Tyro Payments Welcomes RBA Decision to End Card Surcharging from October, Shares Up 3%

MT Newswires Live03-31

Tyro Payments (ASX:TYR) said it welcomes the declaration from the Reserve Bank of Australia (RBA), outlining the conclusions from its Review of Merchant Card Payment Costs and Surcharging, according to a Tuesday Australian bourse filing.

The RBA has confirmed that surcharging on debit, prepaid, and credit cards will end on October 1, 2026, applying to EFTPOS, Mastercard, and Visa cards, as part of a set of targeted reforms following its review of merchant card payment costs and surcharging, the filing added.

The RBA also confirmed it will lower the maximum interchange fee that businesses can be required to pay for consumer credit card and debit card payments.

Tyro said that the measures do not impact its near-term financial guidance and medium-term targets, and are consistent with its expectations, representing a positive shift that will lower costs and improve transparency.

The company's shares rose 3% in recent Tuesday trade.

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