How will I determine if I’m are making any savings once Wave & Save is enabled?
If you enable the Wave & Save EFTPOS solution, scheme debit card contactless transactions made over the Wave & Save transaction limit**, but under any applicable EFTPOS maximum daily card limits, will be routed through the EFTPOS network. This will help them take steps to ensure that scheme debit card contactless transactions will be processed through the EFTPOS network where the associated transaction fee will be lower, when compared to the credit card fee charged for the same transaction value.
The Wave & Save EFTPOS Solution may help ensure that the lower EFTPOS fees are charged when compared to the applicable credit card fee for the same transaction. Doing so will help you take steps to reduce your overall merchant costs. While this may depend on the nature of their business, you can compare your overall merchant fees with the Wave & Save EFTPOS solution enabled, with a previous month of the same merchant activity without the Wave & Save EFTPOS solution, to see the level of savings you may receive.