Tyro AU - POS

Our Verdict

Tyro is a formidable payment processing solution for Australian businesses, carving out a unique niche by excelling in seamless integration rather than attempting to be an all-in-one POS system. Its core strength lies in its ability to connect effortlessly with hundreds of existing POS platforms, making it an ideal choice for businesses that have already invested in their operational software. Features like “Tap & Save” demonstrate Tyro’s commitment to tangible cost savings for merchants. At the same time, its robust and speedy terminals ensure smooth customer transactions, which is especially vital in high-volume hospitality and retail environments. Tyro presents a compelling and competitive offering in the Australian market.

Pros

Compatible with many POS systems
24/7 Customer Support available
Fast and reliable transaction speeds
No commitment necessary
"No Cost EFTPOS" option to offset transaction fees via surcharging

Cons

Not a full-fledged POS system; requires integration with existing software
Transaction fees can add up for high-volume businesses without "No Cost EFTPOS"
Pricing structure can be complex

Plans & Pricing

Tyro’s pricing structure primarily revolves around transaction fees and hardware costs, rather than tiered software packages. They offer a transparent approach with different options depending on the business’s needs and transaction volume.

Tyro Pro: A next-generation EFTPOS device that has a machine rental fee of $29/month and a per-transaction fee of 1.4%.
Tap to Pay: Offers a more mobile solution with no hardware cost for the “Tap to Pay” functionality, only a transaction fee of 1.4%
Tyro Go: A portable EFTPOS reader available for a one-time purchase fee of $39 per device, including GST. The per-transaction fee is 1.4% per transaction, also including GST. This is great for businesses on the go or those with lower transaction volumes.
No Cost EFTPOS: For businesses transacting over $10,000 monthly in card payments, Tyro offers a “No Cost EFTPOS” option, which allows businesses to apply a surcharge to card payments, offsetting their transaction fees. This option typically has no machine rental or monthly bills.

Tyro emphasizes customized pricing for businesses processing over $20,000 monthly in card payments, indicating a willingness to negotiate rates for higher volume merchants. While there isn’t a traditional free version, some resources suggest a 14-day free trial might be available for testing purposes, or a personalized demo can be booked.

Tyro Pro

$29 /mo + 1.4%/transaction

Tap to Pay

1.4% per transaction

No Cost EFTPOS

$39 /device, + 1.4%/transaction

In-depth review

Features and Functionality

Tyro focuses on optimizing payment processing, offering a suite of features designed for efficiency, flexibility, and cost savings.

Integrated Payments

Tyro’s core strength lies in its deep integration with over 450+ POS providers across Australia. This means businesses can seamlessly process payments directly through their existing POS system, eliminating manual keying errors and simplifying end-of-day reconciliation. This integration is crucial for maintaining efficient workflows in busy environments like restaurants and retail.

Tap & Save (Least-Cost Routing)

A standout feature, Tap & Save automatically routes eligible tap-and-go debit card transactions through the cheapest network available. This unique functionality helps businesses reduce their payment processing costs, directly impacting their profitability.

Multi-Merchant Functionality

For businesses with multiple providers or departments operating under one roof (e.g., medical practices with several practitioners), Tyro offers multi-merchant functionality. This allows payments to be processed against each provider and settled directly to their nominated bank account, simplifying financial management for complex business structures.

Tyro Connect

Tyro Connect acts as an integration hub, enabling businesses to connect their POS system with popular third-party applications easily. This growing ecosystem includes apps for online ordering, menu management, bookings, and more, streamlining various aspects of business operations, particularly within hospitality.

Real-time Transaction Speeds

Tyro’s EFTPOS solutions are built for speed, offering lightning-fast transaction times. This is vital for reducing customer wait times, particularly during peak service periods in cafes, bars, and quick-service restaurants, contributing to a smoother customer experience.

Reporting and Analysis

Tyro provides valuable reporting and analysis capabilities through its Merchant Portal. Businesses can access “Cost Analysis Reports” to evaluate payment processing efficiency, monitor financial trends, and gain insights into transaction volumes and fees. This data is essential for informed decision-making and improving profitability. When integrated with a POS system, these reports can be cross-referenced with POS data for a comprehensive view of revenue across different payment types.

Hardware Requirements

Tyro offers its own range of EFTPOS terminals designed for various business needs. These typically include:

Tyro Pro: A next-generation device suitable for countertop use.
Tyro Mobile EFTPOS (Yoximo terminal): A portable device offering Wi-Fi and 4G backup, ideal for pay-at-table scenarios or mobile businesses.
Tyro Go: A compact EFTPOS reader that pairs with a smartphone.
Tyro BYO App: This innovative app turns compatible iPhones (XS or later with iOS 16.4+) and Android devices (OS 9.0+ with NFC) into “Tap to Pay” terminals, eliminating the need for a dedicated Tyro device.

The basic equipment needed to get started typically involves a Tyro EFTPOS terminal, a compatible smartphone/tablet with the Tyro BYO app, and a stable internet connection (Ethernet, Wi-Fi, or 3G/4G, depending on the device). Tyro does offer its hardware for purchase or rental.

Integrations & Add-ons

Tyro’s strength in integration is a significant advantage. It boasts compatibility with over 450+ POS systems across Australia, making it highly likely that a business’s existing POS software can seamlessly connect with Tyro. Some popular POS systems integrating with Tyro include Lightspeed, OrderMate, and various industry-specific solutions.

Beyond direct POS integrations, Tyro offers Tyro Connect, an integration hub that links the POS system to a growing ecosystem of third-party applications. This includes popular hospitality apps like:

Hubster: For integrating delivery partners.
Me&U: For order-at-table solutions.
Chewzie: A fast and flexible table ordering platform.
Google: For online ordering via Google Search and Maps.
SevenRooms: A guest experience and retention platform.

These integrations allow businesses to streamline operations, manage online orders, enhance customer experience, and gain deeper insights by connecting various tools to their central POS and Tyro payment data.

Ease of Use

Setting up and using Tyro is generally straightforward, particularly for businesses already familiar with their POS system. The setup process for integrating a Tyro terminal with a POS typically involves a few steps: navigating to the POS settings, selecting Tyro as the payment type, and then pairing the Tyro device by entering its Merchant ID (MID) and Terminal ID (TID). Tyro provides clear instructions, and its support team can assist with the initial setup.

Tyro’s EFTPOS terminals’ interfaces are designed for efficiency. They have clear displays and tactile keypads (on models like the Tyro Pro Key) that are easy to use even in fast-paced environments or with gloved hands. The Tyro BYO app’s interface is intuitive, leveraging the familiar smartphone environment.

While new users might experience a slight learning curve to understand specific features like dynamic surcharging or Tap & Save settings within the Tyro Portal, day-to-day transaction processing is typically very intuitive. The seamless integration with the POS system means staff often interact primarily with their familiar POS interface, with Tyro handling the payment processing in the background.

Customer Service

Tyro provides comprehensive help and support to its merchants, ensuring they have assistance when needed. Their support is designed to be responsive, especially given the critical nature of payment processing for businesses. Setup support is generally included, with clear guides and assistance available for integrating terminals with POS systems. Tyro also offers a blog section with industry insights, product updates & business tips as well as a comprehensive FAQ section in their resource section.