Peter Haig co-founded Tyro Payments with Andrew Rothwell and Paul Wood. The company was incorporated on 3 February 2003 as MoneySwitch Ltd.
Tyro built a new EFTPOS network, the first new entrant in Australia since 1996. By 2012 it processed more than A$3.5 billion in card payments. In 2015 it became an authorised deposit-taking institution, the first Australian technology company to get a bank licence.
Tyro listed on the ASX on 6 December 2019 at A$2.75, the top of its A$2.50 to A$2.75 range.
In September 2022 Potentia made an unsolicited bid, and Westpac also approached. The board rejected a later offer of A$1.60 a share, about A$875 million. Potentia withdrew in May 2023. Tyro posted revenue of A$487.3 million in the 2025 financial year and in December 2025 agreed to buy Thriday.