The move comes as customers increasingly switch to cashless transactions amid Covid-19 crisis.
The tool, called Tyl, will allow small businesses to accept Chip & PIN, contactless and telephony payments. The system also enables customer payments over the phone or online using a mobile terminal.
Additionally, Tyl provides next-day settlement ensuring cash flow for the businesses amid the pandemic.
In a bid to support the SMEs during the crisis, Tyl has also waived off terminal and 3G fees until the end of this year.
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