Tyro once again broke all records this Christmas processing more than $890 million in transactions in December, up from $708 million the year before.
Total credit and debit card transaction value processed through the Tyro EFTPOS system during a single day peaked on December 23 at $46.6 million, and the peak in transactions per minute was hit on December 24 at 12.48pm, with 1542 transactions processed in that minute.
Our retailers, restaurants, medical practices, and other merchants from many different industries benefitted from Tyro’s non-stop acquiring, with the system delivering 100% availability in the Christmas lead-up. This is the result of Tyro having made significant investment years ago in live-live data centres and highly-redundant acquiring systems.
In the rare case of a system maintenance or a component failure, the Tyro terminal fleet automatically fails over to the next available authorisation system in the next available data centre. Our customers do not even notice an interruption.
We appreciate how much damage the recurring outages in the retail payment system caused by the big banks is inflicting on the business community, with service impacts to ATMs, online banking and EFTPOS facilities leaving millions of customers and businesses stranded from their funds. As a result, we have not baulked from any investment or cut short any effort to improve the availability of our core EFTPOS platform.
Tyro’s Head of Engineering Geoff Chiang said it’s rewarding to the team that year after year, with significantly growing transaction volumes, the Tyro system’s architecture continues to prove its resilience and performance, and notes that the time and effort that has gone into the design and development of custom-built, state-of-the-art technology has paid off handsomely.
“There’s no magic here just solid system design, software processes and deployment practices, all delivered by an incredibly talented team,” he said. “Every December we watch our systems extra closely, not because we’re afraid of failures, but because we continuously strive to do better – to find even more improvements that we can implement in the following year.
“Our aim is to provide merchants with fast and uninterrupted EFTPOS service, and we’re well prepared to accommodate our yearly transaction growth rate of 30% well into the future.”
Retailers and merchants, who do not want their EFTPOS solution to stop or slow down their trading, should consider switching to Tyro.