- Tyro Payments (TYR) says the number of EFTPOS machines connected to its network has returned to normal levels after an outage left many of its terminals in the dark
- A software malfunction caused outages for retailers using Tyro Payments (TYR) to power EFTPOS machines back in early January, meaning up to 30 per cent of Tyro clients were unable to make transactions
- The company was quick to locate the issue, but a physical recall of terminals has been needed to make the fix
- Although this is Tyro’s final update on the outage, a limited number of Tyro customers are still experiencing issues
- 486 customers currently don’t have an operational EFTPOS terminal, and another 1490 are partially impacted by the outage
- Tyro continues to collect the impacted machines and is working to bring all units back online
- Shares in Tyro are up 1.8 per cent to $2.55
Tyro Payments (TYR) says the number of EFTPOS machines connected to its network has returned to normal levels after an outage left many of its terminals in the dark.
Three weeks ago, the company began to experience terminal outages and Tyro’s leadership pushed the ticker into a trading halt.
These outages eventually affected 30 per cent of retailers and merchants using Tyro-connected terminals.
Earlier this month, Tyro told investors it had pinpointed the root of the issue — a software malfunction which lead to the outage. Since then, Tyro has been working with affected merchants to collect and restore terminals and bring retailers back online.
“The turnaround time, from terminal collection to return, ranges between two and four days with this timeframe being location dependent,” it said.
On Wednesday, the major financial stock released its final update on the issue, maintaining it had come full circle since the blackout.
However, roughly 486 Tyro customers still don’t have a working EFTPOS terminal. Another 1490 are also partially affected, with at least one of their machines flagged for recovery and repair.
It comes as Tyro customers take to the company’s Facebook page to complain about the delays in receiving new terminals and getting old ones collected.
Source: Tyro Payments (Facebook)
The company also used the Thursday media release to update shareholders on its performance throughout the issue.
In the year to date, transactions made via Tyro machines have totalled $13.78 billion — an increase of nine per cent on the same period in FY20.
Now back to trading after the halt, shares in Tyro are up 1.8 per cent to $2.55 at 11:27 am AEDT.