(2 May 2019 – United Kingdom) NatWest is launching Tyl, a merchant acquiring service for SMEs.
NatWest Tyl will help firms accept card payments online and in-store, promising straightforward customer on-boarding, simple pricing and next working day settlement, as well as smart data-led insights.
Already live with a small number of clients, Tyl will be made available to all merchant acquiring customers later in the year.
Alison Rose, CEO, commercial and private banking, NatWest, says: “Developing our own merchant acquiring and payments proposition is an important step forward and reiterates our commitment to harnessing the revolution in new technologies so that our customers can remain focused on growing their businesses.”
The new venture sees NatWest parent RBS take on, among others, Worldpay. RBS was forced by EU regulators to sell off Worldpay as a condition for receiving a government bailout during the financial crisis a decade ago.