Tyro (ASX:TYR) could face legal action for catastrophic outage

A law firm is investigating the potential of suing Tyro Payments Ltd (ASX: TYR) on behalf of its customers and shareholders.

The fintech is currently dealing with a technical outage that’s seen many of its small business customers unable to process credit and debit card payments.

The disruption is now into its 9th day, with some desperate clients defecting to alternative payment terminal suppliers like Commonwealth Bank of Australia (ASX: CBA) or Square Inc (NYSE: SQ). 

Legal firm Bannister Law on Wednesday announced it has started an investigation into potential claims that businesses can make for any losses suffered.

“Some businesses have been left with the woefully inadequate situation of accepting cash payments only,…