Tyl by NatWest understands the need for innovative, flexible payment solutions that allow merchants of all sizes to accept card payments. In response to widespread consumer adoption of contactless payment, merchants, particularly SMEs and mobile-first businesses, looked for low-cost ways to accept tap-to-pay payments. Traditional payment terminals require upfront hardware costs and ongoing maintenance expenses that put them beyond many smaller businesses’ budgets.
Additionally, traditional payment terminals have limited mobility, which is a barrier to using them for payments in dynamic environments like outdoor events, pop-up shops, or on-the-go services. Tyl saw the opportunity to help merchants meet consumer demands for mobile wallet and contactless cards acceptance and to empower merchants to process those transactions everywhere consumers want to pay, inside or outside the store.
Committed to providing simple, secure, and accessible payment acceptance systems, Tyl searched for options that met these challenges and found the solution with Ingenico SofPOS.
What Is Ingenico SoftPOS?
Ingenico's SoftPOS is a software-based payment technology, allowing merchants to accept contactless and tap-to-pay payments on the mobile devices they already own. Merchants can use compatible Android and iOS devices, like tablets, smartphones, and handheld computers, to securely accept payments, eliminating the investment in dedicated payment hardware. SoftPOS is easy to implement: Merchants download the application, contact Tyl, and quickly begin accepting payments.
For Tyl, SoftPOS offers hardware-free merchant account setup, cost-efficiency, and scalability. This approach to payments significantly reduces operational and logistical costs, especially when onboarding micro-merchants and SMEs. Tyl also gained the ability to offer valuable solutions to merchants, allowing them to accept payments anywhere from the store to a market stall or on the delivery route. As PCI DSS-compliant contactless technology, SoftPOS offers convenience without compromising on security or consumer trust.
Thanks to this collaboration and truly innovative technology, Tyl’s SoftPOS rollout was a success. Tyl’s team recognized the solution’s potential early and responded positively to the new addition to the portfolio. As one of the first payment service providers to adopt SoftPOS across Android and iOS platforms, Tyl gained the advantage of adding flexibility, simplicity, and strategic value to its merchant offering.
SoftPOS’s Impact on Tyl’s Business
Since adopting SoftPOS in mid-2023, Tyl has seen an increase in merchant acquisition and engagement across sectors. In January 2024 alone, Tyl onboarded 600+ merchants, about a 55% month-over-month uplift compared to December 2023, even though January is typically a quiet month in the payments industry. Tyl also saw value right from the outset of SoftPOS implementation, with a significant increase in transaction volume.
Furthermore, SoftPOS’s accessibility and deployment ease have enabled Tyl to reach new merchant segments that were previously underserved by traditional payment solutions. With SoftPOS, Tyl has lowered the barrier to entry of digital payments for small businesses and mobile operators. Overall, Tyl reports a stronger value proposition in the market, expanded reach, and a positive contribution from SoftPOS to its growth strategy.
Now, in addition to its payment terminal systems, online gateway services, payment links, and virtual terminal products, Tyl offers SoftPOS, thanks to its partnership with Ingenico and shared commitment to delivering leading-edge payment solutions to the market.
Follow this link to learn more about Ingenico SoftPOS and contact us to take the first step toward a partnership that will benefit your business.
