Banks in Australia offer complete payment solutions for your business. Whether that be in store via a  Eftpos machine or online via a Ecommerce payment gateway. The solution is called a merchant facility.

The online payment system comes in two forms. Accepting payment on your website or what is called a  hosted webpage where the payments happens on the banks webpage.

Accepting payment on your website you will need a secure server to process the transaction, and you will need to constantly keep up the maintenance on your site so that is secure .This sort of payment system is fine if you are processing a lot of transactions and want continuity in the look and functionality of your site and can afford IT security experts to maintain the site. Other wise having a hosted payment solution becomes a very viable solution.

Ecommerce solutions by bank generally include fraud protection as part of package.

The cost are generally in the range of .9% to 2.9% percent of transaction ,depending on volume plus and the type of transaction.

One of the pros of having a payment solution from a bank is that generally  the funds from the transaction are cleared within 24 hours or under and in your bank account.

It is worth finding out how easy it is to integrate the payment gateway into your website / ecommerce store. Some banks will have a plugin which you simply upload to your site and you’ll be up and running in minutes other will require IT development work to integrate on your site. Most bank will have  a list of shopping cart that they support. There are third party plugins that may do the job.