This new offering leverages Tyro’s software development kit (SDK), enabling developers to integrate secure and fast tap-to-pay technology directly into iOS and Android devices, applications, and POS systems. Once incorporated into an NFC-enabled POS system or compatible device, merchants can process payments without requiring additional hardware.
The embedded payments solution offers key benefits for businesses:
Device flexibility: accept payments via existing Android or iOS hardware without a separate EFTPOS terminal.
Better customer experience: simplify checkouts with a unified POS and payment system.
Cost savings: eliminate monthly EFTPOS rental fees with a transaction-only model.
Fast payments: access funds daily, including weekends, through Tyro’s fee-free bank account.
The solution is now available to merchants utilising Liven, Metapos, and Ivida POS systems. Tyro’s Embedded Payments SDK is also accessible to software developers and POS partners, allowing integration with NFC-enabled iOS or Android devices.
Australian businesses are increasingly prioritising faster, simpler payment systems to meet consumer expectations for convenience. As the retail and service industries embrace digital transformation, customers now prefer checkout experiences that are quick, secure, and integrated into existing workflows. Embedded payment solutions address these demands by eliminating the need for separate terminals and reducing the time required for transactions. This shift is particularly beneficial for SMEs, which account for 98% of all businesses in Australia and are often constrained by high operating costs and limited resources.
The adoption of NFC technology for contactless payments has surged in Australia, further driving demand for solutions like Tyro’s. Data from the Reserve Bank of Australia reveals that over 80% of in-person card payments were contactless in 2022, reflecting consumer preference for tap-and-go options. This high adoption rate positions Australia as one of the global leaders in NFC payment technology, creating a fertile market for embedded payment systems that enhance these capabilities.
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