5 Payment Methods Your Customers Expect in 2026 (And the Fee Impact)
Ppaicompare
PaiCompare
The 2026 Payment Method Shift
Customers in 2026 expect options. Gone are the days of Visa and Mastercard only. Here’s what your business needs to support and what each costs you.
1. Contactless Payments (Dominant)
What it is: Tap-to-pay with debit cards, credit cards, and mobile wallets.
Cost: Same as the underlying card (debit is cheaper than credit).
Why it matters: This is now 85% of card transactions. If your terminal doesn’t support contactless, you’re losing sales.
2. Mobile Wallets (Apple Pay, Google Pay)
What it is: Phone-based payments.
Cost: Exactly the same as the underlying card.
2026 Update: Apple Pay and Google Pay have become mainstream. Expect 30-40% of contactless transactions to be mobile wallets in 2026.
3. Buy Now Pay Later (BNPL)
What it is: Afterpay, Zip, Klarna, and similar services.
Cost: 2.0-6.0% per transaction (much higher than cards).
2026 Reality: BNPL is now being regulated. Fees have come down, but they’re still significantly more expensive than cards. Only offer it if it drives incremental sales.
4. Bank Transfers & Open Banking
What it is: Direct bank-to-bank transfers using open banking.
Cost: $0.20-$0.50 per transaction or a flat monthly fee.
2026 Opportunity: Open banking is maturing in Australia. Using direct bank transfers can cut your fees by 50% compared to cards if your customers will wait 1-2 days for processing.
5. Cryptocurrency (Niche)
What it is: Bitcoin, Ethereum, and stablecoins.
Cost: Varies widely (0.5% to 3%).
2026 Reality: Still niche (under 1% of transactions) but growing. Only implement it if your target demographic demands it.
Fee Comparison Table
METHOD
TYPICAL COST
MAINSTREAM
RISK
EFTPOS
0.5%
Yes
Low
Debit Card (Contactless)
0.6%
Yes
Low
Credit Card
1.2%
Yes
Low
Mobile Wallet
0.6% (via card)
Yes
Low
BNPL
3.5% avg
Growing
Medium
Bank Transfer
0.1%
Growing
Low
Crypto
1.5%
Niche
High
The 2026 Strategy
Support contactless (both cards and mobile wallets) and treat this as non-negotiable
Evaluate BNPL only if it drives incremental sales for your business type
Monitor bank transfers because they could be the cost-saver of 2026
Skip crypto unless your demographic demands it
Calculate Your Mix
Use our calculator to see how different payment methods affect your blended rate. Input your expected mix and we’ll show you the impact.
Calculate My Blended Rate
Ready to reduce your merchant fees?
Compare Australia's top EFTPOS providers and see how much you could save.
