25 July 2022

Tyro announces new Chief Technology Officer

Tyro today announced the appointment of Paul Keen as Chief Technology Officer (CTO). Paul will start with Tyro on 15 August taking over from outgoing CTO Dave Coombes.

Paul is a highly regarded tech leader with experience across a broad range of businesses including Qantas, Airtasker, Dick Smith, Westfield, ninemsn, and most recently Nuix.

Paul Keen said he was delighted to join Tyro and was looking forward working with the team to drive the customer, product and innovation agenda.

“I’ve always admired Tyro – one of Australia’s original fintechs that has taken on the banks and made a huge difference to Australian businesses. I am looking forward to joining this dynamic team as they enter the next chapter in their growth story with further product innovation and tech excellence to best serve customers.”

Tyro CEO Robbie Cooke said: “We are thrilled to welcome Paul to the team. He is a passionate technologist and is recognised across Australia for having developed high-performing teams and driving innovation. As a technology business, this role is critical to Tyro’s success, and we look forward to working with Paul to deliver amazing results for our customers.”

For further information, please contact:

Monica Appleby

Phone: +61 466 598 946

Email: mappleby@tyro.com               

About Tyro

Tyro is a technology-focused and values-driven Group providing Australian businesses with payment solutions and value-adding business banking products. The Group provides simple, flexible and reliable payment solutions as a merchant acquirer, along with complementary business banking products. More than 61,500 Australian merchants chose to partner with Tyro at 31 December 2021. The Group processed more than $25.5 billion in transaction value in FY21 and a record $15.8 billion in H1 FY22. In FY21 the Group generated $119.4 million in statutory gross profit (H1 FY22 $71.2 million), originated $25.8 million in loans (H1 FY22: $36.2 million) and held merchant deposits totalling $75.5 million (H1 FY22: $100.8 million). Tyro is Australia’s fifth largest merchant acquiring bank by number of terminals in the market, behind the four major banks.

The business was founded in 2003 with a goal of being the most efficient acquirer of electronic payments in Australia. Tyro has a track record of innovation, creating purpose-built solutions and being first to market. This approach saw the company become the first technology company to receive an Australian specialist credit card institution licence in 2005. In 2015 that licence was replaced by the award of an Australian banking licence, making Tyro the first new domestic banking licensee in over a decade.

Payments are at the core of Tyro’s business, using its proprietary core technology platform to enable credit and debit card acquiring. This offering is enhanced by features purpose-designed for those merchants who choose to partner with the company, including Point of Sale systems integrations, least-cost routing (Tap & Save) and alternative payment types such as integrated Alipay. While traditionally focused on in-store payments, Tyro has recently expanded into eCommerce. Further, Tyro provides value-adding solutions to its partners, such as loans in the form of merchant cash advances and fee-free, interest-bearing merchant transaction accounts. Tyro has a team of more than 600 people, approximately half of whom are in technology roles.