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Based in Sydney, Australia, Tyro Payments is a specialised banking institution that provides merchants with Australia’s first truly transparent credit and debit acceptance system, offering merchants and consumers a better, faster and more secure payment experience.
According to Jost Stollman, CEO of Tyro Payments, “Banksys was chosen by Tyro as its EFTPOS terminal vendor because of its open system architecture, excruciatingly high security standards and track record”.
Within two months of the first developments, a prototype payment application was running on the terminals and within nine months, live testing started in a production environment with customers going live another two months later. The company has been encouraged by the overwhelmingly positive feedback on speed, ease of use and the online reporting in their trial phase, allowing commercial deployment of the terminals to be ramped up gently. First deployments of the new solution began in November 2006 and the official market launch took place in April 2007. Tyro Payments has recently signed agreements with a number of major Australian merchants, such as Toyota Financial Services, and with Health Communication Network (HCN) for an integrated medical expenses e-claiming solution.
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