Question 1

What is Tyro?

Accepted Answer

Tyro is an Australian payments and financial technology company that specialises in merchant credit, debit and EFTPOS acquiring services. Operating as an Authorised Deposit-taking Institution (ADI), Tyro is the first technology company in Australia to be granted a full banking licence.

The company serves over 76,000 business customers across Australia, primarily small and medium-sized enterprises (SMEs). Tyro provides payment solutions tailored to specific industries including hospitality, retail, health, and services.

Question 2

When was Tyro founded?

Accepted Answer

Tyro was founded in 2003 by Paul Wood, Peter Haig, and Andrew Rothwell, originally as MoneySwitch Ltd. The company was established in response to the Reserve Bank of Australia's call for greater competition in the payments market.

When Tyro launched in 2005, it became the first new entrant into the Australian EFTPOS market in over a decade. In 2015, the company achieved a significant milestone by obtaining a banking licence from the Australian Prudential Regulatory Authority (APRA), making it the first Australian technology company to be granted this status.

Question 3

Where is Tyro headquartered?

Accepted Answer

Tyro is headquartered in Sydney, New South Wales, Australia. The company's registered office is located at Level 18, 55 Market Street in Sydney's central business district.

As an ASX-listed company (ASX: TYR), Tyro went public in December 2019 in what was the largest IPO by market capitalisation on the Australian Securities Exchange that year.

Question 4

Where does Tyro operate?

Accepted Answer

Tyro operates throughout Australia, servicing businesses across all states and territories. The company provides its services through a network of over 450 point-of-sale (POS) system integrations and direct sales channels.

While headquartered in Sydney, Tyro's technology-driven model allows it to support merchants nationwide through cloud-based solutions and remote support infrastructure.

Question 5

What services does Tyro offer?

Accepted Answer

Tyro offers a comprehensive suite of payment and banking services designed for Australian businesses:

Payment Solutions: In-person EFTPOS terminals (including Tyro Pro and Tyro Go), online payments, mobile payment acceptance, payment links, and integrated Medicare and private health insurance claiming for healthcare providers.

Banking Products: Tyro Transaction Account, business term deposits, foreign exchange services, and lending solutions. The transaction account features no monthly fees, same-day access to takings, and supports PayID, PayTo, OSKO, and BPAY.

Digital Services: The Tyro Portal and Tyro App provide real-time transaction monitoring, payment scheduling, and business management tools. The company's cloud-based platform integrates with over 450 POS systems and offers industry-specific features for hospitality, health, retail, and services sectors.

Question 6

What makes Tyro unique?

Accepted Answer

Tyro distinguishes itself as Australia's only independent technology company with a full banking licence. The company pioneered several industry firsts, including cloud-based EFTPOS, integrated Medicare rebates, and least-cost routing (branded as Tap & Save).

Tyro's commitment to innovation is evident in its 99.99% payment processing uptime and Australian-based 24/7 customer support. The company was the first Australian bank to integrate with Siri for payments and the first to launch the Amex Opt-blue platform for merchants.

Unlike traditional banks, Tyro focuses exclusively on business customers, particularly SMEs, with no lock-in contracts and transparent pricing. In December 2025, the company announced its acquisition of Thriday, an SME financial management platform, marking expansion into integrated business finance and administration software.

Question 7

What type of financial institution is Tyro?

Accepted Answer

Tyro is an Authorised Deposit-taking Institution (ADI) in Australia, which is the Australian equivalent of a licensed bank. It is regulated by the Australian Prudential Regulatory Authority (APRA) and holds both an Australian Financial Services Licence (AFSL 240718) and an Australian Credit Licence.

The company operates as a neobank and fintech hybrid, combining traditional banking services with advanced payment technology. Tyro self-describes its strategy as "nextgen banking," positioning itself as a technology-first alternative to traditional banks for the business segment.

Tyro

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About Tyro in Australia