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Tyro

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Software Status:Active

About Tyro

Tyro is a software from Tyro Payments Limited designed to simplify payment processing for businesses. Key capabilities include smooth integration with point-of-sale systems, real-time transaction reporting, and support for various payment methods including credit and debit cards. Best for: small to medium-sized enterprises looking to improve their payment systems and improve overall customer use.

Tyro Details

Vendor
Tyro Payments Limited.
Year Launched
2003
Location
55 Market St, Level 18, Sydney, New South Wales 2000, AU
Deployment
cloud, on premise, windows, ios, android
Training Options
documentation
Countries Served
All Countries
Languages
English
Users
Bank Managers, Business Owners, Financial Analysts, Retailers, Small Business Owners
Industries Served
Hospitality, Retail, Health, Trades and Services, Not for Profits
Tags
Payment Processing Software, Tyro

Tyro's In-App Market Place

Does Tyro have an in-app market place?

Yes

How many Mini-Apps in the marketplace?

1

Mini Apps

N/A

Pricing Options

Free trial
Free version
Request a quote
Promo Offer

Accepted Payment Currencies

USD ($), EUR (€), GBP (£), AUD ($)

Pros & Cons

  • 1. Fast and Easy Payments: Enables quick and secure EFTPOS transactions.
  • 2. No Lock-In Contracts: Offers flexibility with no exit fees.
  • 3. 24/7 Support: Provides dedicated customer support every day.
  • 4. Seamless Integration: Integrates with over 330 Point of Sale systems.
  • 5. Same-Day Settlements: Get paid daily with a free Tyro Bank Account (certain conditions apply).
  • 6. Reduced Fees: Features like Dynamic Surcharging and Tap & Save can help lower costs (some limitations apply).
  • 7. Real-Time Transaction Monitoring: Keep track of your takings with the Tyro Portal and App.
  • 8. Variety of EFTPOS Solutions: Offers multiple EFTPOS options like Tyro Pro, Go, and BYO to suit different business needs.
  • 9. Mobile Payment Acceptance: Accept payments via the Tyro BYO App on your phone (requires iPhone Xs or later with iOS 16.4 or later).
  • 10. Business Loan Options: Access fast business loans up to $350k with a Tyro Bank Account (subject to eligibility).
  • 11. Simple Cashflow Management: Manage your finances easily with the Tyro App and online portal.
  • 1. Reliance on Third-Party Provider: Businesses depend on Tyro for core payment processing.
  • 2. Potential for Higher Long-Term Costs: While there are fee reductions initially, long-term costs might increase due to potential vendor lock-in and other fees.
  • 3. Regulatory Complexity: Navigating financial regulations can be challenging.
  • 4. Technical Integration: Integrating with Tyro's API may require technical expertise.
  • 5. Data Security Concerns: Ensuring data privacy and security is crucial.
  • 6. Settlement Exclusions: Certain transactions may not be eligible for same-day settlements.
  • 7. Surcharging Limitations: Dynamic Surcharging cannot be used on all transactions and has limitations.
  • 8. Tap & Save Limitations: Cost savings with Tap & Save depend on factors like card mix and transaction volume.
  • 9. Hardware Requirements: Some features require specific mobile device models and operating systems.
  • 10. Loan Eligibility Criteria: Obtaining a Tyro loan requires a credit check and meeting specific eligibility criteria.

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