Tyl by NatWest launches the PAX card terminal

Thursday 6 October 2022 10:09 CET | News

Tyl by NatWest has launched PAX, a new product in their card terminal portfolio, to help lessen the financial pressure for micro businesses.


A pocket-sized terminal, PAX is a card machine designed to meet smaller businesses, market traders, tradesman on the move needs, and is also a cost-effective solution for larger businesses.

Almost 88% (nine in ten) small business owners have reported concern on how the cost-of-living crisis will impact customers’ decision on shopping locally with micro businesses, as per research carried out by Tyl by NatWest. Thus, a growing concern is revealed among business owners on how revenue and their survival will be impacted. 

With price needing to be hugely taken into consideration, small and micro business owners demand flexible, transparent pricing models that are priced fairly. Tyl by NatWest introduced a new pricing scheme aimed at helping micro businesses, having a revenue lower than GBP 50,000. The pricing will save merchants 0.15% in fees on every transaction they process, as it has been reduced from 1.65% to 1.50%. Being the cheapest stand-alone card machine in the market, the pocket-sized terminal allows business owners to save money in a market that is price sensitive.

Having been developed with the financial pressures small businesses face in mind, the machine is designed to provide merchants with reduced costs to ease the strain on their finances. The device can be connected at no extra cost via WiFi, Bluetooth, and 4G, enabling PAX users the option of using all services offered by Tyl by NatWest, such as business insights and rewards.

Company representatives have stated that the reduction in price makes PAX the cheapest stand-alone card machine in the payments micro space when the card is absent, for example in online or over the phone payments, and one of the cheapest overall face-to-face transactions. Business owners can use advanced business analytics for insights to track customer spending, and they are also able to utilise rewards to increase customer loyalty, features enabled by the terminal’s design aimed at helping businesses grow while still being able to benefit from Tyl by NatWest’s features offering. 

Tyl by NatWest has launched PAX, a new product in their card terminal potfolio, to help lessen the financial pressure for micro businesses.

Tyl by NatWest: how it works and who it serves

Tyl is a payment partner for UK-based small and medium-sized businesses, offering payment solutions for card payments carried out in-store, over the phone, or online, backed by one of the UK’s biggest banks.

Tyl enables businesses to receive payments in a fast and secure manner wherever they and their customers are, offering straightforward customer onboarding, simple pricing, and settlement in one business day. Merchants can make informed business decisions and improve their customer relationships, as Tyl offers access to data-led insights and is available for all banked and non-banked customers. 

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Keywords: product launch, payments , payment methods, ecommerce, SMEs
Categories: Payments & Commerce
Companies: Tyl by NatWest
Countries: United Kingdom
This article is part of category

Payments & Commerce

Tyl by NatWest

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