6 payment trends to look out for in 2023

Make every transaction count for your customers
Keep queues short with ultra-fast, integrated payments
Practice-friendly EFTPOS made for healthcare
Fast, simple and secure countertop and mobile EFTPOS
More time for guests and greater ways to pay
Let your customers pay the way they choose
Guidance and inspiration for running your business
See what our customers have to say about Tyro
Handy tips and tools for your business
Common customer questions answered
Answers and updates when you need them
Our Australian-based Customer Support is here to help 24/7
13 September 2022 - 6 min read
Business Strategies
Launching a brick-and-mortar business is an exciting venture that involves lots of important decisions – one of the biggest being whether you want to buy or lease the property that you’ll sell your products in or where you’ll service your clients. This article breaks down the difference between a retail sale and retail lease, to help you work out which one best suits you and your business.
A retail sale occurs when you purchase a retail property from a seller, with either cash or a loan, and it becomes your own. If you use cash, you own the property outright, right away; if you use a loan, it will take a little longer for the property to be fully yours – only occurring once you’ve made your final repayment at the end of the loan term.
When you buy a retail property, it’s your asset that you can do what you like with.
Here are the advantages of buying a retail property:
Benefits aside, there are some disadvantages you should be aware of when it comes to buying a rental property. They include:
A retail lease is when you pay the owner of the retail property (the landlord) to use the space for a certain period of time. You’ll enter into a legally binding contract that outlines the terms by which you (the tenant) can rent the property.
The laws that apply to retail leases differ slightly for each state and territory in Australia, including Queensland, New South Wales, Victoria, Northern Territory, South Australia, Western Australia, Australian Capital Territory and Tasmania. It’s important to understand your rights and obligations, depending on where you live, to ensure you know where you stand before committing to a retail lease.
From flexibility to freeing up capital, here’s the advantages of leasing a retail property:
Let’s not forget the disadvantages. Here are the potential pitfalls of a retail sale:
Whatever property path you decide to go down – whether buying or leasing – you’ll need the right tools to make your retail space count. Tyro EFTPOS is a great solution for retail businesses looking to streamline their payments processes.
Some features include:
A retail sale and retail lease are completely different ways to secure a property for your business. Make sure to consider your business’ needs and goals, and weigh up the pros and cons of both, to land on one that works for you.
Want to talk Tyro EFTPOS? We’re ready to chat!
1 Average time taken to authorise a Visa, Mastercard, eftpos payment transaction, during the period 1 Feb 2022 to 30 April 2022. Measured as the time elapsed from a cardholder presenting the card on the EFTPOS machine to the return of the authorisation on the EFTPOS machine from the card schemes.
1 Feb 2023 - 5 min read
25 Jan 2023 - 5 min read
24 Jan 2023 - 6 min read
21 Dec 2022 - 6 min read
Australian-based 24/7 support