As part of a commitment to help businesses and communities thrive, Tyl by NatWest has partnered with Pennies, the UK's leading fintech charity working to protect and grow micro-donations.
The partnership grants a proportion of profit to charities, meaning that Tyl customers can benefit causes offering support to UK communities by choosing to adopt Tyl as their payment partner.
The first three charities to benefit from this initiative have been Macmillan Cancer Support, The Prince’s Trust and Hospice UK who have received grants worth more than £10,000 each, enabling them to make a greater difference for their beneficiaries in this incredibly challenging year.
The impact of these grants for each charity has been significant. Macmillan’s donations are used to deliver vital services to people living with cancer, and these grants will help Macmillan continue to provide the vital emotional, financial or clinical support that cancer patients rely on. The grants will enable the Prince’s Trust to continue supporting young people across the UK to gain the confidence and skills they need to live, learn and earn. For Hospice UK, the funds received help the charity’s 209 hospice members support 225,000 people a year, providing 72,000 families and carers with bereavement support, as well as supporting the charity’s COVID-19 response this year.
Tyl is also donating a small proportion of profit to Pennies, to help the charity develop the digital micro-donation movement in the UK. Micro-donations are an increasingly important source of funding for charities as the UK shifts towards a cash-free future, and Pennies works to encourage and enable more opportunities to micro-donate as part of everyday life.
At a time where customer loyalty for business is key due to increasing cost pressures, greater price sensitivity amongst consumers and a potentially reduced consumer experience due to Covid-19 protection measures, providing businesses with the opportunity to support charitable causes - working in local communities across the UK - can be a useful tool in helping to create lasting relationships with their customers and to drive repeat custom.
Tyl is also planning a wider programme of charitable initiatives, known collectively as ‘Give Back’, which will offer support for good causes operating in local communities across the country.
Mike Elliff, CEO, Tyl said: “Empowering small businesses to support local communities is a core aspect of our purpose at Tyl. Through our partnership with Pennies, we are proud to contribute to grants for Macmillan Cancer Support, The Prince’s Trust and Hospice UK, who each deliver vital support to communities across the UK. Being able to provide this funding in-part through our platform is a great example of the added value that the fintech and payments sectors can bring to society. We hope to continue to play a key role in helping to protect income for charitable causes as the country rebuilds for the future.”
Alison Hutchinson CBE, CEO, Pennies said: “Pennies is delighted to partner with Tyl on their innovative Give Back initiative. It has never been more important for businesses to have true social purpose, and Tyl have shown inspiring commitment to charities and local communities by building this into their model from day one. We are pleased to have helped Tyl by granting over £30,000 to three fantastic charities so far and are grateful to Tyl for their support for Pennies’ own charitable purpose: growing more income for UK charities with micro-donations. We look forward to working with Tyl on future elements of Give Back to make an even greater impact.”
Tyl by NatWest is a new, innovative payments service designed in partnership with UK SMEs to make it easier for small business customers across the country to receive payments in-store, online and over the phone. Tyl offers next-day settlement for users, helping businesses to manage cash flow during covid-19 and beyond.
Support for all payment methods
Whilst the consumer and business trend towards contactless and card payments continues, NatWest continues to support its personal and business customers with cash requirements, as supporters of UK Finance’s Access to Cash Initiative. The bank has become the first in the UK to offer fee-free secure cash home delivery to vulnerable customers, as well as keeping over 95% of the branch network open throughout the pandemic and backing ATM operator LINK’s 12-month pledge to maintain free-to-use ATMs.