Live Eftpos - 1 Qantas Point per $1 received for Merchants

[BillytheFIsh]

I saw this in an email from Qantas Business Rewards which I hadn't seen before:

https://www.qantasbusinessrewards.com/earn-points/liveeftpos

Live eftpos black is one of the world's smallest, most technologically advanced mobile payment device. Incorporating advanced technology, sleek design and incredibly durable construction, the device is ideal for restaurants, hospitality, delivery, transportation or for any other business that thrives on pay-anywhere, pay-anytime convenience.Features include:

1 Qantas Point per $1 transacted

• Uncapped Qantas Points earning potential
• Unique ability to earn Qantas Points through your payment device. No other comparable service available.
• Free power bank on sign up
• 24/7 online member portal and detailed transaction history
• Dedicated Relationship Manager for improved business performance
• Increased network coverage via a state-of-the-art Global Wireless Access (GWA) payment network solution
• Bank certified payment device

The actual website is here, but other than saying it uses a blended pricing structure depending on volume, it doesn't provide any figures:

https://www.liveeftpos.com.au/black/

I imagine the merchant fees are higher than usual to compensate. Does anyone have any experience with Live or know what their merchant fees are like?

 

[andyhui01]

I wonder what the fees are. I've tried reading but its hard on a mobile, Is there a cap on number of points earned? If the fees are comparable, that is a couple million points / year for me.

 

[BillytheFIsh]

It does say it has "uncapped Qantas Points earning potential", and to get the 20K bonus points it says:

New customers will earn 20,000 Qantas Points when they transact a minimum of $45,000 within 60 days after the account has been approved.

So they're obviously contemplating people putting reasonably substantial amounts through it. As you say, it will all come down to the fees.

 

[lovetravellingoz]

Found THE FINE PRINT via google: https://www.liveeftpos.com.au/LEMerchantTnC.pdf

 

[lovetravellingoz]

Also found this comment on another forum:

[FONT=&quot]transaction fee is a fixed percentage. my rep told me its calculated according to approximate monthly volume and industry that you are in. he told me that they review it monthly and the more volume you put through the lower the transaction fee[/FONT][FONT=&quot]
[/FONT][FONT=&quot]
So it looks like fees vary and you will need to talk to them to see what the fees will be.[/FONT][FONT=&quot][/FONT]

 

[Danger UXB]

Interested in the fees . subscribing

 

[detrimental]

Hi all,

I have recently signed up to Live Eftpos. The terminal itself is a little slower than our previous terminal (Commbank) so am just trialing it to see how it goes.

The fees are:
2.5% Visa and Mastercard
2.1% Eftpos transactions

Monthly fee of $49. Free eftpos rolls for life of terminal. Fees may decrease over time with increased spending. We will spend around $40k/month on the terminal.

Hope this helps. A comparison rate to other banks is anywhere from 0.81% to 1.2% with a similar monthly charge.

 

[andyhui01]

wow. thats expensive. Valuing the ff points at $0.01ea still makes it at 1.5% and 1.1%

 

[moa999]

Still I guess if it's your business, its a way to 'buy' points but have them as a business expense.
But yes - sure seems expensive

Albeit many of the companies offering QFF points are like this - they use the points as a hook to get people so they don't compare against others

 

[Scr77]

Hi all,

I have recently signed up to Live Eftpos. The terminal itself is a little slower than our previous terminal (Commbank) so am just trialing it to see how it goes.

The fees are:
2.5% Visa and Mastercard
2.1% Eftpos transactions

Monthly fee of $49. Free eftpos rolls for life of terminal. Fees may decrease over time with increased spending. We will spend around $40k/month on the terminal.

Hope this helps. A comparison rate to other banks is anywhere from 0.81% to 1.2% with a similar monthly charge.

Did these fees decrease from 1 July? Has anyone noticed any merchant reducing their fees to justify the RBA changes?