PayPal Australia has signed a partnership with Tyro Payments, a merchant credit, debit and EFTPOS acquiring company that allows small and medium sized businesses (SMEs) in Australia to accept mobile payments in-store from PayPal users.
As part of the deal, Tyro Payments will launch a new payment solution called Tyro Mobile that enables SMEs to meet consumer demand for mobile payment facilities via the PayPal Australia consumer app.
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With Tyro Mobile, merchants will soon be able to accept mobile payments from other digital wallets, like Samsung Pay.
Tyro CEO, Jost Stollmann said that the partnership will enable over 500,000 SMEs to accept mobile payments in-store from up to 5.5 million active Australian PayPal users.
"Australians increasingly want to pay for purchases quickly and conveniently and this partnership means those with the PayPal app can now use their smart phones to do so in a second," he added.
PayPal Australia director of SMB Emma Hunt said that the partnership with Tyro Mobile allow the company to expand their offering to Australian businesses of all sizes.
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By GlobalData"We’ve seen widespread acceptance of our consumer app amongst our more than 5.5 million active Australian users and are excited that Tyro Mobile’s merchants can now connect with our customers by facilitating PayPal payments in-store," Hunt added.
