Double Gold for Tyro at Tech Design Awards
Australia’s leading independent payments provider, Tyro Payments, has taken out a double Gold win for its App at the recent DRIVENxDESIGN 2017 Tech Design Awards for the FinTech and Future of Work categories. The Tyro App offers an integrated solution for small business owners to manage all of their finances – connecting them with their accountants, staff, bookkeepers, employees and other signatories. Other key features include automated batch and payroll payments and the ability to monitor EFTPOS transactions easily. From the App, business owners can also access Tyro Smart Growth Funding to access and organise business loans. Tyro’s Director of Product, Kareem Al-Bassam said Tyro is listening to the needs […]
Tyro sticks to strategy as CEO Gerd Schenkel exits
It was back to business at Tyro Payments yesterday after the fintech elder severed links with chief executive Gerd Schenkel, who was hired amid great fanfare only eight months with a mission to transform Tyro into an SME bank. Tyro’s decision to target the poorly serviced SME sector was prompted by non-executive director and Atlassian founder Mike Cannon-Brookes. Cannon-Brookes scolded his fellow board members for lacking ambition and being happy to live off the fat from unlisted Tyro’s payments platform, which generates $8 million-plus in earnings from servicing the EFTPOS requirements of its 18,000 small business customers. Instead of telling him to go jump, the board agreed. Tyro secured a […]
Jost: Pace of reform is too slow
Australia must disrupt its banking regulations or face waking up one day to find a FinTech innovator such as Chinese giant Alibaba becoming the bedrock of our financial system, rather than the Big Four banks. So says Jost Stollmann, a German expat with decades of experience in technology entrepreneurship, government and FinTech innovation. “One day we might not be talking about the Big Four but AT&T Financial Services and Alibaba owning banking services in Australia,” says Mr Stollmann. Mr Stollmann sees Australia at a tipping point, not only with FinTech regulation but also with its overall innovation thrust. In a strengths, weaknesses, opportunity and threat analysis, Australia has great lifestyle […]
Afterpay and Tyro announce SME payments partnership
Payments fintechs Afterpay and Tyro have struck a deal that will see Afterpay’s deferred payment product rolled out to thousands of small businesses using Tyro’s EFTPOS terminals, which compete against those offered by the big banks. The commercial partnership will allow Tyro, which gained a banking licence last year, to deepen its relationships by integrating Afterpay’s service with point of sale software systems to help customers increase sales. For Afterpay, the deal will extend its reach into small business, lifting merchant fee revenue, and potentially open up new markets such as medical practices, where Tyro’s terminals are popular. Afterpay’s investors have said one of the big challenges for the young […]
Mint Payments expands travel portfolio with new partner agreement
Payments processing technology provider, Mint Payments (ASX: MNW) has partnered with one of Australia’s most affordable and adaptable travel agency software solution providers TravelPartner (Aust) Pty Ltd, signing a two-year licence and distribution agreement to deliver its fully integrated online payments processing service to its growing network of travel agents. TravelPartner has integrated Mint’s card payment module into its core SaaS product offering VTO Ultimate to enable seamless and easy credit card payment acceptance by travel agents for all travel and service fee transactions. This partnership removes the current manual effort required by the agent as the software seamlessly creates an invoice, takes payment, generates a receipt and reconciles it […]
Fintech is going to be much bigger than you think
If payments can be made anywhere, anytime, across any device, why do you need a currency? Or even a bank? The “fintech” revolution is upon us – but what we’ve seen may only be the start of it. Fintech – a term coined with the listing of peer-to-peer lending platform LendingClub on the New York Stock Exchange in late 2014 – is not only a portmanteau of ‘financial technology,” it describes a whole new industry composed of companies that use technology to make financial services more efficient. It’s big, it’s growing and it’s disruptive. “Fintech is set to change finance as profoundly as the issuance of the first permanent banknotes […]
Brisbane Is Playing Host To Australia’s First Cashless Cafe
Do you use your credit card or your phone to pay for your morning coffee, or are you still holding on to that pocketful of coins? Sydney-based coffee roastery and cafe chain Pablo & Rusty’s is opening Australia’s first cashless cafe in Brisbane, ditching the notes and coins in favour of credit cards, phone-based payments and even smart coffee cups. With a number of successful locations already opened across Sydney (which do indeed take cash), Pablo & Rusty’s was planning the opening of their Brisbane store when they had the idea to make it entirely cashless. “We were just thinking through some of the logistics of how to manage cash […]
