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Important Legal Information for Tyro Partners

This page contains important disclaimers and legal information that apply to various assets and materials shared with our valued partners. Please review these terms carefully before sharing Tyro resources.

Product

Disclaimer
EFTPOS or eCommerce only Tyro Payments Limited ACN 103 575 042 AFSL 471951 (Tyro) may pay financial benefits and/or referral fees to its partners. In providing information about Tyro and its product/s, Tyro partners are not providing financial advice and are only acting as a referrer. All enquiries about Tyro products are referred to Tyro to contact you about its products and provide you with a quote. You can contact Tyro on 1300 00 TYRO (8976) or http://tyro.com/support/ and access Tyro’s dispute resolution process at http://tyro.com/complaint-resolution-process/.
Financial Service

  • Tyro Bank Account
  • Tyro Term Deposit
 Tyro Payments Limited ACN 103 575 042 AFSL 471951 is the issuer of its own financial products. As Tyro does not take into account your personal circumstances, please consider if these products are suitable for you. T&Cs available at tyro.com. You can contact Tyro on 1300 00 TYRO (8976) or http://tyro.com/support/ and access Tyro’s dispute resolution process at http://tyro.com/complaint-resolution-process/. Tyro may pay financial benefits and/or referral fees to its partners. In providing information about Tyro and its product/s, Tyro partners are not providing financial advice and are only acting as a referrer. All enquiries about Tyro products are referred to Tyro to contact you about its products and provide you with a quote.
TBA Interest Rate 1.45% payable for funds held in the Tyro Bank Account for longer than 90 days. Interest is calculated daily and paid monthly. Interest rates are variable and subject to change.
TBA Same Day Settlement Settlements are paid 7 days a week when you meet the following eligibility criteria:

  • The daily takings from your Tyro EFTPOS and/or eCommerce facility are settled into the Tyro Bank Account; and
  • The Flexible Settlement Allocation feature is configured to leave a percentage of your daily takings in the Tyro Bank Account each day.

Available settlement times are from 8pm to 5am (Sydney time). Excludes Alipay, HealthPoint and funds settled directly by Afterpay, American Express, and JCB.
TBA Flexible Settlement Settlements are received daily for Tyro settled funds (including American Express and JCB with Tyro Direct Settlement agreement) – excludes Alipay, HealthPoint and funds settled directly by Afterpay, American Express, & JCB. For Flexible Settlement Allocation, depending on your banking provider it may take up to 3 business days to receive funds into your Linked Account.
No Cost EFTPOS Example: Recoup the costs of your EFTPOS machine and enjoy a $0 monthly bill by passing on a surcharge to your customers.* No Cost EFTPOS may not enable you to recover all your costs of taking electronic payments with Tyro. It does not cover:

  • your EFTPOS machine rental if you transact less than $10,000 per month (excluding Alipay transactions and transactions processed and settled to you under a separate agreement with American Express or JCB) using your Tyro EFTPOS facility;
  • any transaction where you manually impose a surcharge (for example, usingyour POS software) or disable Tyro’s surcharging feature;
  • any fees that are associated with your POS;
  • if you have Tyro eCommerce or otherwise use your Tyro facility to accept electronic payments online, the costs of accepting those electronic payments;
  • if you have a separate agreement with American Express and/or JCB which governs how transactions are processed and settled to you, any fees payable to American Express and/or JCB based on that agreement;
  • EFTPOS machine rental for any EFTPOS machines you rent from us, or any EFTPOS machine paper rolls you purchase from us, that exceed your reasonable business needs; or
  • any optional accessories that you purchase from Tyro.
No Cost EFTPOS (when speaking specifically to no rental costs) If you accept less than $10,000 in transactions (excluding Alipay transactions and transactions processed and settled to you under a separate agreement with American Express or JCB) using your Tyro EFTPOS facility in a particular month, you will be charged EFTPOS machine rental for each EFTPOS machine that you rent from Tyro.
Dynamic Surcharging Dynamic Surcharging is available for Mastercard, Visa, eftpos, UnionPay, American Express transactions. The Dynamic Surcharging feature is not available for eCommerce transactions or to customers on No Cost EFTPOS pricing. By default, we do not include your EFTPOS machine rental costs into the calculation of your cost of acceptance, however you may choose to apply these costs into your calculation of your cost of acceptance via the Tyro Portal subject to the surcharging rules as set by the RBA and enforced by ACCC and, in relation to American Express transactions, the American Express Merchant Operating Guide (found at americanexpress.com.au/merchantopguide).
Virtual Terminal & Payment Links Card-not-present transactions, including transactions using Payment Links and Virtual Terminal, involve a higher fraud and chargeback risk than transactions where the card is present. You, not Tyro or the cardholder, are liable for all chargebacks: see the Electronic Payments Facility Terms and Conditions at tyro.com/terms-and-conditions/ . For further information about the risks associated with chargebacks, please refer to Tyro’s Chargebacks and Disputes Guide at tyro.com/blog/chargebacks-disputes-guide/ . For any transactions processed through Payment Links and Virtual Terminal, you will be charged a rate of 1.4% (incl. GST) of the transaction value per transaction for Visa and Mastercard domestic and international card payments. You will be invoiced for transactions processed through Payment Links and Virtual Terminal, even if you are on a No Cost EFTPOS pricing structure. Payment Links come with 3-Domain Secure (3-D Secure or 3DS) which is a security protocol that adds an additional layer of security to online purchases by requiring cardholders to authenticate themselves with the card issuer when making payments. It helps to prevent unauthorised online transactions, reducing the risk of fraud, and can protect you (merchant) from chargebacks if the transaction is authenticated successfully. Some business types (MCCs) may be excluded from card-not-present transactions, using Payment Links and Virtual Terminal.