Payment & Merchant Services
EFTPOS FAQs

Least Cost Routing (LCR), also known as ‘lowest cost routing’, ‘low-cost routing’, ‘merchant routing’ or ‘smart routing’ is the industry terminology used to explain the new routing functionality on merchant terminals for scheme (Visa/MasterCard) debit card contactless transactions.  The introduction of least cost routing is to help merchants take steps to ensure that debit card contactless transactions are processed through the lower cost payment channel.

Based on a Merchant’s pricing plan, a Wave & Save Transaction limit** is set to a default position where the transaction amount costs the same to process via both the EFTPOS and Credit Card network.  Scheme debit card contactless transactions valued over the limit will route down the EFTPOS network and you will be charged the debit card fee.

Some debit card issuers may set a maximum daily card limit on EFTPOS debit card transactions, usually $1000**, meaning once this limit is reached, transactions will be processed via the credit card network.

Any scheme debit card contactless transactions valued equal to or under the transaction limit will continue to be processed via the credit card network and be charged the credit card transaction fee.  Setting the right transaction limit helps to take steps to ensure you are charged the lower transaction fee for scheme debit card contactless transactions

For Existing Suncorp Bank Merchants

Use our Wave & Save Transaction Limit Calculator.

Enter the Merchant Service Fee % and the Debit Card Fee in the green fields as per a merchants pricing plan.  Press enter.  The dollar amount displayed is the transaction amount where the costs are the same to process via both the EFTPOS and credit card network. This transaction amount will be set as the default position for their Wave & Save Transaction Limit**.  

For New merchants

Your Wave and Save Transaction Limit will be calculated based on your new pricing plan with Suncorp Bank.  The transaction limit will be set to a default position where the transaction amount costs the same to process via both the EFTPOS and Credit Card network.  Our Business Specialist will let you know your transaction limit during the application process.

The least cost routing functionality only works with payments made using a physical card. Payments made using a phone or any other device (i.e. a watch), will still be routed via the credit card network.

There are two options to enable Least Cost Routing on an existing merchant terminal:

1. Head to our Merchant Services page to download the ‘Misc changes to terminal’ form. Complete the form and send to the email address specified.

Or

1. Contact one of our Business Specialists on 13 11 55.