Under the new deal, players in May's tournament will earn between $500 and $1,000 per match and be put on six month retainers of up to $17,000.00.

The three-tiered contract system will take in the 23-woman squad who will be offered new six-month contracts that will take them through to the AFC Women's Asian Cup 2010 to be held in Chengdu, China, between 19-30 May. 

"The new agreement reflects the importance FFA places on women's football and the national team," said Head of Women's Football Leeanne Grantham.

"Under the retainers the new Westfield Matildas contracts have increased substantially, providing for regular monthly income and match payments relating to the AFC Asian Cup, which is great news for the players."

PFA chief executive Brendan Schwab welcomed the new deal.

"We are determined to work with FFA to make football the sport of choice for elite athletes of both genders," Mr Schwab said. 

"This agreement is a significant step towards the development of a professional career path for our best women footballers.

"The new arrangements are a significant improvement on the previous agreement and are a result of constructive negotiations between all parties. 

"As well as an increase in payments there are some other new conditions that will make being a Westfield Matilda much more beneficial."

Schwab also acknowledged the excellent support for the negotiations shown by the PFA's Matildas Committee, which consists of Melissa Barbieri, Lauren Colthorpe, Heather Garriock, Kate McShea and Sarah Walsh.

The Westfield Matildas squad is selected by Head Coach Tom Sermanni who ranks the players on their performance in national team competition duties and camps.

A new arrangement will be negotiated by July to take the Westfield Matildas through to the 2012 Olympics.