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NatWest launches merchant acquiring business

NatWest launches merchant acquiring business

British bank NatWest is launching a merchant acquiring service for SMEs, taking on Worldpay, the business that parent RBS was forced by the government to sell off nearly a decade ago.

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 of a decade ago.

Advent International and Bain Capital paid about £2 billion for the business in 2010 - a deal that has since proved good value as the payments sector has boomed over the last few years.

Comments: (2)

Nicolas Saubié
Nicolas Saubié - NEOSURF CARDS - Paris 04 May, 2019, 17:27Be the first to give this comment the thumbs up 0 likes Good luck! What about APM (Alternative Payment Methods)?
Martin Loat
Martin Loat - Purple Pot Ltd - London 07 May, 2019, 14:09Be the first to give this comment the thumbs up 0 likes

As an SME I'd be keen to talk to Alison and NatWest about this.