Comparison · Updated September 18, 2026
Square vs Tyro for Australian businesses
Square
A
Square offers simple, transparent payment processing ideal for small businesses. Flat-rate pricing, no monthly fees, and excellent software make it a top choice — but account holds and limited support are key concerns.
Tyro
B+
Tyro Payments Limited is a Sydney-based merchant acquirer and bank, founded in 2003, granted a specialist credit card institution licence in 2005 and a full Australian banking licence in 2015, and listed on the ASX as TYR since 2019. It serves more than 77,800 Australian merchants, processed $44.3 billion in transaction value in the year to June 2026, and reported gross profit of $231.8 million, EBITDA of $66.9 million and statutory profit before tax of $22.3 million for that year. Its pricing is published and flat: 1.3% including GST on every card transaction for businesses under $20,000 a month, a custom quote above that, and a Pro Touch or Pro Key terminal at $29 a month, a Pro Lite at $19, or a Tap to Pay app on your own phone for nothing — with no lock-in contract, no joining fee and no break fee. New customers transacting more than $20,000 a month who join before 24 November 2026 get 1% until 31 March 2027. Takings settle seven days a week, the same day, into a fee-free Tyro Transaction Account protected by the Financial Claims Scheme, or next business day to an outside bank. Tyro integrates with more than 580 POS and practice-management systems, routes debit through the cheapest network with Tap & Save, and lends up to $400,000 against card takings. The record has one scar: a January 2021 terminal outage that left some merchants unable to take cards for weeks and produced a Federal Court class action that Tyro settled in principle in February 2023 without admitting liability. Nigel Lee became chief executive in January 2026, and Tyro's Australian Trustpilot profile is 4.2 from about 560 reviews, 69% five-star and 20% one-star.
VS
Overview
Square and Tyro are the two names an Australian café, shop or tradie most often weighs for EFTPOS, and they sell opposite deals. Square (an A on Payment Review) charges 1.6% on every in-person card including Amex, has no monthly fee, sells its hardware outright from $65, bundles a free POS app and online store, and pays out next day to any bank. Tyro (a B+) charges 1.3% on Visa, Mastercard and eftpos but rents its Pro terminals at $19 to $29 a month, settles the same day seven days a week into its own bank account, integrates with more than 580 POS and PMS systems, and staffs phones 7am to 9pm every day. On the published rates Tyro's 0.3-point advantage covers a $19 Pro Lite rental at roughly $6,300 of monthly card turnover and a $29 Pro Touch at about $9,700; below that Square is cheaper, above it Tyro is. Tyro also has an introductory 1% rate until 31 March 2027, but only for businesses already transacting more than $20,000 a month.
Key Takeaways
- ✓Tyro's in-person rate is lower: 1.3% including GST on Visa, Mastercard and eftpos, against Square's 1.6% on all card brands — but Tyro's flat rate does not cover Amex, which Square takes at the same 1.6%.
- ✓Square has no monthly cost on its Free plan and sells hardware outright ($65 Reader, $329 Terminal); Tyro rents Pro Series terminals at $19 to $29 a month, with only its Tap to Pay app at $0.
- ✓Tyro settles the same day, seven days a week, but only into a Tyro Transaction Account; Square pays out next day, free, to any Australian bank, weekends included where the bank supports NPP.
- ✓Tyro integrates with more than 580 POS and PMS systems and answers phones 7am–9pm seven days a week; Square's support runs Monday to Friday 9am–5pm AET, and its own POS and online store are free.
- ✓Neither locks you in: both have no contract, no joining fee and no cancellation fee.
Square
Square suits new and smaller Australian businesses — under roughly $6,000 to $10,000 a month in card sales — that want one flat rate with no rental, free POS and online-store software, hardware they own, and payouts into the bank they already use.
Tyro
Tyro suits established venues with an existing POS or practice-management system, higher card turnover where the 1.3% rate outweighs the rental, and owners who want takings in the account the same evening and a support line open every day until 9pm.
The Verdict
It Depends on Your Needs
Why?
It turns on monthly card turnover and whether you already run a POS. Tyro's 1.3% beats Square's 1.6% on every Visa, Mastercard and eftpos transaction, settles the same evening, plugs into more than 580 POS and PMS systems and picks up the phone seven days a week — but it charges $19 to $29 a month for a terminal, does not include Amex in the flat rate, and only settles same-day into its own bank account. Square charges nothing monthly, takes Amex at the same 1.6%, gives you the POS app and online store free, sells you hardware you own, and pays out next day to whichever bank you use. On the published numbers the rental is recovered at about $6,300 a month of card sales with a Pro Lite and about $9,700 with a Pro Touch; a business below that is better off with Square, a busier venue with an existing POS is better off with Tyro. Payment Review grades Square an A and Tyro a B+, the gap coming from Square's broader product and Tyro's thinner support and reputation scores rather than from price.
Feature by feature
Detailed Comparison
Filter Options
Pricing (AUD, Square Australia and Tyro rate cards, September 2026)
| Feature | Square | Tyro |
|---|---|---|
| In-person card rate | 1.6% on all card brands, including Amex | 1.3% incl. GST on Visa, Mastercard and eftpos Winner |
| Square's pricing page does not state GST treatment, but Square says all its Australian fees are GST-inclusive (Seller Agreement s.23b, per its community moderator). The 1.6% applies to sellers who signed up on or after 30 May 2024; earlier sellers pay 1.9% on Reader, Stand and Tap to Pay. Tyro's 1.3% is for businesses transacting under $20,000 a month; above that Tyro quotes a custom rate. Tyro's pricing page does not publish an in-person American Express rate. | ||
| Introductory offer | None | 1% until 31 March 2027 for businesses transacting more than $20,000 a month |
| Tyro's offer is aimed at higher-volume businesses switching to it, not at new small businesses; a café under $20,000 a month pays the standard 1.3%. | ||
| Online and payment links | 2.2% | 1.4% incl. GST via Payment Links (Visa, Mastercard, Amex) Winner |
| Square's 2.2% covers Square Online, Payment Links and its eCommerce API. Tyro's Payment Links do not accept JCB; Tyro also sells an eCommerce checkout whose rate is not on its pricing page. Merchants with their own Amex agreement pay Tyro a 0.1% (excl. GST) switch fee instead of the 1.4%. | ||
| Manually keyed (MOTO) | 2.2% | Not disclosed |
| Tyro offers MOTO subject to approval but does not publish the rate. | ||
| Monthly cost | $0 on the Free plan Winner | $19 (Pro Lite) or $29 (Pro Touch, Pro Key) terminal rental; $0 with the Tap to Pay app |
| Square's optional Plus plan starts from $40 a month and Premium is custom-priced for businesses above $250,000 a year. The rental gap is what decides the pair: at 0.3 percentage points, a $19 rental is recovered at about $6,300 of monthly card turnover and a $29 rental at about $9,700. | ||
| Chargeback fee | $0 | Not disclosed |
| Square's Australian fee page states it does not charge for chargebacks or disputes. Tyro's terms make the merchant liable for the chargeback itself but its pricing page does not list a handling fee. | ||
| Custom pricing threshold | $250,000+ a year in sales | $20,000+ a month in card payments |
In-person card rate
Square
1.6% on all card brands, including Amex
Tyro
1.3% incl. GST on Visa, Mastercard and eftpos
Winner
Square's pricing page does not state GST treatment, but Square says all its Australian fees are GST-inclusive (Seller Agreement s.23b, per its community moderator). The 1.6% applies to sellers who signed up on or after 30 May 2024; earlier sellers pay 1.9% on Reader, Stand and Tap to Pay. Tyro's 1.3% is for businesses transacting under $20,000 a month; above that Tyro quotes a custom rate. Tyro's pricing page does not publish an in-person American Express rate.
Introductory offer
Square
None
Tyro
1% until 31 March 2027 for businesses transacting more than $20,000 a month
Tyro's offer is aimed at higher-volume businesses switching to it, not at new small businesses; a café under $20,000 a month pays the standard 1.3%.
Online and payment links
Square
2.2%
Tyro
1.4% incl. GST via Payment Links (Visa, Mastercard, Amex)
Winner
Square's 2.2% covers Square Online, Payment Links and its eCommerce API. Tyro's Payment Links do not accept JCB; Tyro also sells an eCommerce checkout whose rate is not on its pricing page. Merchants with their own Amex agreement pay Tyro a 0.1% (excl. GST) switch fee instead of the 1.4%.
Manually keyed (MOTO)
Square
2.2%
Tyro
Not disclosed
Tyro offers MOTO subject to approval but does not publish the rate.
Monthly cost
Square
$0 on the Free plan
Winner
Tyro
$19 (Pro Lite) or $29 (Pro Touch, Pro Key) terminal rental; $0 with the Tap to Pay app
Square's optional Plus plan starts from $40 a month and Premium is custom-priced for businesses above $250,000 a year. The rental gap is what decides the pair: at 0.3 percentage points, a $19 rental is recovered at about $6,300 of monthly card turnover and a $29 rental at about $9,700.
Chargeback fee
Square
$0
Tyro
Not disclosed
Square's Australian fee page states it does not charge for chargebacks or disputes. Tyro's terms make the merchant liable for the chargeback itself but its pricing page does not list a handling fee.
Custom pricing threshold
Square
$250,000+ a year in sales
Tyro
$20,000+ a month in card payments
Best For Your Business
Recommendations based on your business type
New café or market stall under $6,000 a month in card sales
Recommended
Square
At this volume Tyro's 0.3-point rate advantage is worth less than $18 a month, less than the cheapest Pro Lite rental, and Square's free POS app, $65 Reader and next-day payouts to your existing bank cover everything a small operator needs.
Restaurant or bar with an existing POS and $20,000+ a month through the terminal
Recommended
Tyro
Tyro integrates with most hospitality POS systems, offers Pay@Table and split bills through the integration, settles the night's takings the same evening, and at this volume the 1.3% rate (or the 1% introductory rate until March 2027) saves far more than the $29 rental.
Retailer that wants to sell online as well as in store
Recommended
Square
Square includes a free online store with inventory shared with its POS; Tyro offers payment links and an eCommerce checkout but no store builder, so you would run a separate platform alongside it.
Allied-health or veterinary practice on a practice-management system
Recommended
Tyro
Tyro's integrations reach practice-management systems as well as retail POS, its terminals are built for integrated workflows, and same-day settlement into a Tyro account with Financial Claims Scheme cover suits a practice that banks its takings daily.
Business that takes a lot of American Express
Recommended
Square
Square charges Amex at the same 1.6% as every other card in person. Tyro's 1.3% flat rate covers Visa, Mastercard and eftpos only, and its in-person Amex rate is not published.
Owner who needs a support line outside office hours
Recommended
Tyro
Tyro staffs phones 7am to 9pm seven days a week with a 24/7 emergency option; Square's Australian phone and chat support runs Monday to Friday 9am to 5pm AET.
Square: Best for 3 use cases
Tyro: Best for 3 use cases
Frequently Asked Questions
Common questions about this comparison
It depends on turnover. Tyro's in-person rate is 1.3% including GST against Square's 1.6%, but Tyro rents its terminals at $19 to $29 a month while Square has no monthly fee. The 0.3-point difference covers a $19 Pro Lite at roughly $6,300 of monthly card sales and a $29 Pro Touch at roughly $9,700. Below those figures Square costs less overall; above them Tyro does. Tyro's 1% introductory rate until 31 March 2027 applies only to businesses already transacting more than $20,000 a month.
No. Both have no lock-in contract, no joining fee and no cancellation or break fee. Tyro's terminals are rented month to month; Square's are bought outright or on a monthly instalment plan.
Tyro settles the same day, seven days a week, into a Tyro Transaction Account, at a settlement time you choose between 8pm and 5am Sydney time. Moving money from there to another bank takes the next business day and up to three business days depending on the bank. Square transfers to your own bank the next day at no cost, including weekends and public holidays where your bank supports NPP, and offers instant transfers 24/7 for a 1.5% fee up to $5,000 a day.
Tyro publishes integrations with more than 580 POS and practice-management systems, which is its main selling point: it is an acquirer that plugs into software you already run rather than a POS in its own right. Square is the reverse — its POS app is free and its hardware is built around it, with Xero and QuickBooks syncs and an app marketplace for the rest.
Not in person. Tyro's 1.3% applies to Visa, Mastercard and eftpos; its pricing page does not publish an in-person Amex rate, and merchants with their own Amex agreement pay a 0.1% switch fee on top of Amex's charges. Its Payment Links take Amex at 1.4%. Square charges Amex at the same 1.6% in person and 2.2% online as every other card.
Tyro on hours: general support is 7am to 9pm seven days a week Sydney time on 1300 008 976, with an emergency option for critical issues around the clock. Square Australia's phone and live-chat support runs Monday to Friday 9am to 5pm AET on 1800 760 137. Payment Review scores Square's support 1.0 out of 5 and Tyro's 3.5, and Tyro's Trustpilot score (4.2) is above Square's (3.7), though a fifth of Tyro's reviews are one star.
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