Why the Tyro Payments (ASX:TYR) share price is on the move today

The Tyro Payments Ltd (ASX: TYR) share price is under pressure today after announcing an EFTPOS terminal outage to the market.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Tyro Payments Ltd (ASX: TYR) share price jumped 3.4% higher in early trade but has since lost most of its early gains and is currently sitting 0.93% up at $3.26 per share.

A hand moves a building block from green arrow to red, indicating negative interest rates

Image source: Getty Images

What's moving the Tyro Payments share price today?

The Aussie payments company provided an update on an outage affecting a number of its EFTPOS terminals.

Tyro said it is experiencing a "connectivity issue" related to a "limited number" of terminals. The issue has been presented since 7pm on Tuesday as Tyro works with its supplier, Worldline, to find a resolution.

Tyro is looking to mitigate the impact on its merchants arising from the outage affecting ~15% of active terminals. Tyro said the issue has caused a ~5% reduction in expected transaction value since Tuesday.

The total impact will only be able to be quantified by the company once the issue is resolved.

The Tyro Payments share price has retraced its gains following this morning's surge and is trending lower this afternoon.

Shares in the Aussie payments group are down 1.8% in the last 12 months. Tyro recently accepted a 2-year court-enforceable undertaking to remedy breaches of the Spam Act 2003.

The Aussie fintech was found to have illegally sent more than 150,000 spam email and text messages in the last two years. The messages in questions failed to include an unsubscribe function as required under the Act.

The Tyro Payments share price plummeted in the March bear market to as low as 97 cents per share. The EFTPOS payment solutions provider currently has a market capitalisation of $1.7 billion at the time of writing.

Foolish takeaway

The Tyro Payments share price rocketed higher in early trade but is backtracking in early afternoon. The EFTPOS terminal outage the company announced is still being investigated, with Tyro to assess the full extent of the damage once the issue is resolved.

Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Tyro Payments. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Worker on a laptop at an oil and gas pipeline.
Share Market News

What would a gas tax mean for ASX energy stocks?

Here's what investors need to know.

Read more »

Smiling man with phone in wheelchair watching stocks and trends on computer
Share Market News

5 things to watch on the ASX 200 on Tuesday

It looks set to be a good day for Aussie investors today.

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today.
Broker Notes

Forget CBA shares, Bell Potter says this ASX financial stock could deliver a 75% return

The broker sees potential for major upside and a generous return from this stock.

Read more »

A neon sign says 'Top Ten'.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors had a rough start to the week.

Read more »

Man holding out Australian dollar notes, symbolising dividends.
Share Market News

Charter Hall Retail REIT reveals March 2026 distribution details

Charter Hall Retail REIT has announced a 6.35 cent unfranked quarterly distribution for the March 2026 period.

Read more »

Lion roaring in the wild, symbolising a rising Liontown share price.
Broker Notes

Up 117% in a year, should you still buy Liontown shares now?

A leading analyst delivers his verdict on the soaring Liontown share price.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Growth Shares

2 ASX shares that I rate as buys today for both growth and dividends!

Here’s why these stocks could make great buys today.

Read more »

Middle age caucasian man smiling confident drinking coffee at home.
Broker Notes

Buy, hold, sell: Bapcor, Challenger, and DroneShield shares

Analysts have given their verdict on these shares this week. Are they bullish, bearish, or something in between?

Read more »