Wednesday, June 19, 2024

Tyro joins eftpos

Tyro Payments Ltd (Tyro) has joined the eftpos membership and will soon connect directly to the company’s new centralised payments infrastructure, the eftpos Hub.

Eftpos Managing Director Bruce Mansfield congratulated Tyro for taking the initiative to directly access Australia’s domestic debit network and benefit from the real-time processing capabilities of the eftpos Hub infrastructure.

Mr Mansfield said Tyro was only the second new eftpos member to join since the inception of eftpos as a payment system in 2009, following the addition of ING Direct in 2014.

“We are very pleased that Tyro has joined eftpos and further strengthened the diversity to our member base,” he said. “Eftpos is owned and operated by Australians and is an essential and valuable part of the fabric of everyday Australian life. Tyro and its large small-business merchant base are a welcome addition to that mix and a valuable voice at the eftpos table.

“The eftpos Hub is a robust, reliable, secure and scalable centralised infrastructure that aims to provide the industry with cost-effective, real time payments processing, as well as an enhanced capability to implement new products and services. This real-time infrastructure will assist Tyro and its customers implement innovations across the network and move to new eftpos technology platforms such as mobile and online in an efficient and cost-effective way.”

Since being launched in September 2014, the Hub is already processing almost two million eftpos CHQ and SAV transactions a day.

Tyro is scheduled to connect to the eftpos Hub in November, following others who have already connected, including NAB, ANZ, Coles, First Data and Woolworths.

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