What is No Cost EFTPOS and does it fit my business?
Tyro’s Tap & Save * new pricing is here, allowing merchants to send debit contactless payments through the more cost-effective network.
What does this mean for my business?
Tyro is the first Australian bank to offer this cost-saving feature, which processes debit card contactless transactions through the most economical network for transactions less than $1,000. This means for eligible transactions, you will be charged whichever is cheaper between the eftpos purchase rate or the scheme debit rate. The savings will vary depending on your business and the mix of contactless payments you processes.
Our customer service team is standing by to go through your individual plan – please contact us 1300 00 TYRO (8976) 9am to 5pm (Sydney time)
New customers who would like to sign up can get a quote here.
Why change?
Our ‘Tap & Save’ initiative was prompted by the Reserve Bank of Australia (RBA) calling for “significant activity” around the least-cost routing progress.
‘Tap & Save’ is now a reality for Tyro merchants Australia-wide following eftpos’ upgrade to handle contactless payments.
This gives merchants the ability to be able to process debit card transactions to the cheaper network and comes at a critical time for the payments market.
As the Australian Competition & Consumer Commission (ACCC) requires Australian businesses to only charge customers actual costs to process payments for eftpos and credit cards (including bank fees and terminal costs), the ‘Tap & Save’ initiative is a win for new and existing Tyro merchants, as well as Australian consumers.
We look forward to talking to you about this new feature offering.
For more information, visit tyro.com
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