Trilo, the UK-based payments startup, has announced it has partnered with open banking infrastructure provider Yapily, to help businesses smoothen customer experience and supercharge their growth, by providing the simplest way to pay.
Businesses and merchants are losing out on revenue they rightfully own due to extortionate card interchange and transaction fees – Visa, Mastercard and PayPal have all announced a rise in interchange fees this year. They’re at risk of losing customers if they don’t provide smooth checkout services. At a time when payments need to be simple so businesses can recover from the economic crisis, eliminating any inefficiencies that add complexity when it comes to payments is critical.
Trilo and Yapily have partnered to solve this payments problem by bringing the benefits of open banking to the wider retail market, enabling both online and point of sale payments through Trilo’s single payment platform.
Harnessing Yapily’s open banking infrastructure, Trilo empowers businesses to move away from cards and their fees, unlocking hidden revenue which would otherwise be eaten up in paying those fees. While Trilo is giving merchants more visibility on their customers, creating a data-rich ecosystem for merchants to connect more with their merchants. Freeing this cash and unlocking more insights enables them to reinvest in and enhance their product offerings, thereby increasing customer retention. Trilo further improves overall conversion rates for merchants by offering the smoothest checkout experience possible for all involved, all powered by Open Banking fuelled by Yapily.
Hamish Blythe, founder of Trilo said, “We’re building a new ecosystem, leaving cards behind for good, and giving consumers and merchants the simplest, most beautiful experience possible. With Yapily’s extensive connection to banks, we have the ability to focus on what we do best – giving our customers a stellar experience.
“Yapily’s connectivity and reach across Europe is also supporting our ambitious expansion plans. We’re currently based in the UK, but we’re planning to expand our services overseas in the next year, and with Yapily, we’re one step closer to achieving this goal.”
Stefano Vaccino, CEO of Yapily said, “Trilo is a great example of a platform making a positive impact on helping businesses bounce back from an extremely difficult year. Its mission to eliminate cards, and unnecessary transaction fees, aligns perfectly with our goal to enable fintechs with fairer, faster and more secure payments. We’re excited about Trilo’s venture and we’re looking forward to it growing from strength to strength.”
