Ann: Half Yearly Report and Accounts, page-72

the 15 m is just an estimation of the total cost that could come from dealing with and fixing the event

they made it quite clear that they value their customers- last year they/ shareholders granted interest free loan holidays to tyro loan customers- thought with COVID they would see 1.5 m ish in loan losses- they worked with customers and wrote a lot of the provision back and limited losses whilst assisting customers to survive - most of those customers if affected will probably not forget and will probably work with tyro because of the goodwill the company extended

Money spent to date - waiving of merchant fees in jan - and triple that amount on courier fees as they raced to get customers up and running

some of the 15 may be spent retaining customers going forward maybe not - tyro can see a customers transaction data- it’s not like someone can say oh we lost 10k over two days when their average is 750 a day- and Losses can’t be more than revenue - plus there are terms and conditions - plus let’s be honest outages happen - when you phone goes down you have a mobile

needless to say one of the other things tyro has is transaction data - quite valuable - and a lot of it - so they will know who to help- who really got crunched- and by how much on average-

but let’s not forget the gross profit just delivered they can afford to spend a bit of money on their clients to rebuild a bit of trust- everyone is on edge from COVID and clearly the more retained terminals the better and clearly tyro think every customer is valuable

I can tell you - operating a international luxury store and network
For 17 years - on occasion the terminal would fail- and it would take hours to get into the bank- a few times it took many many days to get terminal fixed and in the meantime we had to arrange direct transfers- take the credit risk and put people on account - some people said they would come back and never did- all part of business. If it’s not terminals it’s someone screaming they must get a cash refund for goods they didn’t by that one of those kids broke and somehow that was warranted - never a dull moment in retail

But I can say - there was never any recognition from the bank terminal providers as to the cost- hassle or potential losses - there wasn’t even a fee rebate for the days down

The good news is they are building this dongle- another excuse to build customer satisfaction and loyalty and apparently a first in terms of merchant services - gives tyro anther reason to engage with Their existing customer base imo

customer churn rates are as per historical data
Some big fees waived and customer
Numbers still growing- the numbers out were not major in terms of time - my bet is they will write back some of the provision in due time and apart from improving their product with the dongle- keep developing the terminals capabilities to accept more and more payment methods resulting in more profitability

see how it goes - main thing is they have now experienced the problem and a building something which will be low cost to ensure it doesn’t happen again - a development which will also Give them a good point of positive difference in the marketplace in which they operate—

they seemed to be right on top of the problem - their recovery worked and now they are advancing the system to ensure it doesn’t happen again especially as the number of terminals and merchants are growing weekly.

just my thoughts - dyor

won’t get to any brokers target in a day- certainly not the worst tech company on the board as screamed by the short sellers - crap companies don’t generate that much of a dollar amount or percentage increases pcp



Shorts won’t give up that easy- some profit taking by bulls after stomping a few heads is deserved- they will be back as the short interest is too high imo —-

good luck