eftpos eftpos today launched an advertising campaign to show Australia’s small businesses how to reduce costs as they rebuild after COVID-19.
The six-week campaign will help inform merchants about how they can potentially reduce the fees they pay to accept tap card transactions on dual-branded debit cards by routing them through eftpos opposed to international payment companies.
Known as Least Cost or Merchant Choice Routing, the method can lead to significant savings of up to 40% on transaction fees from debit cards, Australia’s most popular form of payment.
“Right now in Australia, nothing is more important for Australian business owners than protecting cash flow,” says eftpos CEO Stephen Benton.
“There are many things outside their control such as labour costs and utility bills, but they may be able to reduce the cost of receiving payments by Least Cost Routing.
“With debit cards accounting for more than 70% of card transactions in Australia and more consumers moving away from cash after COVID-19, routing has the potential to deliver significant savings for many thousands of small and medium businesses across the country. In turn, these cost savings could also flow to customers in the form of lower prices or reduced surcharges.”
The campaign launched across Oh!media retail and street furniture assets in targeted Sydney and Melbourne suburbs.
oOh!media Chief Sales Officer Tim Murphy says the campaign provides important information that supports Australian businesses and, in turn, the nation’s economy.
“It’s great to see eftpos continue to reach out to the Australian business community, reducing its own wholesale fees and encouraging savings for tens of thousands of retailers and other merchants through Out of Home,” he says.
There are around 35 million dual-branded debit cards in Australia, featuring the eftpos logo on the back and an international scheme on the front.
The eftpos campaign runs across outdoor, digital and social media, as well as radio and print publications. It’s the first significant advertising by eftpos in three years.
“The Reserve Bank has promoted Least Cost Routing for many years as a way of reducing costs for merchants, and has urged the industry to promote the service more widely,” says Benton.
“The message of this campaign is simple – contact your bank or acquirer to find out what savings you can make by routing through eftpos.”
eftpos is Australia’s debit card system, accounting more than 2 billion transactions in 2019 worth around $130 billion.
The campaign has been developed by:
Internal eftpos lead: head of marketing, Ant Dumont
Agency: The Joy Agency
Strategy: Andrew Wynne, Nicole Milward
Account Service: Sarah Ashe, Jayde Machell
Creative: Ben Pearce, Dan O’Bey, Nicolai Henriksen, Kath Hunter, Oscar Birken
Media: Amelia Thackway, Natasha Tomassini, Irnin Khan, Jessica Loi, Matilda Jesiolowski
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