• Surcharging on debit, prepaid and credit cards will end on 1 October 2026
• Lowering the maximum interchange fee for businesses
• Introducing a cap on interchange fees for foreign-issued card payments

Tyro Payments Limited ('Tyro') welcomes the announcement from the Reserve Bank of Australia (RBA), outlining the conclusions from its Review of Merchant Card Payment Costs and Surcharging. The measures are consistent with Tyro's expectations and represent a positive shift that will lower costs, improve transparency and create opportunities that Tyro's business model is well positioned for. The RBA has confirmed a set of targeted reforms, including the removal of surcharging on debit, prepaid and credit cards from 1 October 2026, lowering the maximum interchange fee that businesses can be required to pay for consumer credit cards and debit card payments, and introducing a cap on interchange fees for foreign-issued card payments. The RBA has also outlined an implementation pathway, with the removal of surcharging and reductions in the interchange caps for domestic card transactions to come into effect on 1 October 2026, and the introduction of an interchange cap on foreign-issued cards and requirements for large acquirers, eftpos, Visa and Mastercard to publish the fees they charge to come into effect on 1 April 2027. Tyro CEO, Nigel Lee, stated that the reforms will create an environment that plays to Tyro's unique strengths, as the company's business model has always focused on building vertical-specific solutions with clear pricing and economics.

Tyro is well positioned, both technologically and commercially, to support existing and new merchants through the transition and to capture the opportunities that emerge as the market evolves.