Australian consumers and retailers continue to be victims of numerous glitches, failures and outages at the major banks. These outages of the payment system cause significant turmoil. An EFTPOS outage results in abandoned sales, immediately affecting the retailers’ bottom line. Even a small retailer loses hundreds of dollars in no time, not to mention the havoc and customer dissatisfaction it causes.

But then that’s nothing really new. The RBA’s Payment Systems Board Annual Report1 found that Westpac, National Australia Bank and Commonwealth Bank suffered a “number of difficulties” delivering consistent and reliable EFTPOS services to their customers back in 2010-11.

It only takes a quick online search to find the extent of the big banks’ lengthy track record of failures. What is at stake is the reliability of the retail payment system with $500 billion spent annually.

In contrast with the big banks, Tyro has delivered 100 percent system availability with a $30 million investment in its cutting-edge technology, multiple switches and data centres.2 In case of a maintenance interval or component failure the Tyro terminal simply seeks the next available switch in seconds. The customer is not impacted.

It is not rocket science. Retailers worried about disruptions or delays caused by their incumbent EFTPOS provider now have a reliable alternative. Banks have to perform or lose the business.

  • CommBank suffers major EFTPOS, Netbank outage (SMH 12/6/15)
  • NAB’s online payment system has been down for days (Business Insider 3/6/15)
  • Westpac EFTPOS outage triggered by air-conditioning (SBS 22/2/15)
  • Bankwest EFTPOS networks went offline (9News 2/2/2015)


(1) RBA Payment Systems Board Annual Report 2010/2011:
“In late November 2010, National Australia Bank (NAB) experienced operational difficulties originating in its overnight processing of direct entry payments. Efforts to catch up on processing caused further problems. This was followed by another, unrelated, problem with direct entry payments in April 2011 at NAB. In March, CBA experienced problems with its internet banking site, as well as its POS and ATM services, and in early May an operational difficulty at a data centre caused Westpac’s EFTPOS, internet banking and ATM services to shut down for a morning.”

(2) Tyro Annual Report 2014 page 7