Tyro and Square come at card payments from opposite ends. Tyro is an Australian EFTPOS specialist that connects to the POS you already run. Square is an all in one provider with its own software. Both publish one flat in person rate, so the comparison is no longer about who will tell you their price. It is about the fixed costs around the rate, and about whether you want to keep your current setup or simplify onto one system.
Pricing and rates compared
In person, Tyro charges 1.3% and Square charges 1.6%. Both are flat rates that cover the major card schemes, so there is no card mix to work out and no quote to chase.
The rates are close, so the fixed costs around them usually decide it. Tyro rents you a terminal for From $19/mo, charged every month you keep it. Square has no monthly fee at all and sells its reader outright for $65. That makes Square's cost front loaded and Tyro's ongoing, which is why the two swap places depending on volume. Put your real monthly card volume into the calculator above and it will work both out for you.
One thing the table cannot show you: Tyro states that merchants processing more than $20,000 a month can ask for a custom rate rather than paying the published one. If that is you, treat the published figure as a ceiling and ask for a quote before deciding.
Online, Tyro charges Custom quote and Square charges 2.2%. Tyro's online rate carries a small fixed fee per transaction where Square's does not, so the gap between them narrows on small orders and widens on large ones.
Who each one is built for
Tyro is built for established hospitality and retail venues that already run a dedicated POS and do not want to change it. It integrates with hundreds of Australian POS systems so the terminal and till stay in sync, which matters when you are processing a high volume of orders at pace.
Square is built for businesses that value simplicity: one rate, one app, and a full POS, online store and invoicing in the box. It is the faster path for a newer or smaller business, or one happy to run on Square's own software.
Contracts and upfront costs
Neither locks you in. Tyro publishes no joining fee and no break fee, and Square charges no monthly fee on its in person plan. The real difference is the hardware: Tyro's terminal is a rental you keep paying for, Square's reader is a one off purchase. A venue that trades for years pays Tyro's rental many times over, while a business that stops trading after a season has spent less with Tyro than with Square.
Australian support and settlement
Both are Australian focused with local support and next business day settlement, and Tyro offers same day settlement as well. Tyro is an ASX listed Australian payments business with a long hospitality and retail track record, and Square is a global operator with a large Australian presence. Either will settle reliably to an Australian bank account.
Switching and getting started
Square is the faster start: order a reader, set up the account, and trade the same day. Tyro involves POS integration, so allow a little more lead time, but for a venue keeping its existing POS the payoff is a setup that fits the way it already works. With no lock-in on either, keep your old terminal active for a short overlap before you retire it.
Integration and support
Square scores well on ease and its all in one ecosystem; Tyro scores well on POS integration depth and its specialist hospitality and retail focus. Square refunds chargebacks for free, while Tyro's chargeback fee is set as part of your agreement rather than published.
Pros and cons for this matchup
Tyro wins on POS integration, its Australian specialist support, same day settlement, and the option to negotiate below its published rate at volume, but its terminal is an ongoing rental and its chargeback fee is not published. Square wins on no monthly fee, free chargebacks, hardware you own outright and an all in one ecosystem, but it asks you to run on Square's own POS and its online rate has no negotiated path.
The verdict
Choose Tyro if you run an established venue on a POS you want to keep, and especially if your volume is high enough to ask for a rate below the published one. Choose Square if you would rather own your hardware, pay nothing monthly, and run everything on one system. Both rates are in the table above, so put your own volume through the calculator before you decide.