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Ulster Bank launches platform to help firms take non-cash payments

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Tyl is a merchant acquiring and payments solution

Tyl is a merchant acquiring and payments solution

Tyl is a merchant acquiring and payments solution

Ulster Bank has launched a new platform to help firms here move towards non-cash payments.

Tyl is a merchant acquiring and payments solution that has been developed to enable customers to take card payments anytime and anywhere.

Ulster Bank also says it is waiving terminal rental fees for the remainder of 2020.

"Customers receive a terminal to take payments in person as well as access to a platform for processing transactions over the phone, through a website, or via a payment link," the bank says

"The service offers help during a period when many businesses are adapting to telephone orders and delivery in reaction to the Covid-19 prevention measures. It also helps keep customers and staff safe through payment with minimal contact.

Mark Crimmins, head of Ulster Bank in NI, said: “We know the challenges many SMEs are contending with at present around adapting how they conduct their business and how they manage their cashflow.

"Tyl provides a means for firms to move quickly to non-cash transactions as well as to ensure they receive cash from their transactions faster. Digital innovations like this are one way that we are working hard to support our customers now and into the future.”

Tyl has been piloted with a small number of Ulster Bank customers in Northern Ireland and is now available to all customers.