Tymit, Modulr partner for real-time payments

Tuesday 10 November 2020 14:01 CET | News

Mobile-enabled instalment credit card Tymit has partnered with fintech Modulr to bring real-time payments to Tymit cardholders, according to the official press release

Without dealing with a revolving balance, Tymit users avoid unnecessary interest and charges, while purchase simulation and upfront fee breakdowns enable smarter spending. This is made possible through Modulr’s payments infrastructure, and underpinned by the fintech’s direct access to the Bank of England. For most credit cardholders, making repayments to their account is a pain point. Legacy systems - upon which traditional credit card providers typically run - introduce significant delays to the process, meaning payments can take days to clear on their balance. 

Modulr’s API-first platform enables Tymit to roll out real-time payments (via the Faster Payments scheme) to all its customers. This provides them with the transparency and control they need during these challenging times. 

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Keywords: Tymit, Modulr, real-time payments, fintech, partnership, credit card, instalment, payments infrastructure, revolving balance, Bank of England, API, Faster Payments
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech