Integrated EFTPOS now reducing bank fees


In the past, the big push for integrated EFTPOS with Tyro was the speed. Imagine this a customer walks into your shop, picks up a few items,  makes his way to your sales counter and sees the queue, puts the things down and walks outs. The big plus for integration was that as most people now use an EFTPOS card to buy, by having the EFTPOS integrated, you could save some time on each transaction as well as having less keying mistakes. Today I would say with improvements in technology doing EFTPOS transactions with an integrated EFTPOS  is faster than with cash.

What they now have is an option to reduce fees through least-cost routing. What it does is that when an EFTPOS transaction is done, there may actually be a few ways that the funds can flow from their account into your account. What Tyro does is select the route that is the cheapest.  Using this a merchant saves on average about 7%.

If you want to find out more, click here.



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