11 August 2021

Bendigo Bank and Tyro proposition comes to life

Simpler, high speed payment processing now available for new and existing business banking customers

Bendigo Bank and Tyro have successfully launched their new Bendigo Bank EFTPOS/eCommerce powered by Tyro merchant payment services to all new and existing business banking customers.

The optimised payments processing system is now available to all businesses eager to improve their overall efficiency and customer experience.

Put simply, the new offering provides businesses with a range of new benefits including:

  • Simple, secure, and high-speed payment processing
  • Automated surcharging and tipping
  • Seamless cloud-based Point of Sale and Practice Management Software integration including support for the latest POS providers, SplitBills, and Pay@Table
  • Improved visibility and insights with a new web portal and mobile app, including e-statements
  • 24/7 local phone support
  • Omni channel eCommerce and EFTPOS. Customers that accept payments in store and online can see their takings in one location and on one statement
  • One statement for all transactions including American Express and Alipay
  • Health businesses can also accept private health insurance claiming and Medicare rebates

The new Bendigo Bank EFTPOS/eCommerce powered by Tyro payment solutions have been developed following the establishment of an alliance with Tyro Payments in October 2020 for it to become the Bank’s exclusive merchant acquiring partner for its business banking customers. The partnership reduces the number of Bendigo Bank’s merchant partners from seven to one.

Bendigo Bank EFTPOS/eCommerce powered by Tyro fuses the Bank’s strength of brand, partnering expertise, breadth of distribution channels, geographic footprint, and relationship-focused Business Banking capability, with Tyro’s extensive merchant acquiring technical expertise.

Bruce Speirs, Executive, Business Banking, Bendigo and Adelaide Bank, said the Bank looks forward to seeing more business customers make the switch to the new faster and simplified payment solutions powered by Tyro.

“By switching to Bendigo Bank EFTPOS/eCommerce powered by Tyro, existing business banking customers are continuing to enjoy all the features they already love – including next day settlement into Bendigo Bank accounts – while also gaining access to a range of new features such as high-speed payment processing, automated surcharging and tipping, and seamless cloud-based Point of Sale and Practice Management Software integration,” Mr Speirs said.

“For new business customers, signing up to Bendigo Bank EFTPOS/eCommerce powered by Tyro offers them the opportunity to reduce business complexity, increase efficiencies, and improve the overall payments experience for their customers.

“Our Business Banking offering is built on more than 160 years of strong customer and community relationships, and specialist expertise. We deeply understand Australian business and we believe these new product offerings will help both new and existing customers alike, to better service their customers improve productivity and ultimately grow their businesses.”

Robbie Cooke, CEO and Managing Director, Tyro said he was delighted to see the Bendigo Bank and Tyro alliance come to life. This is a fantastic example of two customer-focused Australian companies, with a shared commitment to the SME sector, coming together to offer new and exciting payments solutions to Australian businesses.

“The payments landscape is changing rapidly, with most businesses now recognising the importance of having innovative payments solutions to attract and retain their customers. We welcome all our new customers from Bendigo Bank and are excited to provide them with our simple and effective payments solutions that will free them up to focus on their core businesses and customers.

“I am also enormously proud of both of our teams and the incredible effort that has gone into bringing this partnership to life in a short period of time, showcasing the capability and commitment of both Bendigo Bank and Tyro.”