Tyro is aware of discussions regarding a proposed ban on debit surcharging for merchants in Australia, as well as the RBA Review of Merchant Card Payment Costs and Surcharging released on 15 October 2024.Tyro has been actively engaged with the RBA and welcomes reviews that assess the true cost of card acceptance for small businesses and consumers.Tyro CEO and Managing Director Jon Davey said: “Debit offers consumers and merchants the ability to make convenient, secure and traceable transactions. Consumers should not pay excessive surcharges, nor should businesses fund the consumer benefits that come with high- cost cards and loyalty programs. We support any review that assesses the true cost of card acceptance, including both debit and credit, for the fair regulation of payment acceptance in Australia.”Tyro will be hosting a short briefing call for investors and analysts at 1pm (AEDT) this afternoon.
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