Click here to see a press release issued on Friday last week by Tyro, the broadband EFTPOS processing business loved by newsagents. This press release continues to raise the issue of fairness as embodied by this quote from Jost Stollmann, CEO of Tyro.
“We certainly consider it unfair for Australia’s shops to face the risk of up to 10 cents higher eftpos costs, when Coles and Woolworths continue to be paid 5 cents for each of their eftpos transactions.”
I think it’s unfair too. It looks like the banks are about to rip us off – added and abetted by the Reserve Bank plus Coles and Woolworths.
My question for newsagents is – what have you done to fight about this. I know that some of you have … but not enough. Every newsagent should be incensed about this and lobbying their bank and local politicians. Come October 1 it will be too late.
In the meantime, I’d encourage newsagents to switch from their current bank EFTPOS provider to Tyro – you’re likely to save money. Most newsagency systems interface directly to Tyro.
I have written to the ACCC, I wrote to all the papers and had articles printed in both Quest and the Courier Mail, I was interviewed on ABC Radio with the CEO of EPAL, I have written to many politicians.
My point is that this IS a newsworthy item, you WILL be well recieived by the press. I would like to think that all on this blog could write an email or three and that volume of traffic will generate significant press interest. With the press involved we can change this.
I agree Tyro is excellent at POS in avoiding keystroke errors however its cost is approx $1000pa more expensive than the previous provider due to the higher charges for Premium Credit cards and Scheme Debit cards which are now becoming more popular
@Rory $1000 more expensive at what volume of transactions ? Also how will it compare with the upcoming fee changes ?
I’m unlikely to change to Tyro as I just negotiated an improved rate on EFTPOS transactions with my bank but it’s always worth looking at alternatives to put more money back in my pocket.
on an average month 32% of our credit card transactions are attracting 1.33% instead of the .65% for credit cards and 20% of our debit cards are attracting a flat fee of 30cent instead of 9 cents.
Must be location specific. I’m saving money with Tyro over ANZ. Also Tyro will look after me post October 1.
Hi guys
Thanks for your post Mark. You are correct in pointing out that Tyro will not be increasing headline fees as of 1 October, which we are really excited about. So aside from obvious functionality upside (integration, raw speed) Tyro should also be a lot cheaper (no phone line, no increase on headline fees). We continue to fight to maintain our so called bilateral agreements putting us and you at an equal footing with Coles and Woolworths.
Rory, sorry to hear that we’ve worked out to be more expensive. Occasionally, given the card mix unique to certain locations or style of newsagency this may be the case. Unfortunately, the interchange fee costs of premium card transactions require that we charge a premium on these transactions. We are totally transparent about it. You can see a full breakdown of our costs within your web login. However, all things considered and from my experience we are usually at least cost neutral. Given the looming increases from the big banks as of 1 October, we should be able to save newsagents a lot of money. We understand that St George and Westpac have already announced the untimely and unjustified fee increase.
If anyone would like to understand the benefits of Tyros integrated, EFTPOS and how we can hopefully save you some money too, don’t hesitate to email me or call me direct on 02 8907 1748. Even if you would just like to discuss this EPAL issue, don’t hesitate to give me a buzz.
The fight against EPAL’s EFTPOS tax continues!
Hi , do Tyro machines have pay pass in them ??