Tyro Payments (ASX:TYR) entered an agreement with Odoo, a business management software, to provide Odoo's payment technology to its customers and small businesses, according to a Tuesday statement by Odoo.

Tyro's suite of in-store electronic funds transfer at point of sale technology is compatible with Odoo's point of sale module, which offers an affordable and flexible payment option that easily integrates with their current point of sale setup, Odoo said.

Tyro Payments' shares fell nearly 5% in recent Tuesday trade.