Tyro

About Tyro

Tyro was founded in 2003 as a specialist acquirer, at a time when merchant acquiring in Australia sat almost entirely with the four major banks. It was the first technology company to obtain a full Australian banking licence, becoming an ADI in 2016, which let it hold merchant deposits and lend against turnover rather than only process payments.

Its position is built on integration rather than price. Tyro terminals connect directly to a long list of point-of-sale systems, which matters most in hospitality and health, where the terminal talking to the POS removes a keying step on every sale. It self-describes as Australia’s largest EFTPOS provider of all ADIs outside the big four, with around 77,800 customers.

It also acquires for other brands: Bendigo Bank’s merchant offer is issued by Tyro Payments Limited, and BOQ Specialist routes practices needing Medicare and health-fund claiming to Tyro Health. Tyro does not publish a headline transaction rate — pricing is quoted per business, so a merchant comparing it against a published flat rate has to obtain a quote first.