victim to hidden EFTPOS terminal fees time and time again. However, these fees are required by law to be disclosed somewhere – you just need to know where to look. Make sure to go through the terms and conditions with a fine-tooth comb; never solely rely on a verbal quote. If you’re already using an EFTPOS machine, check your merchant statement as this will tell you the processing fees and other fees you’re currently paying. It’s also important to remember that, in most cases, if you decide to rent your EFTPOS terminal you won’t own it at the end of the payment period. You’re simply paying for the privilege of using it, and will be left empty-handed when the contract ends. Although renting may look like an affordable option at first, it’s a tactic designed to get business owners to pay far more than what the terminal is actually worth. Zeller Terminal is yours to own for one low payment of $259. There’s no lock-in contract or hidden fees; we know you’ll keep using your Zeller Terminal because you love it, not because you have to. Learn more about Zeller Terminal and whether it’s the right solution for your business. 2. Will it be easy to use? Taking payment is usually the last interaction a member of your staff has with a customer. However, time wasted teaching staff the intricacies of a confusing system is time that could be better spent on other parts of the business. The ease with which staff process a payment affects the customer experience at every business. Your EFTPOS payments terminal needs to be easy for all staff to use, with minimal training. This is especially important if you run a retail store that hires casual staff during peak holiday and sales periods, or in another business that regularly hires new workers. When shopping for an EFTPOS terminal, consider whether it has been designed by a team that understands your business. Are the prompts straightforward? Is the user flow intuitive? Your terminal should feel natural and simple to use. If it is, your staff will save time with every transaction – and you’ll save time training them how to use it. 3. Can I customise it to suit my business? Some EFTPOS payment terminal providers will force your business to work their way. This is related to the point above: if you choose a provider who understands your business, you’ll likely find there’s no need to change your internal workflows. An EFTPOS terminal should fit the way you want your business to work. When selecting a terminal provider, consider how well it fits with your established processes. For example, you might want the ability to: restrict the ability to provide a customer with a refund to a small pool of staff, such as managers charge your customers a surcharge enable tipping customise your receipts Choose a provider that gives you the power to customise the way you accept and manage your payments and you’ll save yourself from needing to retrofit your processes to fit the tool. 4. What happens if my internet cuts out? Your business needs to be able to continue processing cashless payments even during periods of internet outage. You don’t want to have to send your customers to the closest ATM, or have them scrambling for cash. Occasionally, small periods of service downtime will be unavoidable. Your internet provider might be down for routine maintenance or there may be a power cut to your area, or another technological issue may impact how your EFTPOS terminal connects to the internet. However, any period of downtime has the potential to negatively affect your business — the impacted customer may never return. That’s why, when you choose Zeller Terminal, you have the option to switch to another network. If you’re experiencing issues with your Wi-Fi provider, it’s simple to connect via 3G to another network and continue processing payments using your SIM card. 5. How often will I need to charge it? These days, many businesses are run on the go — so a mobile EFTPOS terminal is a must. Cafes and restaurants that take payment from the table depend upon a long-lasting battery to get through the day. For a retail store, a long-lasting battery provides the flexibility to take payments from wherever is convenient for the customer. For mobile services such as trades and beauty technicians, having the ability to take payment on the go saves you the hassle of returning to your computer, sending an invoice, then following up until payment is finalised. It’s essential that the EFTPOS terminal you choose has enough battery life to give you peace of mind that you’ll never miss out on crucial transactions. 6. How fast can I put my funds to work? Depending on which payment services provider you choose to use, you could access your funds the same day you earn them – or you could be waiting upwards of three business days. The speed of settlement can have a big impact on your cash flow. Choose a provider that’s slow to settle, and you may find yourself in the frustrating situation of needing a business loan to tide you over until your funds are released. When you use your Zeller Terminal in combination with your free Zeller Transaction Account , you’ll get same-day settlement for your funds so you can spend using your Zeller Debit Card . Or, if you want to use your existing business bank account , your funds will settle the next business day. 7. Is there setup and ongoing support? Painful setup, hard-to-follow instructions, and uncontactable customer service representatives are headaches you simply don’t need. Some EFTPOS terminal providers are intuitive enough to use out of the box, whereas others come with a booklet of instructions you’ll need to follow. Or, you may be asked to book a technician to manage the setup on-site. Once you’re up and running, having multiple ways to ask for help – whenever you need it — is important. If your business operates in the evening and on weekends, look for a provider that offers extended support hours. If something goes wrong and you need answers fast, you need to feel confident that someone will pick up the phone on the other end. 8. Will it protect my business? Fraud is a risk for businesses of any size. Recurring chargeback fraud , in particular, can be costly for a business. When considering any financial services provider, it’s important to check whether it's backed by a team of security experts. You’re trusting this business to handle your money. Zeller’s Support team monitors transactions round the clock — 24 hours, 7 days a week — to prevent fraud before it happens. Backed up by intelligent machine monitoring, our team works to identify and respond to fraudulent attacks in real-time. 9. How soon can I get it? If you’re ready to start selling your products or services now, choosing an EFTPOS terminal that takes weeks to be delivered is an unnecessary setback. Why eat into valuable time you could be turning a profit? Ideally, your EFTPOS terminal will be available for delivery quickly. Even if you’re not ready to start accepting payments at your business, getting your EFTPOS payment terminal as soon as possible will give you extra time to get up to speed with its features and options for customisation. We offer fast, free shipping anywhere in Australia, for all Zeller purchases. Sign up for Zeller in minutes. Zeller Terminal and accessories can be purchased online from the Zeller Shop with free express shipping and same-day dispatch. Once you’ve considered these 9 questions, you should have a good idea of the non-negotiables you need from your EFTPOS terminal provider. Remember to always read the fine print and understand what you’re really paying for when you sign the dotted line.

Accepting payments, managing your finances, and paying recipients should be simple. Unfortunately, this isn’t always the case. Our research shows the majority of Australian business owners are dissatisfied with their business banking. The truth is, most merchant services solutions aren’t built to help your business thrive. That’s where Zeller comes in. Today, we’re launching Zeller — giving Australian merchants affordable, accessible, and innovative tools that enable businesses to get paid, access their money, and manage cash flow — without ever having to set foot inside a bank. We’re reimagining business banking through powerful new technology, backed up by local support and personalised service. An innovative SME alternative to business banking “Innovative” isn’t a word usually heard in the context of merchant services. Finding integrated financial solutions to grow and support your business often requires you to weave together multiple products from different providers, which typically means longer processing times, more paperwork, and a more frustrating experience. Large enterprises benefit from financial solutions tailored to their specific needs; traditional banks have shown that they’re more than willing to pour resources into supporting big business. However, this comes at a cost to the everyday Aussies behind our small to medium sized businesses. SME owners are typically forced to fit the traditional banking mold, suffering through archaic onboarding processes only to be hit with high fees, lock-in contracts, and slow processing times when the paperwork is complete. For new business owners, this can present what seems like an insurmountable hurdle to starting and growing a venture. With 67% of businesses stating they would prefer a non-Big 4 bank, it’s clear that Australian business banking is fundamentally broken. A lack of innovation from the incumbents means merchants like you are overlooked and underserved, at a time when they should be thriving. Businesses need new tools, technology, and support to grow. And that’s why we built Zeller. What’s in the box Zeller is all-in-one payments and finance solution for Australian businesses. It helps to accelerate your business cash flow by giving you a next-generation EFTPOS terminal, a free business transaction account, and free business Mastercard, all in one box. 1. Zeller Terminal Our research revealed that 71% of business owners using clunky EFTPOS terminals regularly consider switching providers. High costs and expensive fees, slow deposits that impact cash flow, and a lack of local support are all common reasons for businesses looking to switch. The majority of Australian business owners are dissatisfied with outdated EFTPOS technology currently on the market. Zeller Terminal is an all-in-one card payment and EFTPOS solution. Our next-gen payment terminal allows you to accept every payment from every customer – Zeller Terminal accepts contactless devices, contactless cards, chip cards, magstripe cards, and will soon also accept alternative payment methods such as Alipay and ZipPay. As new payment methods continue to emerge and shape the way Australians pay for products and services, Zeller Terminal will adapt to support Australian businesses to grow. Read more about Zeller Terminal . 2. Zeller Transaction Account We understand that being able to effectively manage and access your cash flow is key to the long-term survival of your business.  That’s why we make sure your funds are available as quickly as possible after taking payment from a customer. Zeller Transaction Account is included free when you sign up for Zeller. Your account is instantly ready to use, giving you real-time visibility over your settlements and spending — no lengthy paperwork required. When you take payment through Zeller Terminal, funds are settled directly into your free Zeller Transaction Account within the day. You also have the option of sweeping your funds into any existing bank account, and they’ll be accessible as soon as your bank allows. Read more about Zeller Transaction Account . 3. Zeller Mastercard By giving you the tools to accept payments, store and settle funds, and spend your money, we're significantly reducing the time it takes for you to get access to your funds. According to the Australian Bureau of Statistics, more than 60% of small businesses close within their first three years — and the most cited cause for business failure is poor cash flow. As a business owner, fast access to your funds to pay your staff, suppliers, or buy product, is imperative. Read more about Zeller Mastercard . By seamlessly combining these services into a fully integrated solution, Zeller significantly reduces the time businesses spend on finding a merchant services provider, completing lengthy applications, getting set up, and connecting disparate payments and financial services solutions — all while speeding up your business’s cash flow. Watch the video to see how Zeller works in more detail. Your business, your way Merchant services should work the way your business needs, allowing you to pick and choose the business banking products you need to sustain and grow a profitable business. With Zeller, you have the option to choose the parts you need – Zeller Terminal, Zeller Transaction Account, and Zeller Mastercard work just as powerfully together as an integrated solution as they do alongside your existing products. Learn more about our EFTPOS machines and how our newly launched products are changing business banking for the better.

Since making the switch to Zeller, Decoy Cafe has resolved its biggest frustration. Coffee is a family affair for the Spathis’. Brothers Bill and Chris have been perfecting the art of brewing for more than 30 years, ever since their first summer holiday job working in the family’s coffee lounge. These days, the coffee connoisseurs can be found on Melbourne’s busy Exhibition Street. Every morning, Bill fires up the roaster and Chris gets to work preparing the kitchen for the busy day ahead. The smell of fresh coffee wafts out into the street, welcoming Decoy’s loyal customers in for their morning cup. But Decoy had a persistent problem. Their EFTPOS terminal, provided by one of the big four banks, would frequently drop out during rush hour — forcing them to rely on an I-owe-you honesty system. We sat down with Bill to understand more about the Melbourne coffee scene, what makes Decoy unique, and how Zeller is helping business run as normal. How did you get started in the coffee business? We’ve always been involved in coffee, it’s in our blood. As kids, we didn’t get school holidays. We would jump on a train and head for the city, to dad’s coffee lounge. We’d arrive early in the morning and help dad take orders, serve customers and make coffees. Then, when my brother and I went to Sydney for a period in the early 90s, we continued the family legacy. We established and ran Retro Cafe for about 15 years, which was next door to Sydney’s State Theatre. It became a bit of an institution. We hadn’t started roasting our own coffee yet, though. Eventually, we came back to Melbourne and landed in Flinders Lane. This is when the cafe scene became very competitive — you had to do something different to stand out from the crowd. So, we decided to roast our own coffee. It’s difficult to roast beans in the middle of the CBD, due to council restrictions, so we ended up finding the site at 303 Exhibition Street. We’ve been roasting here for 14 years now. What’s changed in the three decades since? Back in the 70s, people ordered their coffee so hot it was sacrilegious — but that’s the way most people liked it. There was also far less diversity. At one stage, most people were buying coffee from the supermarket. People are more discerning now. Most are buying their coffees from local roasters. Single origins are our specialty, and we do it well. We roast single origins from Colombia, Costa Rica, Brazil, Tanzania, Ethiopia, Rwanda, Kenya, El Salvador, and beyond. All our beans are roasted in small batches, which helps us to make sure every roast highlights the beans’ unique characteristics and gives more consistency within each batch. The cafe industry has changed dramatically from the 70s to now, and it’s still constantly changing. You’ve got to keep up, whether that’s with a new offering like beans, better service, great staff, or new equipment. Last year, we renovated the cafe and installed a Modbar under-counter coffee machine for a streamlined coffee service. We also recently upgraded our EFTPOS terminals to Zeller. What made you decide to switch EFTPOS terminal providers? We were with one of the big four banks, and we were very unhappy with the number of dropouts. Our EFTPOS terminal would stop processing transactions at peak periods. Our upstairs area would be packed with diners eating breakfast, while downstairs would be busy with takeaway coffee orders and there would be a queue out the door. But the terminals would go down, so none of the customers could pay — they’re not carrying cash these days. We’ve built up a strong customer base. About 95% of our customers are regulars. So, when the terminals were down, we’d take a customer's name and they’d come back the next day to pay us. We don’t have any of those issues with Zeller, so I’m happy to say we don’t need to do that anymore. Our terminal has 4G and WiFi. If the 4G network goes down, WiFi takes over — business continues, as normal. "Taking payment from a customer is simple, as it should be." How did the outbreak of the pandemic affect the business? It's been tough, I won't deny it. We have a great product and a loyal customer base and that's allowed us to keep going. The COVID-19 pandemic and lockdowns impacted sales, as we lost all our corporate customers when offices emptied out in Melbourne's CBD. What's kept us going is essential workers and tradespeople from nearby building sites and an increase in the number of  “home barista” customers — people buying their coffee beans from us to make their own coffee, while working from home. Tell us about working with family. We believe that being a family business has helped us succeed and stay resilient even in these challenging times. Chris and l have worked together from the very beginning, starting in our late father’s restaurant as young boys. We work well as a team and I think it’s part of what makes Decoy a success. A lot of cafe owners these days will hire a manager, but we’re owner-operators, and there’s always one of us here. We do that because we really love working with customers. We give 100% when it comes to quality, service and staff. Chris and I share those values. We rely on each other. Decoy Cafe is located at 303 Exhibition Street, in Melbourne's Central Business District. Drop by for your morning coffee, a quick snack, or lunch, or pick up a bag of fresh coffee roasted on-site (also available on the newly-launched Dark Horse Coffee Roasters website).