The Tyro Payments annual general meeting on October 17 heard that revenue grew at 26 per cent on the back of a continued growth in merchant acquisitions.Representatives from online securities trading platform PrimaryMarkets attended the Tyro Payments Limited annual general meeting on October 17. Since February 2016, PrimaryMarkets has traded almost A$16 million worth of shares in Tyro, a public unlisted company. Some highlights from the Tyro AGM, as reported by PrimaryMarkets in a note to investors, were:  â€¢    revenue grew at 26 per cent on the back of a continued growth in merchant acquisitions. Revenue has also been growing at a compound annual rate of 34 per cent since 2012, such that it now serves 18,329 merchants (an 18 per cent year-on-year increase), representing a total transaction volume of $10.6 billion for the 2016/17 financial year (23 per cent increase yoy over FY16);•    continued market share growth, as the cash economy continues to decline and card payments increased by six per cent in 2017, Tyro's transaction volumes have grown at a faster rate (23 per cent) than the total market;•    increased product marketing through a structured increase in marketing spend, which started in March 2017, "is bearing fruit in Q1 FY18" PrimaryMarkets reports, citing a rise in registrations representing a 70 per cent increase year-on-year from FY17 and saying it expects a delayed impact of FY17's marketing spend to deliver results throughout FY18;•    Tyro's customer Net Promotor Score of +53 (the Big Four domestic banks have NPS in the range of -3 to -15, respectively);  â€¢    the $15 million trading loss reported was in line with internal management forecasts, and $7 million of that loss was attributable to increased admin and staff costs with the remaining approximately $8 million due to non-cash items (mainly depreciation);•    new products launched in FY17 included Tyro's Smart Account, a fee-free business bank account (there were 329 net new accounts added in FY17 and a total lending balance of $3.9 million) and Smart Growth Funding, a fast, flexible and unsecured business loan product (161 new loans and A$11.1 million in loan originations during FY17);•    value added services, with Tyro investing heavily in building the capabilities of its VAS Hub to link applications with POS systems, and claiming it's now integrated with 200-plus POS, retail management and accounting systems (including AfterPay and Xero); and•    strong Balance Sheet - Tyro maintains a strong capital position with $98 million in cash and investments and a total regulatory capital of $110 million, representing a total capital ratio (a percentage of risk-weighted assets) of 179 per cent.  Since March 2017, more than $3 million worth of Tyro shares have been traded at an offer price of $1.25 per share. With around 425 million shares on issue, this gives Tyro a market capitalisation of about A$530 million.