Lawyer here - that clause is not going to serve much protection...

Lawyer here - that clause is not going to serve much protection if Bannister thinks there is a substantive claim. But you are right - it will unlikely eventuate. There's a bunch of issues that I can see (but I wouldn't find too much comfort in that as that will not stop Bannister from trying as that is their job after all - there's also the macro outlook where they want to be seen as helping small independent businesses in the midst of corona). Even leaving the legal merits to one side, a lot of this class action stuff is a numbers game and I question if it would be commercially viable for Bannisters to even try. Though they would defs conduct it as an open one - i.e. everyone impacted is automatically included and they do not have to opt in. That's still 30% and even then impacted at different levels.

If things look bad from Tyro's end (I'm sure they have lawyers checking it out) I would not find it surprising if Tyro takes the first step and offers a monetary remedy and as a result they'd likely be cutting the potential class action before it grows in to something concerning. Not a bad option when considering the long run - two birds one stone - stops the class action and builds potential loyalty/brand image. What they do of course depends on the amount liable.