Very interesting conversation and great to have a discussion...

Very interesting conversation and great to have a discussion around what could disrupt tyro. (apart from square/bigger players with economy's of scale).

I've been watching as many transaction as I can see when I'm out and about and very very rarely do people swipe, most transactions are tap or phone use, so I can't see the bulky terminals lasting too much longer. but that's not really the secret sauce of what Tyro is.

As I see it the real secret sauce is the intergration to the POS software.

So the process at the moment goes - consumer transaction (Tyro)- through the POS - to merchants bank and in the back ground from POS to merchants accounting software (Xero/myob) - then to the ATO, the whole thing is seemless and auto populates all the way. this is so incredible and saving millions of human hours.

So I don't see the consumer having a chip, phone, eye contact or anything else changing the link with Tyro and the POS software.

maybe the real disruption could be the POS or the accounting software taking over but then they would have to have a banking license which would be unlikely for a tech platform.

I don't know food for thought - would love smarter people then me to share there opinion..