Every SMS to an Australian mobile lands on Telstra, Optus or TPG. What varies is how many hops it takes to get there, and that single fact explains most of the delivery-rate difference between providers with similar published prices.
Direct interconnect means the provider has a commercial relationship with the Australian carriers and hands your message over directly. Fewer hops, better delivery, faster delivery receipts, and the sender ID arrives intact.
International aggregation means the message travels through one or more intermediaries, possibly offshore, before reaching an Australian carrier. It's cheaper, and it's where the delivery complaints come from: messages that arrive late, arrive with a rewritten sender ID, or don't arrive at all, with a delivery receipt that says they did.
If a quote is dramatically below the others, ask which route it uses. Some providers sell both and let you pick, which is the honest arrangement.
Also check the status page and incident history. SMS failures are close to invisible from your side, the message left, and then nothing happened, so a provider with published incidents and delivery receipts you can trust is worth paying a little more for.