Hi Bickford,If you wanted to expand on what your feel is BS i'm...

Hi Bickford,

If you wanted to expand on what your feel is BS i'm more than happy to clarify. Tyro pitched integration with BNPL integrator's as plans for future growwth. They HAD this in the past with Afterpay and it didn't work as Afterpay simply cut the middle man and developed integration directly with the point of sale partners.

Regarding sticky client base, the cost of on-boarding NEW businesses is often far greater than the revenue derived from these merchants when account for churn and the failure rate for new businesses. This is where my concern stemmed from regarding their ability to efficiently service this market with the presence of Square card readers that can be purchased outright (rather than monthly rental costs).

Given the age of their hardware and terminal, I also foresee a huge upcoming cost in introducing a new model within the next 12 months. Replacing this for 30k merchants is not cheap and it will be interesting to see if it has any functional point of difference to the current offering.