{"id":560,"date":"2013-12-19T03:05:46","date_gmt":"2013-12-19T03:05:46","guid":{"rendered":"https:\/\/www.tyro.com\/?post_type=press-releases&p=560"},"modified":"2019-07-26T11:41:38","modified_gmt":"2019-07-26T01:41:38","slug":"tyro-at-the-forefront-of-industry-initiative","status":"publish","type":"press-releases","link":"https:\/\/www.tyro.com\/about-tyro\/media\/tyro-at-the-forefront-of-industry-initiative\/","title":{"rendered":"Tyro at the forefront of industry initiative"},"content":{"rendered":"\n<div class=\"wp-block-cgb-container-narrow container narrow-container container-block\"><div class=\"row\"><div class=\"col s12\">\n<p class=\"wp-block-cgb-text gutenberg-examples-align-none\">A significant reduction in payment fraud is expected next year with yesterday\u2019s decision by the ACCC to grant authorisation to Visa and MasterCard to abolish the use of signatures for purchases over $100. From 1 July 2014 consumers will be better protected by needing to enter their PIN for credit and debit card transactions to be approved.<\/p>\n\n\n\n<p class=\"wp-block-cgb-text gutenberg-examples-align-none\">\u201cTyro welcomes and supports the move by the ACCC to have mandatory PIN transactions. With our Australian first mobile integrated EFTPOS solution we have long been ready for this change, while the big banks have not,\u201d said Jost Stollmann, CEO of Tyro Payments.<\/p>\n\n\n\n<p class=\"wp-block-cgb-text gutenberg-examples-align-none\">It is expected that Australia\u2019s 14,000 cafes and restaurants, their staff and customers will be affected the most by the changes, with customers now forced to leave their seats to pay for bills at the cashier using their four digit PIN code. However, Tyro has been recognised as leading the charge on ensuring that customers are not unnecessarily inconvenienced by the change.<\/p>\n\n\n\n<p class=\"wp-block-cgb-text gutenberg-examples-align-none\">\u201cTyro was well ahead of the industry pack when it came to considering how customers would be impacted and have been working tirelessly to ensure customers and businesses wouldn\u2019t be adversely affected,\u201d said Mr Stollmann. Last year Tyro worked closely with key software providers to develop Australia\u2019s first and only, all IP based, integrated \u201cpay at table\u201d solution.<\/p>\n\n\n\n<p class=\"wp-block-cgb-text gutenberg-examples-align-none\">The solution establishes a conversation between the restaurant management software and the payment terminal and allows the consumers to use the device at their table at their own pace to split the bill, pay and tip using their four digit PIN.\u201cWhile mobile terminals are nothing new, their adoption in restaurants was lacklustre to say the least. Australians spend a huge $10 billion<sup>1<\/sup> annually dining out at cafes and restaurants and struggling retailers can\u2019t afford to alienate their customers.<\/p>\n\n\n\n<p class=\"wp-block-cgb-text gutenberg-examples-align-none\">\u201cOur solution is supported by diners, restaurant staff and restaurant managers \u2013 who no longer have to spend lonely nights, after staff have gone home, punching numbers into terminals to process tips. \u201cVISA and MasterCard are spending a lot of money to educate the public about the importance of being \u2018PIN-Wise\u2019, but are ultimately not addressing the real issue of putting the customer first and ensuring they are not more inconvenienced by the payment process,\u201d Mr Stollmann said.<\/p>\n\n\n\n<p class=\"wp-block-cgb-text gutenberg-examples-align-none\">Mr Stollmann said that the PIN requirement put the customer back in control.\u201cIt\u2019s virtually impossible for a fraudster to ascertain a PIN, while forging a signature is easy. \u201cUsing chip card technology and PIN entry is an effective method to stamp out card theft and skimming and the share of fraud in face-to-face transactions. Our wireless integrated pay at table EFTPOS system is a perfect complement to eliminating credit card signatures.\u201cTyro\u2019s mobile terminals revolutionise the customer paying experience and makes restaurant staff and owners lives much easier,\u201d Mr Stollmann said.<\/p>\n\n\n\n<p class=\"wp-block-cgb-text gutenberg-examples-align-none\">Yesterday, the ACCC granted \u2018authorisation<sup>2<\/sup> to Visa and MasterCard to allow them, together with American Express and Participating Financial Institutions, to coordinate in relation to the removal of signatures as a method of authentication for most credit card transactions that are completed in person.\u2019<\/p>\n\n\n\n<hr class=\"wp-block-separator is-style-wide\" \/>\n\n\n\n<p class=\"wp-block-cgb-text gutenberg-examples-align-none\">[1] <a href=\"http:\/\/www.abs.gov.au\/ausstats\/abs@.nsf\/Lookup\/8655.0Main%20Features32006-07?opendocument&tabname=Summary&prodno=8655.0&issue=2006-07&num=&view=\"><strong>http:\/\/www.abs.gov.au\/ausstats\/abs@.nsf\/Lookup\/8655.0Main%20Features32006-07?opendocument&tabname=Summary&prodno=8655.0&issue=2006-07&num=&view=<\/strong><\/a><br \/>[2] <a href=\"http:\/\/registers.accc.gov.au\/content\/index.phtml\/itemId\/1120516\/fromItemId\/278039\/display\/acccDecision\"><strong>http:\/\/registers.accc.gov.au\/content\/index.phtml\/itemId\/1120516\/fromItemId\/278039\/display\/acccDecision<\/strong><\/a> <br \/> <\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cgb-container-narrow container narrow-container container-block\"><div class=\"row\"><div class=\"col s12\">\n<h2 class=\"wp-block-heading\"><strong>Need to know more?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-cgb-text gutenberg-examples-align-none\">For more about this news story please contact:<br\/>Monica Appleby, Head of Corporate Communications\u00a0on\u00a00466 598 946\u00a0or\u00a0<a rel=\"noreferrer noopener\" href=\"mailto:mappleby@tyro.com?subject=Media enquiry\" target=\"_blank\" data-type=\"mailto\">mappleby@tyro.com<\/a><br\/>Sophie Cotterill, Corporate Communications Manager\u00a0on\u00a00414 960 292\u00a0or\u00a0<a rel=\"noreferrer noopener\" href=\"mailto:scotterill@tyro.com?subject=Media enquiry\" target=\"_blank\">scotterill@tyro.com <\/a><\/p>\n\n\n\n<p><\/p>\n<\/div><\/div><\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"parent":0,"template":"","press-category":[2318],"class_list":["post-560","press-releases","type-press-releases","status-publish","hentry","press-category-2318"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v24.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tyro at the forefront of industry initiative | Tyro<\/title>\n<meta name=\"robots\" content=\"index, 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