@JoeGamblerAll business really need to do is have a redundancy...

@JoeGambler
All business really need to do is have a redundancy in place in the cupboard for a minimal fee.

1. Tyro is the cheapest
2. Do you think other merchants don't go down? ( I recall CBA, NAB and Westpac down last year many times and probably hardly anyone remembers). Lot's of threats etc... but all water under the bridge in a few days. Long term impact Nil.
3. Of the percentage effected its important to know a big portion had service restored by the weekend. They mentioned majority. So its business as usual for most.
4. Volume lost - there really won't be much as per 3 above. Note thats not counting even Bendigo and Adelaide bank terminals being replaced by Tyro and the lack of using cash by customers due to the pandemic. The pandemic has really changed behaviour to use tap and go which is a major positive for Tyro.
5. Litigation? What a load of rubbish its up to each business to have contingency plans. They will ask business owners what contingency plans they had in place. Did they find other solutions in the meantime. You can't run a business and sit on your hands and ask for compensation. You need to demonstrate you couldn't do anything. Maybe the can claim on business disruption insurance depending on their policy.
6. Going forward the business that are likely to open in the next two months may shy away from Tyro initially (although perhaps they wont when everything returns to working order due to the lower fees) but for business starting in 3 months time they won't even be aware of this.