Australian bank integrates Alipay

Reinforcing the strategy to accept all payment types in response to merchant needs. Tyro, Australia’s business-only bank, today announced it had entered an agreement with the world’s largest mobile and online payment platform, Alipay, to become the first Australian bank to offer a seamless, all-in-one EFTPOS solution with Alipay for Tyro’s merchants and to improve Australian businesses transactions. 

Tyro is currently working with several merchants to determine appropriate pilot sites for launch by the end of 2018. Tyro will offer Alipay to its other eligible 20,000+ businesses from second quarter 2019.

The Alipay integration continues Tyro’s strategy of enabling its merchants to accept all payment types, letting their customers choose the way they want to pay.

Alongside Australia and New Zealand, Alipay now partners with over 10,000 businesses. Tyro will be the first Australian bank offering all-in-one EFTPOS with integrated Alipay acceptance with its merchants.

In the year ending February 2018, almost 1.4 million Chinese tourists visited Australia, injecting AU$10.4 billion into the economy in 2017. This is predicted to rise to AU$13 billion by 2020.

Data from Nielsen has indicated that 65% of Chinese tourists use mobile payment platforms during their overseas travels, six times more than non-Chinese tourists (11%).

Tyro is further diversifying its offering and responding to merchant needs by introducing initiatives that attract more revenue to benefit their business. The Alipay integration is part of a wider scope from Tyro to offer alternative payments, as part of its existing award-winning EFTPOS and banking-specific products.

An Australian bank completely dedicated to business banking, Tyro is at the forefront of banking and payment innovation and strongly supports its customers by designing innovative products and a better experience, so they can succeed.

About Tyro
Tyro is an Australian Bank and operates under the supervision of the Australian Prudential Regulation Authority (APRA). Tyro currently serves more than 20,000 businesses with its own in-house, cloud-based mobile core banking platform. http://www.tyro.com/ 

SHARE THIS ARTICLE

FURTHER READING

MST Marquee – The impact of migration on retail

Retail businesses setting budgets and forecasting are understandably finding it difficult to navigate the uncertain economic conditions. Our research can help educate retailers about industry profitability benchmarks, wage growth and inventory levels, so that businesses can better prepare for the future.

Now more than ever

If business, and retail especially, must reflect the zeitgeist in order to remain relevant, then in this unique inflection point in history, the rights of Indigenous people must be incorporated

Retail Voice CEO Message: 8 May 2024

Achieving a unified voice for retail has been a compelling focus for our industry for many years. It is in the spirit of this endeavour that we are delighted to

Retail Voice CEO Message: 1 May 2024

Yesterday, the Australian Bureau of Statistics released retail trade data for March, with a modest increase of just 0.8% compared to the same month last year, despite being bolstered by