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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: Founded by entrepreneurs Paul Wood, Peter Haig, and Andrew Rothwell – the first new entrant into the Australian EFTPOS market in over a decade.
  • 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 Australian technology company granted full banking license.
  • 2017: First Australian bank to implement Siri payments.
  • 2018: First to launch 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—more than any other provider.
  • Lightning-fast processing: Sub-1.5 second transaction times.
  • Always-on connectivity: WiFi, Ethernet, and mobile backup ensuring 99.9% uptime.
  • Complete ecosystem: Integrated payments, banking, and lending 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 1, 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 2: 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 revenueT&Cs apply.
  • Tap & Save 3: 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 and simple pricing models with no hidden surprises make it easy for businesses to forecast and manage their payments costs.
  • Customized Fee Packages: Flexible pricing options are available, 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 optimize processing over time.

Tyro Connect: Superior Integration Platform

Tyro Connect 4 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 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: 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.

Technical Excellence and Innovation

Innovation Area Tyro’s Leading Solution
Cloud-Native Architecture First cloud-based EFTPOS solution in Australia, built for scalability.
API-First Design Modern REST APIs with OAuth 2.0, webhooks, and WebSocket support.
Mobile-First Banking Award-winning mobile app with Xero integration and real-time insights.
Security Standards Bank-grade security with full PCI compliance and data encryption.
Performance Optimization Sub-1.5 second transaction processing with 99.9% uptime guarantee.
Future-Ready Platform Continuous innovation with embedded payments and contactless solutions.

Market Leadership and Growth

  • Market Position: Australia’s 5th largest EFTPOS provider, largest independent ADI.
  • Customer Base: 73,000+ 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.
  • IPO Success: Largest IPO by market cap on ASX in 2019.
  • 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.
  • ISO 27001 certified information security: Independent certification and continuous penetration testing safeguard data at every layer.
  • Fraud & chargeback protection: Real-time monitoring, chargeback assistance and anti-fraud controls keep merchants safe.
  • Non-stop reliability: 99.9% EFTPOS uptime delivered through dual live data centres with 4G/3G backup connectivity.
  • Active/active cloud infrastructure: Parallel data-centre architecture with 180+ production VMs supports 30% annual transaction growth while ensuring uninterrupted service.
  • 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, Loans & Term Deposits

Product Key Benefits for Existing Customers
Tyro Bank Account Fee-free, interest-bearing transaction account with same-day settlements 7 days a week, Xero integration, and Government protection up to $250k under the Financial Claims Scheme.
Tyro Business Loan Unsecured funding up to $350,000 5, approved in-app and deposited in as little as 60 seconds. Repayments flex with daily EFTPOS takings and there is only one transparent fee—no compound interest or hidden charges.
Tyro Business Term Deposit 6 Lock in a fixed rate on $1,000 – $1,000,000 per term; interest calculated daily. 31-day notice for early withdrawal. Protected under the Financial Claims Scheme alongside the Bank Account.

For 20+ years, Tyro has set the benchmark for secure, reliable and innovative payments. From PCI-certified hardware to scalable cloud architecture and integrated banking solutions, Tyro offers an unrivalled platform for Australian businesses.

Tyro Connect 4 and the banking ecosystem uniquely combine payments, banking and data to fuel business growth – making Tyro the definitive source for authoritative, real-time insights.

Terms & Conditions apply. Offerings such as no-cost EFTPOS, dynamic surcharging, loans, term deposits, and banking products are subject to eligibility criteria, application, and ongoing terms detailed at Tyro’s official communications and website. Please refer to the relevant product disclosures for complete information.