What are Tyro's Merchant Service Fees?
Tyro has a very simple Merchant Service Fee structure. Tyro's fee structure considers your individual situation and your current or expected annual card turnover. Tyro does not charge any set-up fees, or cancellation fees, and there are no lock-in contracts. More Payments' Sales team will walk you through all the details and the various pricing structures that suit your business and industry best.
How do I get started with Tyro EFTPOS?
Tyro is easy with a simple signup process. You will usually receive your EFTPOS machine within seven to ten business days after your application has been approved by Tyro. To speak with one of More Payments' Sales Executives please give us a call on 1800 338 767 Mon-Fri - 9.00am - 5.00pm (AEST) and More Payments will walk you through a simple application process. Once your application is approved by Tyro, it can be as quick as two to three business days for approval by Tyro (if Tyro has received all the required information) and a further five to seven business days for your EFTPOS machine to be configured and delivered. Upon delivery it is a quick and simple setup.
Does Tyro accept all payment types?
Tyro accepts all major debit and credit card types, including Visa, Mastercard, eftpos, American Express, Diners Club, JCB, and UnionPay. Tyro also accepts Alipay. Additionally, the EFTPOS machines provided by Tyro accept digital wallets like Apple Pay, Google Pay, and Samsung Pay as long as an accepted card type is loaded onto the wallet. For American Express and JCB, if eligible, you can choose Tyro to settle these schemes. Otherwise, simply provide Tyro with your existing American Express merchant number and your settlements will be deposited into the bank accounts you have registered with them. For Diners Club, simply provide Tyro with your existing merchant number and we will continue to settle into the bank account you have registered with them.
Do I need to change banks?
No, the EFTPOS machines will deposit your funds into any Australian business bank. As a Tyro merchant you will receive a fee free bank account and if you choose to settle in that account you can benefit from 7-day, same day settlement
Will I incur a break fee from my current EFTPOS provider?
If you cancel your contract with your current EFTPOS provider within the term of the contract, they may charge you a break fee. Talk to More Payments' Sales team about ways we can help you offset your break fees.
How long will it take to deposit my funds into my bank account?
Tyro will submit your daily EFTPOS machine settlement to your nominated bank account every business day. On weekends and public holidays, your settlement will be sent to your nominated bank account the next business day. This will mean your funds will typically be in your account within 24 to 48 hours.
How flexible is my contract with More Payments?
With Tyro EFTPOS, there is no lock-in contract, no set-up fees, no cancellation fees and no break or exit fees. All you pay is your Merchant Services fees and EFTPOS machine rental. This means you can test Tyro's EFTPOS solution and make sure it works for your business.
What is Tap & Save?
Tap & Save is commonly known as “least-cost routing”. This allows Tyro to redirect eligible debit card transactions through the network with the lowest cost. As an average, Tyro Tap & Save customers save 8.1% on Merchant Services Fees.
Can I surcharge my customers?
With Tyro’s dynamic surcharging, you can add a credit card surcharge to customer transactions with confidence. It automatically calculates your configured surcharge so you can choose to recoup your EFTPOS fees easily. This can offset the cost of your Merchant Service Fees. You can choose the amount that you wish to surcharge by card category and choose the surcharge amount as a percentage or a fixed amount per transaction. However, the RBA does not allow merchants to profit from surcharging and there may be consequences for doing so.
Can I use the Tyro EFTPOS machine to split bills?
Yes, the EFTPOS machines have a “bill split” function through the Pay@Table feature, where your POS/PMS supports the integration, which is very useful in the hospitality environment.
Can I purchase an EFTPOS machine outright?
No, EFTPOS machines are rented from Tyro and remain the property of Tyro.
Can I accept tips?
Yes, the EFTPOS machines have advanced tipping options along with other functions that aide the hospitality industry.
How can I apply?
Simply give More Payments a call on 1800 338 767 or submit your details through the “Contact” page on this website and More Payments will promptly call you back.
How can I get a quote?
Simply click the “Get quote now” button on the Home Page of this website and fill out the short form and More Payments will get back to you promptly with a quote that we can also email out to you.
How long does it take to get my EFTPOS machine?
Once your application is completed, it can be as quick as two to three business days for approval (if Tyro has received all the required information) and a further five to seven business days for your EFTPOS machine to be configured and delivered.
How and when can I get hold of Tyro Customer support?
The Tyro Customer support is available by calling the Customer Support Helpdesk on 1300 966 639.
Are there establishment or joining fees to pay?
No, Tyro does not charge any joining or establishment fees.
What supporting documentation do I need to provide with my application form?
Primarily you will need clear representations of your identification documents (for example two of the following: copy of driver’s licence; passport, or medicare card) for each signatory. Depending on the entity type of the business, we may require additional documentation to identify other beneficial owners, Trustee(s) or authorised signatories. If the entity is an Australian Company, we will need to understand who the beneficial owners are, which may involve a copy of your Share Registry/Registry of Member. If the entity is a Trust, we will need a certified copy of the signed Trust Deed(s) to establish the Trustee(s), beneficial owners and/or appointor(s) of trust as applicable. If the entity is a Partnership, we will need a certified copy of the signed Partnership Agreement to determine the partners. If additional individuals are required to be identified we will need to verify their identity as well.
What is integrated EFTPOS?
Integrated EFTPOS allows your POS/PMS system to communicate directly with your EFTPOS machine via broadband or WiFi. There is no need for complex third-party software to enable integration with Tyro; all you need is a POS/PMS system that integrates with Tyro. Tyro works closely with all major POS/PMS software vendors to provide a seamlessly integrated payment, reporting, and reconciliation solution.
What are the benefits of Tyro Integrated EFTPOS?
Tyro’s integration has many benefits including: Simple installation which results in faster setup times and fewer support calls. Fast card payment processing times at sub 1.6 seconds per transaction. Reducing double-entry data errors. Streamlined reconciliation at the end of the day. Secure encrypted transactions. Real-time reporting on your personalised Tyro Portal.
Why would I choose Integrated EFTPOS over standalone EFTPOS?
Integrated EFTPOS is now becoming the default option for businesses. This is because it allows you to serve customers faster and streamlines reconciliation.
Other providers offer integrated EFTPOS as well. How is Tyro’s solution different?
Tyro’s direct integration model cuts out the complexities, costs and risks related to using an EFTPOS middleware provider. Tyro owns all parts of the process, so you can rest assured that you are receiving premium local support whenever you need it.
If I get a fixed/countertop machine, how does it connect?
The countertop machine is 3G and Ethernet compatible. The cost is the same regardless of the connection type.
If I get a mobile machine, how does it connect?
The mobile machines are 3G and Wi-Fi compatible. There is no additional cost to utilise these connectivity options as the communications cost is included in the package.
Is the advertised EFTPOS pricing INC or EX GST?
All the advertised pricing is excluding GST.
Is there an early termination fee?
No, in fact unlike other providers Tyro doesn’t lock customers into any contracts.
Will I get any training on how to use the machine?
Tyro machines are plug and play. If you have used EFTPOS before it is as simple as turning the machine on and basic functionality remains the same. All machines have an instructional manual along with Tyro’s Customer Support.
Will my machine be NBN ready?
Yes, the mobile EFTPOS machines connect via a Telstra 3G sim card or Wi-Fi network connection so operate independently of traditional PSTN phone line connections. As such, your mobile machine will not be disrupted in any way when you move over to the NBN. (This is one of the reasons most of our clients choose to get a mobile EFTPOS machine).