Customers receive a terminal to take payments in person as well as access to a platform for processing transactions over the phone, through a website, or via a payment link.
The service offers help during a period when many businesses are adapting to telephone orders and delivery in reaction to the COVID-19 prevention measures. It also helps keep customers and staff safe through payment with minimal contact.
In addition, Tyl also assists with cashflow by offering next business day settlement, meaning businesses receive cash from their transactions in less than 24 hours.
To support customers in the current environment, Ulster Bank is waiving terminal rental fees for Tyl until the end of 2020, and is also offering free use of its 3G network for Tyl card machines until the end of the year.
Mark Crimmins, Head of Ulster Bank in NI, said: “We know the challenges many SMEs are contending with at present around adapting how they conduct their business and how they manage their cashflow. Tyl provides a means for firms to move quickly to non-cash transactions as well as to ensure they receive cash from their transactions faster. Digital innovations like this are one way that we are working hard to support our customers now and into the future.”
Tyl has been piloted with a small number of Ulster Bank customers in Northern Ireland and is now available to all customers. It represents the latest digital innovation that the bank is able to deploy for the benefit of customers here due to being part of NatWest.
Advertisement
