Payments company Tyro has recorded an 11.3 per cent increase in normalised gross profit to $68 million after its transaction value swelled by 31 per cent to $15.8 billion in the half year to December 31.
Tyro said the emergence from COVID-19 lockdowns and government actions to encourage a return of workers to central business districts would provide impetus for card present transactions in retail and hospitality over the coming half.“Our start to the second half has seen our strong momentum continue,” said chief executive Robbie Cooke.
He said growth in the second half would be boosted by the rollout of a new EFTPOS card reader, initially to merchants through an alliance with Bendigo Bank, and continuing work on a new android based terminal, which will supplement its fleet. Tyro said its result came against the backdrop of continuing costs related to COVID-19 assistance to merchants, including rent relief for terminals and the deferral of certain fee changes.