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Square vs Tyro: Comparing Merchant Fees in Australia

Choosing between Square and Tyro is one of the more common decisions facing Australian businesses that accept card payments. Both are well established, but they approach pricing and hardware in quite different ways. Square leans into simple, predictable flat-rate pricing and quick self-setup, while Tyro positions itself as an Australian EFTPOS specialist built around bank-grade terminals and deeper point-of-sale integrations.

This page offers a general, independent comparison to help you understand how each provider is structured and which type of business each tends to suit. MerchantRates is not affiliated with Square or Tyro. Rather than declaring a single winner, we outline the typical strengths and trade-offs of each so you can weigh them against your own transaction volume, industry and the way you actually take payments day to day.

Square
Small, new or lower-volume businesses, sole traders and mobile or pop-up sellers who want to start taking payments quickly without long contracts.

Strengths

  • Simple, transparent flat-rate pricing that is easy to forecast and understand
  • Fast, largely self-service onboarding with no lock-in contracts
  • An all-in-one ecosystem spanning hardware, software, invoicing and online tools

Consider

  • A single flat rate can become less cost-effective as transaction volumes grow
  • Less tailored to specialised industry point-of-sale or practice-management setups
Square generally follows a flat-rate model, where a consistent percentage applies across card transactions, which appeals to businesses that value simplicity and predictability over negotiated rates.
Tyro
Established and higher-volume businesses in sectors like hospitality, health and retail that want EFTPOS terminals integrated with their existing systems.

Strengths

  • Australian EFTPOS specialist with bank-grade terminals and fast settlement
  • Deep integrations with POS and practice-management software, including HICAPS in health
  • Support for least-cost routing to help manage the cost of contactless payments

Consider

  • Often better suited to established businesses than brand-new or very small operators
  • Pricing is frequently custom or negotiated, so it can be harder to compare at a glance
Tyro's pricing is often custom or negotiable and tends to reflect a more traditional, bank-style EFTPOS arrangement rather than a single published flat rate.

Our take

As a general guide, businesses that are newer, smaller or value simplicity often lean towards Square's flat-rate, low-commitment model, while established or higher-volume operators that rely on integrated point-of-sale or practice-management systems may find Tyro's specialised EFTPOS approach a closer fit. Transaction volume is frequently the deciding factor: flat-rate pricing is easy to manage at modest volumes, whereas negotiated rates and least-cost routing can become more attractive as turnover rises. Neither option is universally better. The right choice depends on your industry, the systems you already use, your settlement needs and how much you value predictability versus a tailored arrangement.

The independent option

MerchantRates is an independent comparison option, not a reseller for either provider. Rather than steering you toward one brand, we help you weigh Square, Tyro and other Australian payment providers side by side on the factors that matter to your business, including pricing models, terminals, integrations and settlement. Because we are not affiliated with these providers, our aim is to give you a clearer, balanced view so you can approach each company directly with the right questions. Both Square and Tyro are strong choices for the right business; our role is simply to help you compare them fairly.

The information on this page is general and indicative only and is correct to the best of our knowledge at the time of writing. MerchantRates is not affiliated with Square or Tyro. Pricing models, features and terms can change, and we do not state exact current prices as definitive fact or guarantee any savings. Readers should check each provider directly for current pricing and confirm details before making a decision.
Common questions
Square vs Tyro, answered
Is Square or Tyro cheaper for my business?
It depends on your transaction volume and how you take payments. Square's flat-rate model is easy to predict and often suits lower volumes, while Tyro's negotiated EFTPOS pricing and least-cost routing may appeal to higher-volume businesses. We cannot guarantee savings, so it is best to compare current quotes from each provider against your own figures.
What is the main difference between Square and Tyro?
In general terms, Square offers simple flat-rate pricing with quick, self-service setup and an all-in-one ecosystem, while Tyro is an Australian EFTPOS specialist focused on bank-grade terminals, fast settlement and deeper point-of-sale and practice-management integrations. The core difference is flat-rate simplicity versus a more negotiated, integrated EFTPOS approach.
Which provider is better for a new or small business?
Newer and smaller businesses often gravitate towards Square because of its simple flat-rate pricing, fast onboarding and lack of lock-in contracts. Tyro tends to suit more established operations with higher volumes or specific integration needs. That said, the right fit depends on your industry and how you plan to take payments, so it is worth comparing both.
Does Tyro support least-cost routing and integrations?
Yes. Tyro generally supports least-cost routing, which can help manage the cost of contactless payments, and offers integrations with a range of point-of-sale and practice-management systems across hospitality, health and retail. The exact features and availability can change, so confirm the current details directly with Tyro for your particular setup.
Is MerchantRates affiliated with Square or Tyro?
No. MerchantRates is an independent comparison site and is not affiliated with Square, Tyro or any provider featured. Our goal is to present general, balanced information so you can compare options fairly. We do not set or guarantee any provider's pricing, so you should always check current rates and terms directly with each provider.
Related reading
Zeller vs Square →Tyro alternatives →The 2026 surcharge ban explained →Savings calculator →All comparisons →

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