Tower Blog

A blog about smart POS software for independent small businesses.

Category: Eftpos (page 2 of 3)

Easy Eftpos processing for retailers in New Zealand

The Eftpos processing services integrated in our Point of Sale software for New Zealand retailers provide us not only with excellent tools for NZ retailers, they also provide us with experience and insights which are useful to Australian retailers.

Being skilled in multiple Eftpos processing platforms and technologies better informs our software development and support work.  The winners are our retail partners as they software they get to use reflects our broad experience.

Our Eftpos integration for New Zealand retailers using our Point of Sale software supports access from the POS software for all NZ banks.


Excellent growth in Tyro broadband EFTPOS take up

October saw another surge in the take up of integrated EFTPOS processing with Tyro Broadband EFTPOS.  The folks at Tyro are amazed by the numbers of our customers switching to their EFPOS offer from a bank terminal.

Selfishly, we like Tyro because it is easier to support.  We can help our customers handle queries and resolve issues faster than if they transact through a bank.  This saves us time and it saves time for our customers.

Using Tyro, thanks to the sweet integration between the terminal and our Point of Sale software, we help retailers reduce keystrokes and every keystroke eliminated is a potential mistake eliminated.  His is more money in the bank for our customers.

Even though November is only a few days old, we expect it to be another good month for bringing people to the benefits of Tyro.


Massive growth in Tyro broadband EFTPOS uptake

We have seen the uptake of Tyro broadband EFTPOS by retailers using our Point of Sale  software increase by  10% over the last 30 days.

Retailers are keen to switch from the big banks and the new EFTPOS fees brought in by ePAL, the EFTPOS regulator which they control along with Coles and Woolworths.

Retailers using our Point of Sale software are able to easily integrate with Tyro from with in our Point of Sale software.  This reduces keystrokes, cuts mistakes, improves customer throughput and creates a better and more profitable sales counter experience.

We use Tyro in our software company and in our own retail businesses.

In addition to being easy and low cost, Tyro is backed by excellent support.  Retailers need this if they are to have queries handled quickly and professionally.


Tyro Commits to Helping Retailers Contain Costs of Eftpos Processing

The folks at Tyro have today demonstrated excellent continuing commitment to helping retailers contain Eftpos processing costs in the face of expected higher costs to come next month from the major banks.

More than 500 of the retailers using our Point of Sale software use Tyro.  They received an excellent communication from their VP of Sales and Marketing for Tyro today. This communication said, in part:

In Brief:

1. Our costs on Commercial and Premium cards have increased. We need to pass this cost on. As of October 1st the cost of only your Premium and Commercial transactions will increase by 0.10% (one tenth of one percent).

2. Tyro continues to fight the ePAL eftpos price increase. So there is NO change to the cost of a domestic eftpos transaction i.e. when your customer presses the Cheque or Savings button.

3. Tyro’s advanced technology has been accredited with the important Payment Card Industry; Payment Application Data Security Standard. When using our technology, you are protected from card data compromise.

4. Tyro continues to invest in service availability and has achieved 100% up time of our acquiring system in FY2010/11.

I’d like to give you an update on Tyro and let you know about some recent developments.

Now in our fourth year of operation, Tyro has grown to serve over 5,000 Australian EFTPOS merchants. While we still only serve a little over 1.5% of the Australian merchant base, we believe that we’ve created a real and competitive alternative to the big banks, through value, service and security. We continue to strongly advocate the case of the often overlooked hard-working merchant. Tyro has been the only voice in the financial services industry fighting the interchange fee increase in the domestic eftpos debit system.

Visa and MasterCard Premium and Commercial Cards

We’ve recently reviewed the interchange and scheme fees of these card types. The mix used in the Australian market has changed, resulting in higher interchange scheme fees charged to Tyro. As a consequence the Merchant Service Fee (MSF) applicable to your merchant facility will increase by 0.10% (excluding GST). This increase only applies to Premium and Commercial Cards, all other cards’ fees and charges remain unchanged.

eftpos Debit Cards

Eftpos Payment Australia Limited (ePAL) announced an increase to the interchange fee of 10 cents for transactions in excess of $15 and 5 cents for transaction of less than $15 as of the 1st October 2011. Tyro has campaigned on your behalf against what we consider to be an untimely and unjustified increase. The banks however, have sided with ePAL to increase the interchange fee.

We continue the fight this increase by standing our ground on our existing interchange pricing agreements. For as long as we can hold this position, we will protect you from the ePAL interchange increase, in effect delivering the same base interchange transaction costs as Coles and Woolworths.

Tyro’s System Availability

We have designed and invested in technology that eliminates service interruptions. This now includes terminal technology that switches over automatically between servers and data centres. I’m happy to report that the result for fiscal year 2010/11 has been 100% availability of our acquiring system.

Having said this, our service is affected by the availability of our suppliers; we have suffered degradations of service through card issuer outages, Medicare system failures, merchants’ firewalls or ISPs failures and an instance of slow terminal printer performance. We are working with our suppliers, partners and merchants to improve their resilience.

Tyro’s Security Architecture

You might have followed recent reports in media about the increase in crime syndicates targeting Australian merchants, who are hacking into retailer’s computer systems and EFTPOS terminals to steal the customer’s confidential card data. I’m pleased to report that Tyro has had no data security incidents.

Tyro is the only independent Australian merchant services provider whose EFTPOS solution has been certified by Payment Card Industry Council (PCI) accredited independent security specialists, as PCI PA-DSS compliant. Whether operating in stand-alone mode or integrated with your POS systems, you can have confidence that your Tyro EFTPOS terminals read and exchange sensitive card holder and transaction data securely. With Tyro, sensitive data is quarantined from your computer, network or other devices.

The last financial year at Tyro has been very exciting. Being a small institution competing directly with the big banks is more challenging than ever. With your ongoing support, I’m confident that we can continue to grow to ensure that there is a real competitive alternative in the Australian EFTPOS business.

We love working with Tyro because it’s easy to setup, easy to support, fast, accurate and good value for our customers.


Tyro Broadband Eftpos Offer Helps retailers save Money

We are thrilled to have an exclusive offer to help retailers using our Point of Sale software to switch to the integrated Tyro Broadband Eftpos solution.  This offer is for Tower Systems retailers only.

By switching to Tyro, retailers have access to terrific business benefits including:

  • Faster Eftpos processing.
  • More accurate Eftpos processing
  • Easier reconciliation.
  • Better customer throughput at the sales counter.
  • Easier problem resolution.

We use Tyro in our own retail businesses and endorse it as the best Eftpos solution available for retailers.

Our latest exclusive offer makes switching to Tyro now, in time for Christmas, valuable beyond the benefits listed above.


Helping Retailers Cut the Cost of Eftpos Processing

We have put together an offer for our retail partners to help them switch to the Tyro broadband Eftpos solution and do so in an economical and time saving way. This offer is exclusive to Tower Systems and expires in a few weeks, giving our retailers plenty of time to be up and running for Christmas. The offer has been communicated directly to our customers.


Why we Prefer Tyro Broadband Eftpos over PC Eftpos

When our retail Point of Sale software customers ask us for our preferred integrated Eftpos solution we say Tyro. Having worked with both organisations and each service, we find, from our personal experience, Tyro  superior on a range of fronts:

  1. Tyro is faster and easier to setup. It takes just a few minutes of our time whereas PC Eftpos can take a few hours depending on the bank being connected with.
  2. Tyro is easier to navigate if there are operational problems. Getting to the right person and achieving ownership of a problem is straightforward. Our experience is that it is quite a different experience with PC Eftpos.
  3. Reconciliation is easier.
  4. Enhancements flow more easily.
  5. Operational problems are more easily investigated and resolved with Tyro than PC Eftpos. This is important in retail – every minute that Eftpos is down at the counter increases the risk of lost sales.

While our Point of Sale software links with multiple payment gateways, Tyro is our recommendation based on experience with over 500 retailers in this specific area of need among our retail user community.


Pressure building on EFTPOS fees

Tyro, our preferred broadband EFTPOS partner and the EFTPOS partner small business and independent retailers love, is fighting hard against the looming EFTPOS fee hike which is being driven by the major Australian banks.  Click here to see the latest Tyro press release on the EFTPOS fee situation.

While some sections of the media are getting all worked up over the carbon tax, others are remaining silent on what is effective a new EFTPOS Tax being imposed by the banks and facilitates by the federal government.

The impact of the higher EFTPOS fees could be more significant on small businesses, especially those which cannot easily pass on or mitigate against the higher costs of doing EFTPOS transactions.  Coles and Woolworths are exempt.  They sit on the board which decided the price rise which is set to cause the EFTPOS fee hike.

With EFTPOS an important method of payment in retail today, retailers have little choice but to offer this service.  This positions them at the mercy of the major banks who control EPAL which sets pricing for services which effects EFTPOS processing fees.

We are supporting the campaign against higher EFTPOS fees in a number of ways including focusing on the topic at this blog and in direct communication with our customers.

Part of our mission here at Tower Systems is to help our retail partners cut the cost of doing business. While our software is terrific at helping retailers do this, we rely on fairness from providers such as the banks and their EFTPOS processing services. Our lobbying on the EFTPOS fee hike issue is central to our mission.  We will gladly go into bat for our customers to help them maintain a fair cost structure.

Tower Systems proudly serves over 2,500 small and independent retailers across Australia.


Tyro Helps Small Business Retailers Combat High EFTPOS Fees

We have been working closely and personally with Tyro CEO Jost Stollmann on the challenge of increased interchange fees which will come into effect in a few months.

The potential impact of these higher fees on small business retailers is considerable as they make all retailers except Coles and Woolworths ten cents per EFTPOS transaction worse off.

In our work on behalf of our retail community we have lobbied politicians (including government ministers), in writing and in person, and brought to public attention the issues.  We will continue with this project, to seek a fair EFTPOS regime not only for our customers but for small business retailers more widely.

While not directly the responsibility of a software company, we are well positioned to engage because we see the volume of EFTPOS traffic and the potential impact of a fee rise on small business retailers.

We feel passionately about the treatment of small business retailers and they way they are treated sometimes by government, regulators and those in authority, such as the board which made the decision to increase EFTPOS fees and banks.

In 2010, banks increased their fees on business by 13% to $6.9 billion. In 2011, banks decided to increase the interchange fee for EFTPOS transactions by 10 cents, except for Coles and Woolworths. Now, small and medium business customers of the big banks are the least satisfied of all business customers.

Why has EFTPOS Payments Australia Limited (EPAL), which represents the banks and big retailers and processes 2 billion transactions per year, announced an increase of the interchange fee? Why raise the cost of EFTPOS transactions by 10 cents for all acquirers and merchants except Woolworths and Coles?

In August 2009, the Reserve bank of Australia refrained from regulatory removal, judging that the banking industry had not yet reached the point where they exerted significant competitive pressure on interchange fees. What is the conclusion now?

Unless they ‘BREAK UP’ – genuinely and not like the NAB and their recent faux break up, banks will lose the chance to act responsibly. A strong EFTPOS system requires investment by acquirers and merchants. It does not need banks to stop paying and start charging by levying a new tax on EFTPOS access. This is an unjust and untimely burden on Australia’s merchants and consumers!

Tyro is a friend to small business … delivering quality broadband based EFTPOS integrated with our Point of Sale software.  We support their campaign and share their commitment to small business retailers in Australia.


Disappointing Labor Spin on EFTPOS Fee Challenge Faced By Retailers

In our work with and on behalf of retailers facing an EFTPOS fee hike thanks to the new fee regime agreed recently by EPAL, we have been collating responses from federal politicians.

These responses indicate that Labor politicians are more likely to pass on the EPAL developed spin response than their Liberal and National Party counterparts.

The new regime sets up small and independent businesses, including retailers, to face EFTPOS fee hikes starting later this year.

The major banks, Coles and Woolworths, all shareholders in EPAL, an organisation established by the reserve Bank a few years ago, have colluded to dud small business.

The engagement of politicians in educating themselves about this issue is crucial. If only all politicians saw it that way.


Fighting the banks on higher EFTPOS fees

We are continuing to lobby federal politicians on the EFTPOS fee changes bring brought in by EPAL, the company owned by the banks plus Coles and Woolworths, later this year.

The changes which are set to come into effect later this year will impact small business retailers, like our customers, considerably.  They look set to provide Coles and Woolworths with a competitive advantage.

So, we are maintaining our email and letter campaign to Senators and Members of the House of Representatives to ensure that they are fully aware of the potential impact on small and independent retailers. We are doing this with the knowledge of how much the changes will affect businesses like those we serve.  It is considerable given the trigger points established b the recent EPAL decision.

We are working closely with Tyro as well as the Australian Newsagents’ Federation on this.

So far, we have responses from six politicians.  The each say they will raise it further within their respective parties.  With others lobbying on this issue too we can only hope that those who can impact on the decision which has been made will act.

This is a big business versus small business fight.  We are squarely in the corner of small business, small and independent retailers in particular.


Retailers Switching to Tyro Over Traditional Bank EFTPOS Solutions

We are continuing to see good migration of retailers using our Point of Sale software to the Tyro Broadband EFTPOS platform which is integrated with our software.

We support this migration as Tyro offers a more cost-effective solution than bank based EFTPOS.  From a technical perspective, it is easier to support, offers fewer mistake opportunities and helps reduce employee fraud.

Outside of the valuable operational benefits, Tyro also offers a more transparent and commercial fee structure than that offered by the major banks.

With many hundreds of our retail partners already using Tyro we have many reference sites of happy retailers pleased to have made the switch to Tyro.


Why we Recommend Retailers NOT Use PC Eftpos

While our software works with PC Eftpos for an integrated EFTPOS solution, we recommend to any retailer who asks that they NOT go with PC Eftpos.  The problem is the banks.  Having to navigate issues with major banks like ANZ, NAB, Commonwealth and Westpac can cost hours.  Their support for PC Eftpos is slow and often less than idea.  Tyro, the broadband EFTPOS solution we do recommend, on the other hand, is a dream to install and questions are answered in minutes.

In one installation recently, we wasted a day dealing with one major bank while they sorted through issues at their end.  Our technical people were pushed from pillar to post by people at the bank who paid little attention to customer service.Thee issue was nothing to do with our software – we were helping a customer who was not tech savvy enough to navigate the bank help desk requirements.

We have never had this type of experience in dealing with Tyro. We and our customers have easy access to an escalation process which sees queries resolved quickly.


Promoting Tyro Broadband Eftpos to Retailers

tyro-eftpos.jpgWe have created new collateral for promoting the Tyro Broadband Eftpos solution to retailers using our Point of Sale software.  This latest collateral, exclusive to Tower Systems, reinforces the the professional approach we take as well as the value we bring to our customers.  Tyro is an excellent solution for retailers, delivering fast Eftpos processing at a lower cost and with fewer mistakes.

Having experience with multiple integrated Eftpos platforms, we rate tyro as the best for implementation, support and transactional operations.  It stands heads and shoulders above other integrated Eftpos solutions in our experience.  It is dramatically better than a stand alone device which requires an extra phone line, keying and a wait for approval.

Our new and exclusive marketing collateral outlines the benefits and highlights the value of the tower Systems / Tyro relationship for our 2,500 retail business customers.

The latest collateral is being used with our March round of customer newsletter as well as other communications with the network of Tower Systems retailers.


New Tyro Broadband Eftpos Offer

tyro-eftpos.jpgWe have finalised exclusive marketing collateral for each of our marketplaces promoting our latest Tyro Broadband Eftpos offer to retailers using our Point of Sale software.

The latest collateral further demonstrates the Tower Systems point of difference in terms of professionalism, depth of offer, value and commitment. There are components to our offer which are exclusive to us.

Our approach to delivering access to the Tyro broadband Eftpos offer is typical Tower Systems: well thought out and focused on tangible value for our retail customers.

The latest offer has been developed in association with the folks at Tyro.

We are providing our new collateral to our customers with our February newsletter.


Tyro Broadband eftpos Powers a More Efficient Christmas

tyro-swivel.JPGThe eftpos numbers for some retailers this Christmas were excellent.  Seeing a store process close to half a million dollars in eftpos sales in just over four weeks and with most of that in the last couple of weeks is good.  For this to be achieved with greater accuracy and with a lower employee cost is the great news of the tyro broadband eftpos solution.

Retailers using our Point of Sale software love the Tyro broadband eftpos solution and the benefits it delivers…

  1. Faster processing of the eftpos transaction.
  2. Fewer mistakes.
  3. Easier end of shift balancing.
  4. Easier account reconciliation.
  5. Easier problem / customer query resolution.

These valuable financial and operational benefits and more make Tyro a popular choice among retailers.  From our perspective, we prefer tyro because setup and support are considerably easier than alternatives like PC Eftpos.


Tyro better than PC-Eftpos for retailers

After a couple of busy years experience in the eftpos space we are certain of our view that Tyro broadband eftpos is better for retailers than PC-Eftpos integration.  We have customers of each platform but now far more using Tyro.  It has really taken off over the last year and a half following our resounding recommendation  Here is why we prefer and recommend Tyro:

  1. Tyro is much easier to install.
  2. Tyro support is considerably better.
  3. Tyro is faster.
  4. Tyro pricing frees retailers from the higher costs of the major banks.

Our recommendation to our customers for an eftpos solution is Tryo every time.  This is reflected in our pricing policy.  Connecting through PC-Eftpos is far more expensive.


Tyro eftpos offer TV coverage

It was good to see TV coverage on Sky last week for the Tyro eftpos offer which we support.  The Peter Switzer interview with Jost Stollman CEO of Tyro covered the value of the Tyro offer for small businesses compared to the Eftpos offer of banks.

Hundreds of our customers use Tyro and save time, cut costs and reduce mistakes.  We use Tyro in our own stores too.


Tyro broadband eftpos now available for jewellers

The Tyro broadband eftpos solution which is integrated with our Point of Sale software is now available for jewellers following a decision by the Board of Tyro last week.  We are the first software company to bring this to the jeweller space.

Using Tyro and Tower Systems Jeweller software, jewellers can expect:

  • More accurate eftpos transactions.
  • Better customer flow at the counter.
  • Cost savings.
  • Enhanced customer experience.
  • Better security.
  • Sales growth opportunities.

Jewellers keen to unlock these benefits should make contact with Tower Systems.  The Tyro integration is part of our Tower Advantage TM offer.


420 newsagents use Tyro

Tyro has advised us that there are 420 newsagents now using Tyro for fast and secure eftpos processing – integrated with point of sale. Tower Systems has 300 newsagents of these 420. Everywhere we go we receive great feedback on Tyro: it’s faster, easier to use and more secure than the older bank terminals.


Tyro broadband EFTPOS sets the benchmark

Retailers using our Point of Sale software integrated with the Tyro broadband EFTPOS solution continue to rave about the financial and operational benefits. Thanks to our smart integration and the facilities of Tyro, these retailers are making more money than if they had stuck with their old backing terminal.

We recently checked in with a group of our customers so see if they are as happy with Tyro today as they were when they first installed more than a year ago. The answer in every case is a resounding YES!.

Here is a list of the key benefits of our Tyro integrated broadband EFTPOS solution:

  • Tyro is fast. Transactions are completed and the docket printed in 4 seconds, often less.
  • Tyro is accurate. There are far fewer keystrokes and therefore fewer mistakes which can cost money.
  • Tyro has lower fees. The fees we have negotiated with Tyro are very competitive.
  • Tyro provides better customer flow. The speed and ease of integration make it easier for you to process credit card and eftpos transactions so traffic flor at the counter is better.

We use Tyro in our own retail businesses. We love it for the reasons noted above. We heartily recommend it to every retailer.


Twenty more Tyro locations

Twenty more of our retail customers signed up with Tyro broadband eftpos last month.  This continues the excellent growth we are seeing in the use of Tyro for eftpos payment among our retail partners.

Our Tyro implementation sees eftpos transactions processed faster, with fewer mistakes and with better customer and retailer documentation.


Special offer on broadband eftpos

We have released details to our user community of a special offer to bring more across to the several hundred who already enjoy the benefits of broadband eftpos thanks to our relatuionship with Tyro.  The new offer is on the table until the end of February this year.

The Tyro link we have developed is fast, safe and secure.  It eliminates keystrokes, mistakes and time – all important factors in retail businesses looking to drive the best possible return.


Tyro broadband eftpos driving good retail business

With hundreds of users of our Point of Sale software now processing eftpos transactions through the Tyro broadband eftpos interface, we are building excellent data on the business benefits.

Tyro is saving our retail users, including our own retail businesses, time and money with a faster and mroe secure solution.  Since our software communicates directly with the EFTPOS terminal, we reduce internal fraud and errors.

Here are the key benefits our customers tell us about:

  • Speed and efficiency (transaction time less than 4 seconds)
  • Lower costs (no phone line, no admin fees, free paper rolls)
  • Low integration set up costs
  • Low merchant service fees negotiated by Tower Systems
  • Reduced internal and shop front fraud
  • Secure, real-time online reporting

The Tower Systems / Tyro integration offers improved efficiency and accuracy – as we are seeing ourselves in our own retail businesses.  Yes, we used this ourselves to prove its worth first.


Tyro broadband eftpos shines at Christmas

Our Tyro broadband eftpos integration is helping hundreds of our retailers process sales faster this Christmas.  Thanks to eliminated keystrokes, faster approvals and single point record keeping, we are helping our retailers process Christmas sales faster and more accurately.

We received a call yesterday from one customer which was simple and to the point: this Tyro is a bloody ripper!  They went on to say that it’s streamlined their counter, saving on wages.  While reducing labour costs is an important benefit, it is the elimination of duplicated processes which I like in my own retail businesses.

We help our customers connect with Tyro through a simple to follow advice sheet, free interface software and over the phone help and training.

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