Australia’s Tyro Payments reports that its transaction volumes are steadily increasing during coronavirus outbreak
Sydney-based Tyro Payments (ASX: TYR), an Australian Fintech institution that specializes in merchant credit, debit and EFTPOS acquiring, reports that its transaction volumes during the past three weeks have been steadily increasing.
Tyro Payments notes that from March 1 to March 20, there was a 20% increase in the number of transactions it processed (year-on-year). The neobank has reportedly processed $1.19 billion worth of transactions this month.
However, Tyro acknowledges that there has been a slight slowdown on the 29% growth in transaction volume recorded last month, when volumes reached $1.785 billion.
Tyro offers various digital payments and banking solutions to over 32,000 merchants, which mainly include small and medium-sized enterprises (SMEs).
Tyro’s management confirmed that the digital bank remains committed to supporting its clients as they deal with the coronavirus (COVID-19) outbreak.
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