Australia's Tyro Payments slides as govt plans to reduce card surchages

Tyro Payments

15/10/2024 03:48

** Shares of payment solutions firm Tyro Payments  TYR.AX 
fall as much as 15.5% to A$0.765, their lowest since early-June
    ** Stock set for its worst day since May 2023, if losses
hold
    ** Australia is planning to reduce bank card surcharges,
including the elimination of transaction fees on debit cards
    ** Co says it has been actively engaged with the central
bank and welcomes reviews that assess the true cost of card
acceptance for small businesses and consumers
    ** Tyro stock top loser on the ASX All Ordinaries index
 .AORD 
    ** As of last close, stock was down 18.1% YTD

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))