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Australia’s two million small businesses to use Siri for the first time to pay bills

February 20, 2017 Financial No Comments Email Email

In an Australian first, business banking is now as easy as “Hey Siri” with the latest customer release from SME mobile banking challenger, Tyro.

Using Apple’s smartphone assistant, Siri, Tyro Smart Account customers can access their daily settlements from their Tyro EFTPOS terminals, which can be used to pay bills and business costs immediately by asking something like, “Hey Siri, pay $250 to water bill using Tyro”.

Currently, no other transaction account in Australian allows Siri to make payments.

Tyro CEO Gerd Schenkel said the technological breakthrough would allow owners to spend less time on paperwork and more time on growing their businesses.

“Using Siri to pay bills is the way of the future for Australia’s two million businesses, who employ seven million Australians and are the bedrock of the national economy,” Tyro CEO Gerd Schenkel said.

“With nearly eight million iPhone users in Australia, this is a win for time-starved merchants.

“Small and medium sized business owners are always on the go. Using Siri gives them the freedom to pay bills and other overheads wherever they are, in only a few seconds and with minimal key strokes.”

A recent Tyro report[1] found that banking red tape is robbing almost one million Australian businesses of four weeks’ productive work time a year, costing the national economy almost $7 billion annually.

This equates to an extra 20 working days a year for each business – or the entire annual holidays of the average employee.

The report found that 44 per cent of Australian SMEs, or 880,000 businesses, spend more than three hours every week checking, entering, paying and reconciling data, costing each business an average of $7,800 a year.

The Tyro Smart Account seeks to solve that problem by providing a fee-free, interest-bearing account in your pocket, accessible via the Tyro smartphone app, available on iOS and Android.

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