As per the agreement, the firm will supply point-of-sale card terminals and e-commerce acquiring services to their network of 10,000 businesses around the UK. Businesses will be supported primarily in London, Manchester, Birmingham, and Liverpool then expand to Scotland, Wales, and other parts of the UK.
Rajshankar Balasingham, CEO of Arivpay commented: “Truevo is a perfect match for Arivpay. We’ve been looking for a new POS solution for merchants in the UK which also provides e-commerce acquiring, and Truevo is it. Truevo sells the newest generation of terminals. Both merchant onboarding and settlement are quick.
“We’ll be one of the first large providers to offer Truevo’s service in the UK. This gives us a huge advantage over businesses which only provide payments products from traditional market players.”
Arivpay supports brick and mortar businesses with payment solutions, particularly specialising in convenience stores, restaurants and pubs. The firm detailed ambitions differentiating from competitors with card machines which represent the latest technology in point-of-sale systems.
Balasingham added: “Truevo’s fees are clear. They don’t use merchants’ lack of knowledge to make their margins, and neither do we. We didn’t want a partner with confusing fees that we would need to pass on to our customers. We’ve seen enough situations where merchants pay more than what they expect to pay, and we’re glad alongside Truevo to offer a straightforward statement that any customer can read and understand easily.”
Jon Barras, Truevo UK & ROI General Manager added: “Arivpay needed a partner which would grow with them as they build their online customer base. We’re delighted to provide them with a best in class POS solution for their established base of stores and restaurants while also supporting their newer demand for online payments. We share Arivpay’s mission of taking the burden off of small businesses and finding the best payment solution.”
Both Truevo and Arivpay have ambitions to launch their point-of-sale solution beyond the UK into Europe. Arivpay is poised to be a key partner in Truevo’s new country launches.
Expert Analysis: This collaboration couldn’t come at a more pivotal time as the UK retail sector continues to navigate through the pandemic as efficiently as possible. The sector can reap the benefits of this partnership throughout the Christmas period, which is predominantly one of its busiest.