[iOS] First $15,000 of Sales Fee-Free (Ongoing Fee 1.4%) with Tap to Pay on iPhone & Tyro BYO App (New Customer Only) @ Telstra

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b3au on 25/05/2023 - 10:18 telstra.com.au (176 clicks)
Last edited 25/05/2023 - 12:28 by 1 other user

Saw this advertised on Facebook, looks like a decent deal for anyone with an iPhone looking to accept contactless payments without buying or carrying around a separate reader. (if you need to accept inserting chip cards, you'll still need to purchase a reader)

Accepts American Express, eftpos, Mastercard and Visa, with a flat 1.4% fee after your first $15,000 in sales.

T&Cs

After expressing interest in Tyro Payments (Tyro) from Telstra, a client manager from Tyro will contact you about their products and provide you with further information. This $15,000 fee-free transactions per customer offer is available to Telstra referred customers who acquire an eligible Tyro EFTPOS facility with a future transactions fee of 1.4% (incl GST) (Fee) (subject to change and any additional fees as set out in the Tyro Application Form and Terms & Conditions). Tyro BYO requires an iPhone XS or newer with iOS 16.4 or later installed, the Tyro BYO App to be installed, and mobile network coverage.

This offer applies to new Tyro customers only but does not apply to eCommerce transactions. Fee exclusions: (1) Diners Club card transactions and (2) MOTO fees. Tyro is the issuer of its own financial products. Telstra receives a financial benefit or a referral fee if you acquire a product from Tyro. Full terms and conditions available at Telstra.com.au/tyro. Tyro Payments Limited ACN 103 575 042 AFSL 471951.

Related Stores

Telstra

Tyro

• 

  IXXI on 25/05/2023 - 10:35

  +3

  Could be a good QFF hack? Sign up to this and pay $15k from your QFF credit card to your own bank account, then pay off card? Free points.

  • 

    ilubbargains on 25/05/2023 - 10:36

    love a good inception

  • 

    flud on 25/05/2023 - 11:26

    Would this really work?

  • 

    T-man on 25/05/2023 - 11:29

    Then pay tax on $15,000 income or explain that to ATO

    • 

      IXXI on 25/05/2023 - 11:30

      Do you pay tax when you transfer money between your own bank accounts? Dont see how this is any different.

      • 

        mjkwon74 on 25/05/2023 - 11:47

        +2

        If you pay $15k using your QFF credit card, your ABN has $15k income. Tyro will send card transaction data to ATO. ATO will use data matching program to identify the total credit and debit card payments received by Australian businesses. So, your income report must include this $15K to calcuate your income tax.

        • 

          IXXI on 25/05/2023 - 11:50

          @mjkwon74: Ok, so you need this linked to an ABN? I didnt realise that, thought you could just tie the Tyro app to any nominated bank account. That would make a differrence.

          • 

            mjkwon74 on 25/05/2023 - 11:55

            @IXXI: This offer applies to new Tyro customers only:
            Tyro is card merchant provider. So, their customers are business customer.

    • 

      AssociatedONEMariachi @ Telstra on 25/05/2023 - 11:34

      Records are what matter in the end. would also only really need to be like $3k, which most credit cards are.

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  coxymla on 25/05/2023 - 11:48

  How long do you have to turnover the $15K in payments?
  I am associated with a club that would find it nice not to have to pay such transaction fees, but it could take years to process $15K in dues.

  • 

    b3au on 25/05/2023 - 11:51

    I can't see a timeframe or deadline for the Telstra/Tyro offer (as opposed to the 30 day limit for the Westpac offer https://www.ozbargain.com.au/node/775182)

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  mjkwon74 on 25/05/2023 - 11:53

  I used Tyro before. Tyro increased their rate even if their merchant system had shut down for long term. Their rate is higher than major bank. So, I left them. Westpac 1.2% inc GST. Tyro 1.4% exc GST.

  • 

    b3au on 25/05/2023 - 11:54

    Tyro BYO is 1.4% inc GST, as per the T&Cs above - the same fee as Westpac for Tap to Pay on iPhone.

    Tyro BYO's 1.4% includes American Express, which Westpac's 1.4% does not.

    • 

      mjkwon74 on 25/05/2023 - 11:57

      That's good. One of reasons why I left Tyro is that their rate is always exclusive GST. So, their fee actually higher than bank. Also, their EFTPOS machine rental fee is higher than bank.

      • 

        b3au on 25/05/2023 - 11:58

        One of the great things about Tap to Pay on iPhone is you've already got the EFTPOS machine in your pocket :-)

        • 

          mjkwon74 on 25/05/2023 - 12:13

          @b3au: Unfortunately, there are still many customers who need to insert or swipe card. so we need seperate EFTPOS machine.