Tyro, the EFTPOS partner for many hundreds of newsagents, today issued a press release relating to their submission to the RBA on EFTPOS. It starts with…
Australia’s four major banks and Woolworths and Coles will potentially be the big beneficiaries if a new regulation of the EFTPOS payments system is allowed to proceed, the country’s only independent EFTPOS provider warned today.
Under the proposals, the major banks and retailers will be allowed to negotiate special deals for themselves, while charging small and medium sized retailers higher fees if they wish.
This is because the big four banks and Woolworths and Coles through their ownership in eftpos Payment Australia Limited (ePAL) are being given the freedom to just do that.
Click here to see the press release and read more about the Tyro position on behalf of their small business customers. The Tyro fight is important to newsagents.
I cannot begin to dare post a reply to this.
Wheres the ACCC when you need it. Of doing its political masters bidding.
Australia is in a transition phase – from democracy to oligarchy !
It’s not just the EFTPOS issue, although thats important, the massive market power of the big 2 supermarket chains is creating enormous social and economic distortion.
We are no longer on an even playing field.
Hi all
Thanks for posting this important update Mark.
As the only independent alternative in this space Tyro is, in its own small way, part of the solution.
Tyro is taking on the establishment and need your help to continue the fight.
What’s more, Tyro have built an EFTPOS platform that is second to none in Australia, providing high speed, integrated EFTPOS that doesn’t require a phone line. The objective is to save you time and money AND shake up a market dominated by 4 big banks.
Don’t hesitate to contact Chris Ball direct to discuss:
direct line: 02 8907 1748
email: cball@tyro.com
before i go making phone calls to my bank and tyro could others please tell me when there friday sat and sundays transaction go into there bankaccount . At the moment fridays go in on tuesday (monday night sometime)and sat sun goes in tues night (shows up wed .
Is anyone else like this or is it a problem with my bank and tyro ?
Same here Shaun, it is the only problem I have with Tyro.
Weekend eftpos does not hit until after the lotto drawdown, which makes cashflow tight some weeks.
I have hunted this down previously and found my bank to be the issue. They controlled the timing.
Out Tyro settlement hits our account at 11:30 am Monday for Friday transactions and 11:30 am Tuesday for Sat, Sun and Mon transactions. This is earlier than when we had CBA XPOS. Lotto sweep is Tuesday night.
I am waiting to hear back from the bank on this one ,at the moment they are blaming tyro and obviosly trying to sell there same day settlement .same day settlement is starting to look pretty good at the moment . Only problem is I do not want to be contracted for the next few years with al the changes to eftpos that are going on .so I told them that if your eftpos is that good why have a contract in place ,the service should be enough to keep me without being tied to it ….