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EFTPOS Terminal Provider Tyro Enters Second Week Of Costly Outage

Aussie EFTPOS provider Tyro Payments is struggling through its second week of service outages, with as many as 10,000 terminals affected by the system failure.

Tyro is the largest provider of EFTPOS services outside of Australia’s big four banks, providing payment services to over 32,000 SME business customers and around 60,000 POS payment devices.

According to The Australian Financial Review, the issues affecting Tryo customers have stretched into its sixth day and one business even claims it has lost $40,000 in revenue.

“Thanks Tyro, you have just about killed my small business,” one customer wrote on the company’s Facebook page.

Terminals were ‘bricked’ on Tuesday night and Tyro made an announcement to the exchange on Thursday morning last week.

“Tyro is also doing all that it is able to mitigate the impact upon merchants with the issue appearing to impact ~15 per cent of our terminal fleet as active in January 2021,” the company said in a statement.

“The issue has caused a ~5 per cent reduction in expected transaction values over the period in question, however the total impact will only be able to be quantified once the issue is finally resolved.”

In a statement to customers on Friday, Tyro said the problem has been identified as a “configuration issue” and confirmed the issue would need to be resolved by replacing devices entirely.

Tyro is chaired by former Telstra CEO David Thodey and the company was the largest Australian float in 2019.

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