In Australia, when you receive a debit card from your bank, it usually comes as a dual-brand card. These dual-branded cards support transacting over international scheme networks like Visa and Mastercard, and the local domestic debit network, eftpos.
Until recently, eftpos transactions were limited to those made with a physical debit card presented at the terminal, also known as card present transactions. For online (card not present) transactions, the only option was to use the international scheme networks.
eftpos now supports online transactions - which provides the option to send domestic debit card transactions to eftpos, for most transaction types.
How does Pin Payments support Least Cost Routing?
We have introduced support for Least Cost Routing (LCR) for all our Australian merchants. When your customers make domestic currency payments using a dual-network card, we will automatically attempt to route these transactions through the network with the lower costs.
This strategy enables us to offer you competitive transaction pricing, in trying to help support your business.
Even if a transaction qualifies for eftpos, there may be instances where we route a transaction to the international schemes to prevent your transactions from failing. For example, if an unexpected event from eftpos occurs while routing a transaction, we will reattempt routing the transaction over the international schemes.
