The Federation of Small Businesses (FSB) has inked a new payments partnership with NatWest Group.
FSB members will have access to a range of simple, reliable and cost-effective payment solutions from Tyl by NatWest.
For the smallest businesses, Tyl offers a simple fee structure based on one low rate for personal card transactions (where the card is issued in the UK or Europe) and one for all other transactions. For bigger businesses, Tyl has a range of different fees to fit the needs of the business.
“FSB and NatWest share an ambition to provide strong support for the growth of entrepreneurship and small businesses in the UK, and we are excited and proud to partner with FSB in payments services for its members,” James Holian, head of business banking at NatWest commented.
Mike Elliff, chief executive, Tyl by NatWest, added: “Small businesses are critical for our economy and our communities. At a time where the cost of trading is rising for small business owners, Tyl by NatWest is delighted to be able to partner with FSB to provide its members with a full range of cost-effective and reliable payment solutions, backed by great service.”
In addition to the possible business savings, Tyl by NatWest could help FSB members with the day to day running of their business through features including:
- Choice of card machines or a phone app for in-person sales
- Take payments online or over the phone
- Payment links and QR codes to send out so you get paid quickly
- Simple bills and next business day settlement
- Tyl Portal for access to constantly updated sales data
- 7 day a week UK-based service and support line
The official partnership builds on the support the NatWest Group has given to FSB over the years. In 2020, NatWest Group established the SME Taskforce with FSB to help SMEs to respond to and navigate the aftermath of the Covid-19 pandemic.
Last year NatWest announced a £1 million partnership with FSB to provide NatWest business customers with access to independent support and education to help with the cost-of-living crisis via webinars, and 1-2-1 phone support and webchat.
NatWest said FSB members will see cost savings and other benefits by signing up with Tyl, subject to eligibility criteria as part of the partnership. Insight from Tyl by NatWest found that 8 out of 10 businesses could save on fees when switching from an existing card payment provider to Tyl by NatWest.
“I’m delighted to form this partnership with Tyl by NatWest. We have a long-standing history of working with NatWest on various business initiatives and look forward to this next step in our relationship,” Caroline Lavelle, FSB chief commercial officer, said.
“As many of our members, and the wider UK small business community, continue to navigate the increasing cost of trading, an opportunity to make savings on payments, which is core to every business, will be well-received.”
Available now, FSB members could be up and running with Tyl in just 48 hours.
