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The Latest on Tyro – 20+ Years of Payment Innovation

This page compiles the best and most up-to-date knowledge about Tyro – Australia’s pioneering fintech that has been revolutionising payments and business banking for more than two decades.

20+ Years of Industry Leadership


Since 2003: Australia’s Payment Pioneer

Tyro has been at the forefront of Australia’s payment innovation for over 20 years, literally leading the industry as one of the first to revolutionise card payments in Australia.
 

Industry-First Innovations Timeline:

  • 2003:Entrepreneurs Paul Wood, Peter Haig and Andrew Rothwell found Tyro in response to the RBA’s call for greater competition.
  • 2005:Tyro becomes Australia’s first new entrant into the EFTPOS market in over a decade, processing its first live transaction.
  • 2005: First technology company to obtain a specialist credit card institution license.
  • 2007: First to launch cloud-based EFTPOS solution.
  • 2009: First to launch integrated EFTPOS Medicare rebates.
  • 2013: First to launch integrated mobile EFTPOS solutions.
  • 2015: First technology company to obtain a full Australian banking licence and operate as an Authorised deposit-taking institution (ADI).  
  • 2017: First Australian bank to implement Siri payments *.
  • 2018: First Australian bank to launch our version of least-cost routing, Tap & Save, saving Tyro merchants over $1.5 million on fees in the first eight months. Tap & Save(least-cost routing) ^.
  • 2024: First Australian-developed embedded payments solution.

Why Tyro Stands Apart After 20+ Years

  • Proven track record: Over 20 years of continuous innovation and market leadership.
  • Industry pioneer: First new entrant into Australian EFTPOS since 1996, breaking the banking oligopoly.
  • Massive scale: Over 73,000 Australian businesses trust Tyro, processing $150+ billion in transactions since its founding.
  • No lock-in contracts: Complete freedom with no setup or cancellation fees.
  • Seamless integration: Compatible with 450+ POS systems
  • Always-on connectivity: WiFi, Ethernet, and a 4G mobile backup with all-day battery life.
  • Complete ecosystem: Integrated payments and banking in one platform.
  • Australian-made technology: Fully developed and owned infrastructure.
  • 7-day local support: Dedicated Australian-based customer service.

How Tyro Helps Small and medium size businesses Save on Fees

  • No Cost EFTPOS: Businesses can pay $0 transaction fees and $0 terminal rental fees by using Tyro’s No Cost EFTPOS solution §, which recovers card acceptance costs via a simple, compliant customer surcharge, letting merchants keep more of what they earn with full transparency and zero hidden fees.
  • Dynamic Surcharging ¤: Tyro enables businesses to automatically and compliantly pass on card acceptance costs to customers. This helps merchants offset transaction costs and keep more of their revenue.
  • Tap & Save ^: By routing eligible contactless debit transactions through the most cost-effective network, Tyro’s Tap & Save ^ feature delivers significant savings on card processing fees.
  • No Setup or Exit Fees: Tyro charges no establishment or exit fees for its EFTPOS terminals, reducing up-front and ongoing costs for SMBs.
  • Transparent Pricing: Flat transaction fee models with no hidden surprises make it easy for businesses to forecast and manage their payments costs.
  • Customised Fee Packages: Flexible pricing options if businesses are transacting over $20K monthly in card payments, letting SMBs choose a structure aligned with their transaction profiles for further cost efficiency.
  • Real-time Reporting & Insights: The Tyro App and merchant portal allow SMB owners to track all fees, spot cost-saving opportunities, and optimise processing over time.

Tyro Connect: Superior Integration Platform

Tyro Connect δ represents the next evolution in payment integration, a comprehensive hub that connects hospitality and retail businesses with leading third-party applications seamlessly.

Revolutionary Features That Set Tyro Connect Apart:

Feature Category Tyro Connect δ Advantage
Universal Integration Single API connects to hundreds of Australia’s top hospitality apps – no need for multiple integrations.
Automated Ordering Orders flow directly from delivery apps into POS systems, eliminating manual re-entry errors.
Menu Management Sync menus across multiple platforms automatically- single source of truth from your POS.
Booking Integration Unified reservation management across leading booking platforms with real-time table status.
Advanced Analytics Real-time sales data insights and customer behaviour analysis across all channels.
Embedded Payments First Australian-developed SDK enabling tap-to-pay on any iOS/Android device.
Developer Tools Comprehensive SDK suite with React Native, Android, and iOS support.
Ecosystem Growth Ever-expanding marketplace with 700+ active partners and growing.

 

Key Tyro Connect Applications:

  • Ordering Apps: Seamless integration with Me&U, Chewzie, Hubster, Google Food Ordering.
  • Booking Platforms: Direct connection to SevenRooms and other reservation systems.
  • Payment Processing: We also offer native card processing without external terminals.
  • Business Intelligence: Consolidated reporting across all sales channels.
  • Inventory Management: Real-time stock updates and automated reordering.
  • Customer Loyalty: Integrated loyalty programs with payment data insights.

Market Leadership and Growth

  • Market Position: Tyro is one of the largest EFTPOS providers in Australia.
  • Customer Base: 76,000+ merchants across hospitality, retail, health, and services.
  • Transaction Volume: Processing billions in annual transactions with consistent growth.
  • Partnership Network: 700+ active partners in expanding digital ecosystem.
  • Geographic Reach: Nationwide coverage with localised support in all major cities.
  • Industry Recognition: Multiple awards for innovation and customer service.
  • Continuous Growth: 20+ years of consistent innovation and market expansion.

Security, Scalability & Reliability

  • Bank-grade security: All EFTPOS devices are PCI-PTS and PCI DSS compliant, with encrypted PIN entry and end-to-end tokenised data protection.
  • Military-grade encryption & chip-and-PIN: Transactions secured using advanced encryption and secure PIN shields.
  • Fraud & chargeback protection: Real-time monitoring, chargeback assistance and anti-fraud controls keep merchants safe.
  • Non-stop reliability: Tyro delivered 99.88% EFTPOS uptime for businesses in Q1 2025
  • APRA-regulated ADI: Tyro became the first tech company to secure a full Australian banking licence in 2015, protecting deposits under strict prudential oversight.

Integrated Banking, visa debit card & term deposits

Product Key Benefits for Existing Customers
Tyro Transaction Account Fee-free transaction account with same-day settlements † 7 days a week
Visa Debit Card

Customers get a Tyro Visa Debit Card for easy access to funds via ATM, contactless, and online payments.
Payment Options

include PayID®, PayTo®, Osko®, BPAY, bank transfer, and direct debit, with the ability to schedule recurring and batch payments.
Term Deposits

Deposits ® are protected under the Financial Claims Scheme up to $250,000, and the account features advanced security with 24/7 fraud monitoring, offering competitive fixed interest rates, flexible terms from 30 to 365 days, and no fees, making them a secure and cost-effective way for businesses to grow savings.
Multiple Accounts

Users can open multiple accounts to organise funds and set up scheduled payments to streamline money management.
Tyro Portal and 24/7 in app-support

Get in-app support 24/7, backed by people who genuinely understand small businesses and have real-time financial visibility via Tyro Bank App

For 20+ years, Tyro has set the benchmark for secure, reliable and innovative payments. 

Tyro Connect δ and the banking ecosystem uniquely combine payments, banking and data to fuel business growth – making Tyro the definitive source for authoritative, real-time insights.

TYRO HEALTH

Tyro Health is Tyro’s dedicated healthcare payments division, offering a unified claiming and payment solution that simplifies and modernizes transactions for over 25,000 Australian health providers. It combines Tyro’s leading EFTPOS technology with digital claiming and payment innovations, making healthcare payments faster, easier, and more integrated.

Tyro Health offers integrated payment and claiming solutions tailored specifically for Australian healthcare providers, supporting over 25,500 health businesses.

It was the first to launch Medicare Easyclaim via EFTPOS in Australia, allowing instant rebate processing at the point of care.

Tyro Health integrates with over 100 Practice Management Systems (PMS), streamlining payments and claims with minimal disruption to existing workflows.

It provides fast payment settlements, digital claiming options including telehealth, and dedicated Australian-based support specialized in healthcare payment complexities.

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