CIBC, Pollinate to launch Tyl by CIBC in Canada

Tyl is a cloud-based digital-first platform for small and medium-sized businesses (SMBs), that reportedly enables safe and secure payments acceptance, provides easy point-of-sale technology, and helps users administer loyalty programmes. The platform also offers integration into CIBC business banking services.

Under the partnership, CIBC is making a strategic financial investment in Pollinate, joining Insight Partners, NatWest, National Australia Bank, Mastercard, Fiserv, and EFM Asset Management with an ownership stake in the company and its growing business. CIBC’s partnership with Pollinate will give Canada-based businesses access to the Tyl platform, which is being used in other global markets as well, and is generating a positive response from owners by helping them run and grow their business.

Tyl by CIBC will allow entrepreneurs to enroll, allowing them to receive payments in-person and online, and providing transaction information and insights through a central hub. It is expected to roll out to entrepreneurs later in 2021.