The story
Tyro was originally founded as MoneySwitch Ltd by Peter Haig, Andrew Rothwell and Paul Wood in 2003. Tyro was the first new entrant into the Australian EFTPOS business since 1996. It was the second company in Australia to be granted a Specialist Credit Card Institution (SCCI) licence after GE Capital.
In 2012, Tyro exceeded $3.5 billion of card transaction volume.
In 2015, Tyro was granted a "banking licence", becoming an "Authorised Deposit taking Institution (ADI)". It was the first Australian technology company to be granted this licence by the Australian Prudential Regulatory Authority.
In October 2016, Tyro appointed Gerd Schenkel, founder of UBank and Telstra Digital as its new CEO. Gerd resigned in June 2017. In January 2018, Tyro appointed Robbie Cooke as CEO. Cooke was formerly managing director of Tatts Group. In June 2022, Robbie Cooke resigned as CEO. Jonathan (Jon) Davey was appointed as the new CEO on October 3. Jon Davey had led Tyro’s health business unit, following Tyro’s acquisition of health fintech Medipass.
In February 2017, Tyro became the first bank to implement payments via Siri. At the same time, Tyro announced a partnership with Afterpay.
On January 15, 2020, Tyro requested a trading halt on its shares on the same day a short selling firm, Viceroy Research, published a report alleging that a large number of terminals were taken down.
In January 2021, Tyro experienced a terminal connectivity issue that impacted many of its merchants.
In December 2025, it was announced that Tyro had agreed to acquire Melbourne-based financial technology start-up Thriday, an SME financial management platform, for an undisclosed amount. The transaction, subject to customary closing conditions, was expected to complete in January 2026 and marked Tyro’s expansion into integrated business finance and administration software.
From Wikipedia’s article on Tyro (company), shared under CC BY-SA 4.0.5