A former agent of Tyro Payments, Kounta Pty Ltd, has agreed to withdraw legal action against Tyro and pay substantial damages. Kounta was appealing a court ruling that it breached its obligations to Tyro, including a non-solicitation agreement. Kounta is the Australian subsidiary of Canadian company Lightspeed Commerce, which offers products and services similar to Tyro’s.  Tyro claimed Kounta was offering a competing Lightspeed product to Tyro merchants. It won a case in the Supreme Court of New South Wales in November. On Friday, Tyro announced that the parties have agreed to settle on the basis that: Kounta’s appeal be dismissed; judgment be entered in favour of Tyro in the proceedings; and Kounta pay Tyro A$10 million in damages. Kounta has also agreed not to contact an agreed list of merchants before September this year. In its original claim, Tyro said: “Tyro has become aware that Kounta is marketing to Tyro merchants and encouraging them to adopt Lightspeed Payments as their payments solution. “Tyro considers that this conduct by Kounta directly breaches Kounta’s obligations to Tyro, including its contractual obligations as Tyro’s agent.”