RBS rolls out SME payment tool in Scotland

Thursday 2 July 2020 11:47 CET | News

Royal Bank of Scotland (RBS) has launched a new payment tool for SMEs in Scotland to encourage digital transactions.

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.

Besides streamlining transactions, the payment tool supports business growth by providing the SMEs with smart data-led insights.


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Keywords: RBS, SMEs, payments , Scotland, cash flow
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech