something to PONDER for tomorrow :What’s next?The company didn’t...

something to PONDER for tomorrow :
What’s next?

The company didn’t provide any guidance for financial year 2022.

However, it said it’s expecting a return of workers to Australia’s CBDs which will likely help boost card transitions in retail and hospitality in the second half.

Additionally, the company is looking to roll out its new card reader shortly and is working on its android-based terminal.

Tyro also provided a trading update for the start of the second half.

The company’s transaction values for January increased 35% on the previous year’s to $2.7 billion.

For the first 3 weeks of February, its transaction values were 50% higher, reaching $1.8 billion.

Its eCommerce transactions grew to a new record of $36.5 million in January – up 836% on the same month of 2021.

Its payments business – post Bendigo Bank’s share of the profits and on a normalised basis – saw $11.1 million of profit for January, a 24% increase.

Finally, for the first 7 weeks of the calendar year, Tyro’s banking business saw loan originations total $5.8 million – a 1,099% increase.

The bank business’ deposit balance also remained relatively stable at $96.1 million at the end of January.