Comprehensive Guide to Tyro EFTPOS Fees and Surcharges

Tyro EFTPOS offers a reliable and efficient payment solution for businesses across Australia. Understanding the fees and surcharges associated with Tyro EFTPOS is crucial for businesses to manage their costs effectively. This blog provides a detailed overview of Tyro EFTPOS fees and surcharges, helping businesses make informed decisions.

Breakdown of Tyro EFTPOS Fees

1. Merchant Service Fees (MSF)

• Definition: A percentage of each transaction processed through the Tyro EFTPOS terminal.
• Variation: Varies based on card type and transaction value.

2. Terminal Rental Fees

• Definition: Monthly fees for renting EFTPOS terminals.
• Variation: Depends on terminal type and required features.

3. Transaction Fees

• Definition: A small fixed fee per transaction.
• Purpose: Covers processing costs.

Understanding Tyro Surcharges

Surcharges allow businesses to recover the costs of card acceptance from their customers. Here’s how Tyro handles surcharges:

Dynamic Surcharging

• Function: Automatically applies configured surcharges to card transactions.
• Supported Machines: CounterTop, Mobile, Tyro Pro.
• Benefits: Helps recover most costs associated with card payments.

Compliance

• Regulations: Surcharges must comply with the Reserve Bank of Australia (RBA) and Australian Competition and Consumer Commission (ACCC) guidelines.

Special Features and Programs

No Cost EFTPOS

• Offer: $0 Monthly Bills and “Keep what you earn”*.
• Conditions: Applies if businesses transact more than $10,000 per month. Some exclusions apply.

Pay@Table and SplitBills

• Features: Tipping and split payments available with supported POS/PMS integration.
• Modes: Restaurant, Bar, Retail.

Tyro Go EFTPOS Reader

• Function: Mobile payment solution requiring a Bluetooth-enabled device.
• App Requirement: Tyro Go App installation.

Tap & Save

• Feature: Least cost routing for contactless debit card transactions.
• Savings: Varies by business based on transaction volume and card mix.

Additional Considerations

Internet Requirement

• Connectivity: Requires Ethernet, Wi-Fi, or mobile data to process transactions.

GST on Fees

• Inclusion: All Tyro fees are subject to GST, detailed in monthly invoices.

Frequently Asked Questions (FAQs)

1. What is the Tyro surcharge?

• A fee applied to credit card transactions to cover processing costs.

2. How much does EFTPOS charge per transaction?

• Includes a Merchant Service Fee (percentage) and a small fixed transaction fee.

3. Does Tyro charge GST on fees?

• Yes, GST is charged on all applicable fees.

4. How long does Tyro take to pay?

• Transactions are typically settled into the business’s bank account the next business day.

5. What are merchant fees?

• Charges paid by businesses for processing transactions through EFTPOS systems.

6. How do I reduce my card transaction fees?

• Utilize Tap & Save, negotiate rates based on volume, and apply surcharges to recover costs.

7. What are Merchant Service Fees?

• Percentage-based fees on each transaction processed through the EFTPOS system.

8. How do I inform customers about any surcharges?

• Display surcharge information at the point of sale and on receipts.

9. Is a surcharge included in a refund?

• Typically, the surcharge applied to the original transaction is included in the refund amount.

Partner with ARC HOST for Your Tyro EFTPOS Needs

ARC HOST is a proud partner of Tyro, providing businesses across Australia with exceptional EFTPOS solutions. If you need a Tyro EFTPOS machine for your business, contact us today.

Contact ARC HOST today for your Tyro EFTPOS system needs. We serve Australia nationwide, ensuring you have the support and technology you need to succeed.

Understanding Tyro EFTPOS fees and surcharges is essential for optimizing your payment processing and enhancing your customer experience. Make informed decisions with Tyro and ARC HOST, and drive your business forward. Read our A Comprehensive Guide to Tyro EFTPOS Payment here.