1. Does anyone still recall CBA outages late last year. I think there was at least 3 in 2020. Has there share price suffered? No its recovered and some. Same happened with NAB on at least one occassion for several days too. Westpac we with all that overseas transactions going unreported and being involved in transferring human traffic monies. No thanks I'll stay with Tyro.
2. Tyro is still the lowest cost merchant fee processor. Business always want to maximise bottom line.
3. Most customers of Tyro are unaffected. Those affected again most will have at least one working terminal. By now of those effected over half would be fixed by the end of the day. Then the remaining terminals (most being additional terminals for the same business as that's how the business prioritised fixing the issues) will be fixed.
4. To those business owners who are screaming some advice. Ever heared of business continuity planning? Ever thought of redundancy having multiple terminals.
5. Go out and buy a square and continue business and then put in in the cuboard as precausion.
6. Finally to those who think square could replace Tyro. Imagine this happened to square what are you going to do? Call a international office and tell about your complaint or put it on a ship (as planes aren't flying) and ask for a replacement or fix? Thank your lucky stars you have a processing merchant with an Australian address, domiciled in Australia and sends out delivery drivers to pick your terminals and fix the problem. Never forget having local business partners is ALWAYS better than overseas merchants. Ever had a problem with Paypal, you will know what I am talking about.
So that's my 2 cents worth. The share price will recover as the economy continues to open and we will be at $3 in no time in my honest opinion.
TYR Price at posting:
$2.32 Sentiment: Buy Disclosure: Held
(20min delay)