Totally incorrect.
Tyro was born out of being at the cheap end of the market.The reason people moved to Tyro was because they were offering under 1% fees. Banks at this stage were offering between 1.7-1.9% (ANZ and Commbank). Square came into the market with a very nice POS system which in turn had its own merchant facilities. That was their point of difference; not just a terminal but a FREE POS system.
Tyro / Square / CBA now make money by lending to their customers through the terminals. Constant emails and pop ups asking if you want a loan based on how much you are putting through your terminal. You then pay a % off each takings so you hardly see the fee. They have known this will be phased out since mid last year when they all started pushing loans to merchant customers at a 12-15% rate. That’s how they are forward planning .
TYR Price at posting:
75.5¢ Sentiment: Sell Disclosure: Not Held
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