What to know when accepting payments online

Why accept online payments?

In 2024, 9.8 million Australian households spent a record $69 billion online, up 12 per cent from the year before.¹ So, it’s no surprise that businesses of all sizes are moving online to meet customer expectations.

Here’s why accepting payments online matters:

• Convenience: customers can pay any time, anywhere 
• Faster transactions: reduced delays and improved settlement times
• Better cash flow: less invoice chasing
• Enhanced trust: secure, professional payment experiences build confidence

Who could benefit from accepting payments online?

Almost any business can benefit from online payments, including:

• Retail and eCommerce stores
• Professional services (consultants, accountants, legal firms)
• Hospitality and tourism
• Trades and home services
• Health and fitness providers
• Education providers and schools

Even traditionally offline businesses can use online payment systems for invoices, deposits or to offer recurring payments.

Considerations when accepting payments online

Before you start accepting online payments, it’s important to understand some key factors involved.

Fees & charges

Transaction fees, set-up costs and monthly service charges vary between providers. Compare costs against potential benefits before committing. 

Supported payment methods

Look for solutions that offer a range of payment options to suit your customers’ preferences. This could include major credit and debit cards, digital wallets and buy now, pay later services. 

Customer experience 

A smooth, fast and secure checkout process can improve customer satisfaction and reduce cart abandonment. Features to take note of include fast page load times, mobile-friendly checkout and clear error messages.

Refunds & chargebacks

Understand how disputes and refunds are handled. Can you issue partial refunds? Is the refund process straightforward?

Live support

Quick access to help can prevent lost sales. Understand what live customer support is available. As a CommBank customer, you’ll enjoy  around-the-clock live payment support.

Consider a shopping cart

This is a virtual shopping basket where customers add items to calculate the total cost of their purchases. Ideally, you should be able to integrate the shopping cart with your payment gateway. CommBank’s BPOINT and CommWeb  integrate with a range of shopping cart providers.

How to accept payments online

Payment gateway solutions

We’ve got a range of tailored payment gateway solutions to help you accept payments in the way that best suits your customers and your business.

• PowerBoard: accept online payments in one easy platform. Supports cards, digital wallets and alternative payment methods, with strong security.

• BPOINT: a secure way to take card and bank payments. Great for recurring, phone or online transactions.

• CommWeb: customisable gateway for online payments. Ideal for businesses needing flexibility and fraud protection.

• QKR for schools: a mobile app that makes it easy for schools and parents to manage payments – including canteen orders, uniforms, excursions and school fees – all in one secure platform.

Billing and invoicing tools

To make it easier to track and reconcile payments, you can use billing and invoicing solutions alongside your payment gateway.

• BPOINT: process online or phone payments and track them in real time.

• BPAY for business: a trusted way for customers to pay using internet or mobile banking.

• Direct debit for business: ideal for scheduled payments, subscriptions or recurring invoices.