Tyro close to restoring EFTPOS connections | Ralph-Lauren

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Payments provider Tyro aims to have reconnected all its customers’ EFTPOS terminals by the end of the week, after a long-running outage left many unable to process payments.

Tyro on Tuesday said 85 per cent of customers had all their terminals working, while the remainder had either one terminal working or none.

On January 5, a glitch arose in the software supplied by the manufacturer of the terminals, Wordline.

This caused difficulty for transactions from that date and later, affecting many of the company’s 30,000 customers.

Tyro has not disclosed how many customers or terminals were affected, but last week said 70 per cent were unaffected.

Terminals were collected from more than 60 locations across Australia, so that the software could be updated, then returned to customers.

The saga has not greatly affected the value of payments processed through the company.

The value of transactions for the first 17 days of January was up six per cent on the same period last year to $1.05 billion.

Class action lawyers Bannister Law said it is investigating claims from businesses that have been unable to accept payments.

The lawyers said they were also considering shareholder claims. The company share price fell more than 13 per cent last week.

Tyro said it has not received notice of any legal action.

Shares surged by 25.86 per cent to $2.92 at 1522 AEDT.

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