Banks to exit acquiring says Tyro’s new boss as he takes on new COO

Warwick Ponder
Editor
11 Feb, 2026
“I think that we'll see the quiet movement of banks exiting the end state merchant touch points,” says Tyro CEO Nigel Lee as he doubles down on backend services and hires a new COO to drive scale.
Banks to exit acquiring says Tyro’s new boss as he takes on new COO

“I think that we'll see the quiet movement of banks exiting the end state merchant touch points,” says Tyro CEO Nigel Lee as he doubles down on backend services and hires a new COO to drive scale.

Subscriber article

This article is available to PayDay News subscribers.

trending

Yoti has added ConnectID to its age assurance platform, while PayDay News understands Epic Games also offers the service through Kids Web Services in a separate, unannounced move
Online contact accounted for two-thirds of scam reports involving financial loss among people with disabilities in 2025, prompting warnings from Commonwealth Bank and Vision Australia.
Coles’ quiet move to acquire Paydock brings payment orchestration technology into its retail payments business, with ACCC clearance carrying no special conditions and the platform already serving major
On The Interchange Bench this week, Novatti founder exits board, Cuscal summit puts financial crime and AI on agenda, Kuhlmann takes Westpac transaction banking role, Humm chair and
For the eight months to August 2026, Australians stopped using credit cards, paid down what they owed, and took out more cash. Surcharging ended on 1 October but

RELATED STORIES ▸

Consumers dump credit cards, but will the surcharge “ban” drive a reversal?
Consumers dump credit cards, but will the surcharge “ban” drive a reversal?
Consumers dump credit cards, but will the surcharge “ban” drive a reversal?
For the eight months to August 2026, Australians stopped using credit cards, paid down what they owed, and took out ...
Convenience stores, fuel, hotels and pubs collectively bargain on billions in card payments
Convenience stores, fuel, hotels and pubs collectively bargain on billions in card payments
Convenience stores, fuel, hotels and pubs collectively bargain on billions in card payments
As many Payment Service Providers fail to pass on RBA interchange cuts in full, convenience and fuel outlets have gone ...
Tyro loses CFO as fee war adds to market pressure
Tyro loses CFO as fee war adds to market pressure
Tyro loses CFO as fee war adds to market pressure
CFO Emma Burke’s departure removes a former interim chief executive as Tyro confronts cheaper bank offers, the surcharge ban and ...
Late eftpos cuts online fees while hiking prop rates at POS
Late eftpos cuts online fees while hiking prop rates at POS
Late eftpos cuts online fees while hiking prop rates at POS
Australian Payments Plus (AP+) has slashed online eftpos interchange by up to 70%, but small proprietary debit purchases rise 40% ...
Woolies and CBA turn on grocery rewards for 9M customers
Woolies and CBA turn on grocery rewards for 9M customers
Woolies and CBA turn on grocery rewards for 9M customers
The same day surcharging was “banned” and credit card rewards shrank across Australia, Woolworths’ and Commonwealth Bank went live with ...
Revolut ramps up challenge to Big 4 across the Tasman
Revolut ramps up challenge to Big 4 across the Tasman
Revolut ramps up challenge to Big 4 across the Tasman
Revolut has quietly appointed former ANZ and Bendigo executive Ryan Brosnahan as its first New Zealand chief executive, strengthening its ...

Got a story to share?

Get in touch with PayDay News today!

Advertising Enquiry

Fill out the form below, and we will be in touch shortly.

Contact Information

Got a story to share

Fill out the form below, and we will be in touch shortly.

Contact Information