Tyl by NatWest announced on Thursday it has launched a new loyalty app, “Tyl Rewards.” According to Tyl, the app was designed to encourage consumers to continue supporting local businesses, by rewarding regulars as lockdown starts to lift in the UK.
“Recent Tyl research found that around a third of UK consumers (30%) feel that the pandemic pushed them to buy from local independent businesses more often whilst a further half (47%) state that they think they could do more to support local in future. To help sustain and incentivise consumer support for local businesses, Tyl Rewards offers businesses who are Tyl customers the ability to set up a reward programme in a matter of minutes, giving consumers the chance to earn points to redeem against rewards for simply supporting their local businesses.”
To use the app, business owners log into the Tyl portal and decide the rewards they wish to offer customers to thank them for their loyalty, along with setting the total points consumers need to earn before they can receive their reward. The points system is kept simple with customers earning 10 Reward points for every £1 spent with participating businesses. For consumers, Tyl Rewards offers a “hassle-free alternative” to multiple loyalty cards and an incentive to continue supporting their favorite local businesses.
“All they need to do is download the Tyl Rewards app, link their payment card and they can begin collecting points towards earning rewards automatically when they spend. Once logged in, customers can navigate to a dedicated section within the app that will tell the shopper once they’ve earned enough points to redeem a reward.”
Tyl by NatWest is described as a new, innovative payments service that was 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.