Tyro integrates the Pismo platform

By integrating Pismo’s payment-processing platform, Tyro, which specialises in merchant credit, debit, and EFTPOS acquiring, focuses on increasing its banking offering through the former’s solution. Pismo currently provides a complete technology platform for card issuing, core banking, digital wallets, and sellers, supporting them in developing new products and responding to market demands. Tyro merges technology, partnerships, and its team to create products that simplify payments and commerce in Australia. The company has more than 330 PMS/POS partners and over 66,000 business customers.

Representatives from Tyro expressed their enthusiasm over the collaboration with Pismo, as it supports the company’s development strategy and improves its cashflow management solutions for small and medium-sized enterprises (SMEs) across Australia. According to Pismo’s officials, the two companies intend to build the foundation for long-term growth by supporting the expansion of businesses based in the region. As per the information detailed in the press release, both technical teams are working to integrate the systems, with the completion of the process being projected to happen in the first quarter of 2024.

In addition to the adoption of Pismo’s payment-processing platform, Tyro’s product portfolio includes the Tyro App, Bank Account, Business Loans, Business Term Deposit, and Connect. Through its solutions, the company aims to support Australian enterprises in expanding their businesses by offering them access to flexible funding, bank accounts with interest and no fees, and a range of term deposits for Tyro EFTPOS and ecommerce customers. As an integration hub that plugs apps into the POS system, Tyro Connect allows businesses operating in the hospitality sector to leverage and manage these solutions. The product works with POS software developed for cafes, restaurants, QSRs, pubs, clubs, and bars.

Furthermore, Tyro’s solutions are used in several industries, including hospitality, retail, health, services, accommodation, corporate, and franchise. By working with Tyro, enterprises can simplify their processes, while maintaining cost-effectiveness and efficiency. The collaboration with Pismo is not the only one for the company, as in December 2023, it partnered with American Express to launch OptBlue in Australia. OptBlue was intended to allow Tyro merchants to process American Express Transactions at a competitive rate to other card schemes, while also receiving a single onboarding journey, servicing contact, and settlement and invoicing experience.

Pismo’s presence in Australia was also solidified in November 2023 when the company partnered with @Pay to support the latter’s operations by offering its cloud-native API-based platform. The platform allowed merchants to receive payments from customers authorised for both in-store and online transactions. The collaboration was intended to enable @Pay to facilitate the offering of Buy Now, Pay Later (BNPL) services, as well as debit, credit, and prepaid cards. Also, the integration of Pismo allowed the company to use the latter’s platform to tokenise cards for inclusion in Apple and Google Wallets.