Simplifying open banking payments, Trilo has powered its Point of Sale (POS) payment using the tech at Naama Studios.
In order to boost customer efficiency, the firm is enabling consumers to engage in the payment process by scanning a QR code, which allows them to make a £170 payment.
Hamish Blythe, Founder and CEO at Trilo, commented: “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.
“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.”
In return for using Trilo, the customer also has a 1% donation made to the UK-based charity, Forward Trust, on their behalf. With this 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 is seeking to bring 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.
“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,” added Jared, Founding Director at Naama Studios.