Introduction

Commbank POS

An Overview of Australia's Leading Payment Solution:

If you're looking for a reliable point-of-sale (POS) system, CommBank EFTPOS is worth considering. Despite being Australia's largest financial institution, CommBank is often overlooked when it comes to selecting a POS system. However, their POS software and hardware offerings are well-respected in the industry, and chances are you've already used one of their terminals in the last few days.

CommBank EFTPOS is an ideal option for businesses that already use BigCommerce for their inventory management and payment processing needs. With CommBank, you can synchronise your existing software with proven, reliable hardware backed by one of Australia's top banks.

CommBank offers two POS terminals: Smart and Essential Plus. The Smart terminal is ideal for businesses that need to take payments on-the-go, while the Essential Plus terminal is more suited for businesses that require an integration with their existing POS system. Let's take a closer look at the pros and cons of using CommBank EFTPOS:

Pros:

BigCommerce Partnership:

If you're already using BigCommerce to run your business, CommBank offers an online payment gateway that you can easily integrate with your existing website. As one of Australia's largest e-commerce platforms, BigCommerce supports tens of thousands of merchants, making it an ideal choice for your online store.

Recurring Payments & Billing Options:

While CommBank EFTPOS is primarily designed for retail POS, it also offers functionality for service providers. With BPOINT, powered by CommBank, you can set up recurring payments and billing options. You can even establish intelligent billing rules to reconcile customer payments with ease.

Low Fees:

Compared to other options such as Square, Lightspeed, and Shopify, CommBank offers much lower fees. You'll only need to pay a $29.50 monthly hardware rental fee and a 1.1% transaction fee on card payments. If your revenue is higher than $1 million, you can even speak with CommBank about customising your pricing package for your specific business, which may lead to further reductions.

Expert Tip: Speak with CommBank to negotiate an even better rate.

Cons:

No Inventory Management:

CommBank EFTPOS lacks inventory management features, so you'll need to keep track of your stock separately. Additionally, you won't be able to scan barcodes or automatically add up a customer's bill through your EFTPOS terminal. You'll need to integrate it with other POS software on a computer or smart device.

Limited Add-Ons And Features:

Compared to other POS systems, CommBank EFTPOS is very limited. It lacks the endless customizability of Square, Lightspeed, and Shopify, and doesn't offer advanced tools or features. Its primary focus is on payment processing, and not much else.

In-Depth Application:

Before you can begin using your CommBank EFTPOS system, you'll need to submit a lengthy application. As a financial institution, CommBank's application process is thorough and bureaucratic. You'll need to ensure that you qualify for this POS system, have a registered business trading name with ASIC, and an accredited POS vendor, among other requirements.

CommBank EFTPOS Criteria: Score:

Ease Of Use: 4/5 Fees: 4/5 Scalability: 4/5 Business Management Tools: 4/5 Support: 4/5

Conclusion:

Overall, CommBank EFTPOS is a straightforward POS system that's suitable for certain businesses. If you're looking for a device to process credit card payments and already have a POS software you like, CommBank's terminals are an excellent add-on. On the other hand, if you're an established business with a BigCommerce-powered back end, CommBank is an even better choice, thanks to its seamless native integration.

Integrations:

Commbank POS is a stand-alone POS payment solution and while it does have some eCommerce integration capability it does not integrate with many other Apps.