Business
Tyro CEO ‘will need to rebuild trust’ after outage – The Australian Financial Review
Tyro says it may incur $15 million in compensation costs to merchants whose payments terminals went out in January, but churn and new applications are at normal…
Tyro said it may face a remediation cost around $15 million and it is understood the company is exploring the potential of using its own insurance coverage to meet the claims. It has already incurred costs of $3 million, including collecting the bricked terminals from merchants for the required software update.
Tyro shares surged 11 per cent to $3.03 in late afternoon trading on Monday, still 8 per cent below the level when the problem struck on the night of January 5, triggering a major incident…
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