RBS partners with global technology players to establish an international payments business
RBS today announces that it has joined forces with Mastercard, Motive Partners and EFM Asset Management to invest in a business – named Pollinate - that will look to transform the global merchant services market.
31 October 2019
Pollinate will work with banks around the world to deploy a world-class acquiring platform, offering a merchant-friendly experience which includes payments, business management, marketing connectivity with consumers and charitable giving.
This partnership brings together a unique combination of technology know-how, reach and distribution capability. Supported by a team of industry experts across payments, Financial Services and consumer industries, Pollinate will represent a significant player in the international payments space.
Pollinate has been working in partnership with RBS to develop Tyl by NatWest, an innovative merchant acquiring proposition for SMEs, launched in May and now available to our SME customers in England and Wales. Alongside straightforward customer on-boarding, simple pricing and next day settlement, Tyl will provide smart data-led insights to help customers make informed business decisions. Pollinate is developing an innovative cloud-based technology platform, that powers merchant and consumer digital experiences, and is now in advanced discussions with other leading retail banks around the world.
Commenting on the announcement Alison Rose, Deputy CEO of NatWest Holdings and CEO of Commercial & Private Banking at RBS said:
“I am hugely excited to announce the creation of a global merchant services company with Mastercard, Motive Partners and EFM Asset Management. Partnering with such high-quality companies, each of us bringing unique expertise and skills, allows for a truly international offering, benefitting not only our customers but the wider merchant acquiring space. We are committed to continually improving the products and experiences that we deliver to our customers, and the creation of Pollinate represents an innovative and successful approach of working with partners to do this.”