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 by Tyro Payments Limited is a comprehensive payment processing software designed to streamline financial transactions for businesses of all sizes. Its primary purpose is to facilitate seamless payment processing, offering features such as Eftpos services, merchant accounts, and integrated banking solutions. The software is known for its robust functionality, catering to the needs of small to medium-sized enterprises. The user interface of Tyro is intuitive and user-friendly, making it accessible even for those with limited technical expertise. The design is clean and modern, with easy navigation features that allow users to quickly find and utilize the various tools and services offered. Unique design elements, such as customizable dashboards and real-time transaction monitoring, enhance the user experience, providing a visually appealing and efficient interface. Tyro's functionality and features are extensive, setting it apart from its competitors. The software offers a wide range of payment processing options, including contactless payments, mobile Eftpos, and online payment gateways. One of its distinctive features is the Tyro Go device, which allows businesses to accept payments on the go.
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.
Features
Key features
- 1. Fast and Secure Payments
- Tyro facilitates quick and secure in-person transactions using various methods, including debit cards, credit cards, contactless payments, and EFTPOS cards.
- 2. Reduced Costs
- Tyro helps businesses save money through features like Dynamic Surcharging, which allows recouping some costs associated with accepting card payments. Additionally, their Tap & Save option helps minimize fees on eligible transactions.
- 3. Flexible Payment Solutions
- Tyro caters to various business needs with countertop and portable EFTPOS terminals, along with the option to accept payments directly through a smartphone using the Tyro BYO App.
- 4. Seamless Integration
- Tyro integrates effortlessly with over 330 Point of Sale (POS) systems, ensuring a smooth workflow within existing business infrastructures.
- 5. Real-time Transaction Tracking
- The Tyro Portal and App offer real-time insights into business takings, enabling effective cash flow management and informed business decisions.
- 6. 24/7 Support
- Tyro provides dedicated customer support 7 days a week to assist businesses with any questions or technical issues.
- 7. No Lock-in Contracts
- Businesses enjoy flexibility with Tyro's No Lock-in Contract policy, avoiding long-term commitments and offering the freedom to switch if needed.
- 8. Same-Day Settlements
- With a Tyro Bank Account, businesses can access their daily takings on the same day, including weekends and public holidays, enhancing cash flow management.
Additional features
- 1. EFTPOS Terminals
- Tyro provides countertop and portable EFTPOS terminals suitable for different business types and environments.
- 2. Tyro BYO App
- This app transforms a smartphone into a mobile EFTPOS terminal, allowing businesses to accept payments on the go.
- 3. Tyro Bank Account
- A free business bank account that integrates seamlessly with Tyro EFTPOS solutions, enabling same-day settlements and access to business loans.
- 4. Business Loans
- Fast and convenient access to business loans of up to $350,000 to support cash flow, growth initiatives, or inventory purchases.
- 5. Tyro Connect
- An integration hub that connects a business's POS system with leading hospitality applications, streamlining operations within the hospitality industry.
- 6. EFTPOS Security & Fraud Prevention
- Tyro prioritizes security with measures to protect businesses and customers from fraudulent activities.
- 7. Extensive Knowledge Hub
- Tyro offers a comprehensive knowledge hub with resources and guides to educate businesses on EFTPOS, online payments, and other relevant topics.
- 8. Xero Integration
- Tyro integrates with Xero, a popular accounting software, simplifying bookkeeping and reconciliation processes.
- 9. Customer Support
- Tyro offers various customer support channels, including phone, email, and online resources, to assist businesses with their inquiries.
Pricing
Countries & Languages
Interface languages
Billing currencies
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About Tyro
Tyro is a software from Tyro Payments Limited designed to simplify payment processing for businesses. Key capabilities include smooth integration with point-of-sale systems, real-time transaction reporting, and support for various payment methods including credit and debit cards. Best for: small to medium-sized enterprises looking to improve their payment systems and improve overall customer use.
Tyro Details
Tyro's In-App Market Place
Does Tyro have an in-app market place?
Yes
How many Mini-Apps in the marketplace?
1
Mini Apps
N/A
Pricing Options
Accepted Payment Currencies
USD ($), 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.
Tyro's Support Options
Contact
1300 00 8976Tyro's Alternatives
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