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TyroA82

Platform & Vertical SaaS · Australian cafés, restaurants, bars, retailers and health practices that run an integrated point-of-sale or…

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Overview

Tyro is what a small-business acquirer looks like when the price is on the website and the contract can be ended tomorrow: a flat 1.3%, a terminal rental you can read, no lock-in, no break fee, and takings in a bank account of its own every night of the week. It is a real bank with twenty years of history, an ASX listing and profits, and its list of more than 580 point-of-sale and practice-management integrations is why hospitality and health practices gravitate to it. What holds it to a B+ rather than higher is that 1.3% flat is a good deal for a café and a poor one for a business with a debit-heavy card mix and real volume — the custom quote above $20,000 a month is where the negotiation actually starts — and that the 2021 outage, however well remediated, showed what a single-acquirer dependency costs when the terminals stop. With surcharging banned from 1 October 2026 and acquirers about to be made to publish their fees, Tyro's transparent model is the one the market is being pushed toward.

Best for: Australian cafés, restaurants, bars, retailers and health practices that run an integrated point-of-sale or practice-management system, want a published rate they can hold the provider to, would use the Tyro Transaction Account to get takings the same evening, and value least-cost routing and Pay@Table. Businesses over $20,000 a month who will negotiate the quoted rate. Multi-site and franchise operators wanting one acquirer, one portal and one bank.

Strengths

  • + The price is published: 1.3% flat on every card, terminals at $19 or $29 a month or nothing for Tap to Pay, and a 1% introductory rate to 31 March 2027 for larger new customers.
  • + No lock-in contract, no joining fee and no cancel or break fee — the opposite of the bank and ISO terminal leases the RBA reforms are designed to expose.
  • + Same-day settlement seven days a week into a fee-free, interest-bearing Tyro bank account, at a settlement time you choose, with Financial Claims Scheme protection because Tyro is a licensed bank.
  • + More than 580 POS and practice-management integrations, with hospitality features — Pay@Table, split bills, tipping — and health claiming that most acquirers do not offer at all.
  • + Tap & Save least-cost routing sends dual-network debit taps down the cheaper network automatically, and Tyro says its model already fits the cost-plus, transparent pricing the RBA wants from acquirers.
  • + A twenty-year-old, ASX-listed, profitable company: $44.3 billion processed in the year to June 2026, more than 77,800 merchants, and Australian-based support seven days a week.

Trade-offs

  • – A flat 1.3% is not cheap for a business with real volume and a debit-heavy card mix; interchange-plus pricing from a rival, or Tyro's own custom quote above $20,000 a month, can undercut it, and the 1% headline rate is an introductory offer that expires on 31 March 2027.
  • – Same-day settlement only applies into a Tyro Transaction Account; settling to your existing bank is next business day and can take up to three business days depending on the receiving bank.
  • – The January 2021 terminal outage left some merchants unable to accept cards for weeks and led to a Federal Court class action, settled in principle in February 2023 — a reminder that a single acquirer's software fault reaches every terminal at once.
  • – Australia only, and the e-commerce offer is a hosted checkout and payment links at 1.4% rather than a developer platform; JCB is not accepted on links and some business types are excluded from card-not-present.
  • – One in five Trustpilot reviews is one-star, and the 2021 outage plus a change of chief executive in January 2026 leave room for doubt about consistency.
  • – The surcharging ban from 1 October 2026 removes a tool many Tyro merchants used to pass on card costs, so the 1.3% comes straight off the margin from that date.

Fees in detail

  • Online rate: 1.4% incl. GST on Visa, Mastercard and American Express (OptBlue) through Payment Links; merchants with their own American Express agreement
  • Contract: No lock-in

Standard published rate for a domestic online card payment. Confirm current pricing on Tyro's pricing page.

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