ANZ merchant account services. The costs, requirements and need-to-knows.

As the world becomes increasingly reliant on technology many businesses are taking advantage of the power of the internet to sell their goods and services online to people around the globe. If you want to enter the world of eCommerce, then something to think about is how your customers will pay for your products.

One of the major banks in Australia is ANZ and together with ANZ Worldline they offer a variety of eCommerce payment solutions and merchant services to business customers. The product we’re going to focus on is ANZ eGate.

In this article we’ll take a look at what ANZ eGate is, the features it comes with and how the fee structure works. We’ll also let you know how Wise can help make selling products overseas a little cheaper.

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What is the ANZ merchant account service and how does it work?

As we mentioned earlier, ANZ offers a few different merchant solutions through their partner ANZ Worldline. Three of those solutions help businesses to accept online payments through websites.¹

• ANZ eGate
• ANZ Secure Gateway
• ANZ ePOS

ANZ eGate

The ANZ eGate account offers a secure payment gateway that your customers can use to purchase products and subscriptions online or over the phone.² You can also use it to issue invoices to clients that are payable via a personalised link.

Along with the eGate you’ll get access to the ANZ eGate Merchant Portal.² This administration portal is how you control the account and view your information, including some of the following actions.

• Monitor cash flow
• Set up direct debit payment plans and manual subscriptions
• Complete manual refunds
• Prepare merchant reports
• Create invoices with customised links

ANZ Secure Gateway

The ANZ Secure Gateway offers greater customization options than the simpler ANZ eGate.¹ It might be suitable for your business if you’re looking for some or all of the following features.⁴

• Accept payments online and/or over the phone
• Process scheduled payments
• Use tokenisation
• Offer in app payments

ANZ ePos

The ANZ ePos is a bit different to the other two because it doesn’t come with a payment gateway. Instead, it focuses solely on internet merchant facilities. Here’s the main needs this type of account could fulfill.⁵

• Integration with your existing third party payment gateway or one you want to use
• Internet merchant facilities that support payments online and over the phone

The pricing structure for ANZ eGate merchant account services

The pricing for the ANZ eGate merchant services offered by ANZ’s partner ANZ Worldline varies depending on a range of factors, but overall it’s a combination of service fees for card processing and other ongoing or once-off fees.³

While the exact fee structure is customised to each business, there are three ways the merchant pricing is decided.³

• Single Rate Pricing
• Differential Rate Pricing
• Interchange Plus Pricing

Single Rate Pricing

The simplest form of pricing is Single Rate Pricing.³ It’s generally more suited to small to medium sized businesses that prefer to have one fee rate for Visa and Mastercard transactions.

Here’s some of the main fees this form of pricing offers.³

• Agreed monetary fee for all EFTPOS machine debit card transactions (cheque/savings) which is charged per transaction.
• Agreed percentage fee that applies to the value of all UnionPay transactions.
• Agreed percentage fee that applies to the value of all Visa and Mastercard transactions.

Differential Rate Pricing

For small to medium businesses that would rather differentiate the pricing between different types of cards there is the Differential Rate Pricing option.³ This option may be more suitable for you if most of your customers pay with a certain type of card.

This is a quick overview of the main fees of this pricing type.³

• Agreed monetary fee for all EFTPOS machine debit card transactions (cheque/savings) which is charged per transaction.
• Agreed percentage fee that applies to the value of all UnionPay transactions.
• Agreed percentage fee rates that are differentiated between transactions made each of these card types.
  - International
  - Visa and Mastercard Credit Standard
  - Visa and Mastercard Credit Premium
  - Visa and Mastercard Credit Premium Plus
  - Visa and Mastercard Debit Standard
  - Visa and Mastercard Debit Premium

Interchange Plus Pricing

This pricing method is more aimed at larger businesses and corporations who are looking for variable pricing that’s subject to the interchange prices set by each card type.³

Here’s an overview of some of the main fees this form of pricing involves.³

• Agreed monetary fee for all EFTPOS machine debit card transactions (cheque/savings) which is charged per transaction.
• For UnionPay the fees are based on the type of transaction and interchange categories specified by UnionPay.
• For Visa and Mastercard the variable fees are based on the type of transaction and interchange categories specified by Visa and Mastercard.

The features and the main benefits of using ANZ merchant account services

Here’s some of the main features and benefits of using the ANZ eGate merchant services.²

• Integrates with a wide range of Shopping Cart plugins including Opencart, Magento 2, WooCommerce and PrestaShop.
• Range of payment methods for customers including debit card, Apple Pay and Google Pay.
• Supports subscription payments, instalment plans and auto account top ups.
• Create online invoices with personalised payment links.
• Batch loader to process up to 100k transactions at once.
• Access to the ANZ eGate Merchant Portal.
• Enable card on file storage for return customers.

How to open a ANZ merchant account

To open an ANZ eGate account you need to contact ANZ either through their online form requesting a call back or calling 1300 366 988.

Before you reach out it’s a good idea to collate the information they’re likely to ask for. Here’s an idea of what that might include.

• Your position in the company
• Names and contact details of the company directors or owners
• Name, address and contact details of the business
• Australian Business Number (ABN) of the business
• What commercial activities the business is involved in

What to keep in mind if you go with an ANZ merchant account.

Something to keep in mind is that for the ANZ eGate to work with your website you’ll need to be using a shopping cart or eCommerce platform that can integrate with the Mastercard Payment Gateway Services (MPGS).²

Contacting ANZ merchant account support

If you have any questions about the ANZ eGate or any of ANZ’s merchant services you can contact their customer service agents on 1300 366 988.

Wise Business account and Stripe

While deciding which merchant services to use for your business it’s a good idea to investigate a few different providers to make sure you’re getting the most suitable and cost effective deal for your situation. If you're involved in international business then a Wise Business account which integrates with payment management service like stripe may be for you.

Using a Wise Business account you can add, store and send 52 different currencies through a single account. This makes it a bit simpler to sell products overseas. Any currency exchanges are completed using the real exchange rate, just like you see on Google, and there’s no hidden fees to think about.

To be able to receive payments through your website you can connect Stripe, a payment management software to your Wise Business account. The Stripe software can be integrated into your website and is comparable with a range of customer payment methods including Masterpass by Mastercard, Visa Checkout, Google Pay and ApplyPay.

Once you’ve received a payment through Stripe it can be moved to your Wise account. Depending on the currency you should be able to ust withdraw the funds in whatever currency they’re in and only be converted to AUD when you’re ready. This helps you save money on poor exchange rates and conversion fees.

The Wise Business account also offers a number of business tools including business debit cards, API integrations and accounting software integration.

If the Wise Business account sounds like it might work for you, you may as well try it out for yourself. There’s no monthly account fees to worry about and registration can be done in minutes.

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