Trilo scraps transaction fees, with merchants able to reward customers whenever they pay
London, UK: On January 22nd, Trilo (Trilo Group Ltd.) powered the first ever Point of Sale (POS) payment using Open Banking at Naama Studios. The customer simply had to scan a QR code in order to make a £170 payment. In return for using Trilo, the customer also had a 1% donation made to the UK-based charity, Forward Trust, on their behalf. With this landmark payment, merchants across the UK can now offer their customers the chance to pay directly from their bank account by simply scanning a QR code.
Trilo brings Open Banking to the wider retail market, enabling both online and POS payments through one network. Trilo has removed transaction fees entirely, replacing them with a scalable subscription based on the number of monthly active customers. Unlocking revenue otherwise held in card fees enables merchants to now further invest in their business and their customers.
Trilo focuses on consumers, enabling ubiquitous mobile based payments with no app needed, while consumers earn a reward, the Boost, every time. With the Trilo Boost, Trilo empowers merchants to reward their customers every time they pay. This helps convert consumers away from cards, and gives merchants the ability to improve their customers’ experience which increases sales and retention.
At the heart of Trilo’s values is its ambition to help fix the environment. One of the Boost options offered to merchants and consumers is the possibility to plant a tree for every transaction made. To do this, Trilo has partnered with Eden Projects to reforest the planet, one tree at a time. Trilo also plants a tree for each new merchant that joins the network.
“It’s so significant and exciting to power the first ever POS Open Banking payment with Trilo, something previously thought not possible! With this we’re one step closer to helping every merchant and consumer leave cards and card fees behind, and even better giving consumers a Boost whenever they shop.” says Hamish Blythe, Founder & CEO at Trilo. “Bringing Trilo to life is amazing, and seeing customers and merchants use Trilo,
leaving cards behind is incredible. In light of the recent movements by Mastercard to increase their transaction fees, the timing couldn’t be more important to help businesses big and small move to Trilo.”
“Working Trilo will improve our business payment processing and present new opportunities to connect with our customers, while rewarding them. The partnership is a natural fit for us given our commitment to using innovative technology throughout all elements of our business, be that to offer our tattoo removal service, or process payments.” says Jared, Founding Director at Naama Studios.
Features and benefits of Trilo include:
● No more card fees: Trilo has scrapped transaction fees, instead operating a simple subscription of 20p per active monthly customer.
● Customer rewards: Customers get a reward (the Trilo Boost) whenever they shop, such as money off, goods, a tree or a charitable donation.
● Environment first: Merchants do not need any plastic or hardware to accept Trilo, while being able to plant a tree whenever a customer pays. A tree will also be planted for every new merchant who joins Trilo.
● Unlimited payments: Consumers can spend as much as they would like as often as they like. The merchant will never be charged a penny more to get paid and receive their money within minutes.
● Simple setup: Merchants can begin taking Trilo payments in minutes by either logging in on their tablet or phone, or by connecting to the Trilo API. No hardware or software is needed.
● Increasing sales and customer retention: Merchants reward their customers with the Boost, a rewards platform integrated into the core of Trilo. The Boost enhances the customer experience leading to increased sales and customer retention, with virtually no extra work for the merchant.
● Contact-free: The customer simply scans a QR to pay. No more handing over a card or cash. This enables Socially Distanced payments, with the customer standing well back from the payments terminal.
Trilo is available across the UK today, enabling both online and offline businesses to move away from cards and their associated fees and reward their customers in the process. Working with SMEs and some large retailers to begin with, Trilo will continue rolling out across the UK in 2021, before expanding its sights to Europe in 2022. For more information, please visit https://www.trilo.io or email hamish@trilo.io.
About Trilo:
Trilo is the simplest way to pay. Customers get a Boost every time they shop and merchants never have to pay any transaction fees again. Trilo uses Open Banking to power the network, and is authorised by the FCA. Trilo processed the first-ever POS/in-person Open Banking payment.
Source: Trilo
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