Wellingborough, UK – UK-based retail and online payments solution provider Arivpay has chosen Malta-based acquirer, Truevo to 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. Secondly, the companies will expand their activities to Scotland, Wales, and other parts of the UK.
Arivpay supports brick and mortar businesses with payment solutions, particularly specialising in convenience stores, restaurants and pubs.
“Truevo is a perfect match for Arivpay. We’ve been looking for a new POS solution for merchants in the UK. We also wanted it to provide 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.” – Rajshankar Balasingham, CEO of Arivpay.
Arivpay wanted to differentiate itself from competitors with card machines which represent the latest technology in point-of-sale systems. Many UK stores and restaurants rely on older terminals. Rajshankar Balasingham describes them as, “old, chunky devices connected to phone lines”. Terminals such as these are not ideal for today’s business environment. For example, they cannot process payments while merchants receive a telephone call.
“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. We’re glad alongside Truevo to offer a straightforward statement that any customer can read and understand easily.”
Arivpay recently broke into the e-commerce space and is now servicing travel agencies and e-commerce retail companies. “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. And all while also supporting their newer demand for online payments. We share Arivpay’s mission of taking the burden off of small businesses. We both want to help them finding the best payment solution,” says Jon Barras, Truevo UK & ROI General Manager.
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.
Arivpay services a network of nearly 200,000 small and medium-sized businesses in the United Kingdom and Europe. Founded by a team of industry professionals, their combined 20 years of experience across payments and retail. This gives them a unique insight into the challenges of SME businesses when it comes to payment solutions. The company formed with the understanding that these types of businesses had been underserved by leading payment service providers. Since then, they have been filling the gap.
Truevo is a multinational Fintech company changing the payments industry in the UK and across Europe. They design solutions that encompass the payments value chain to equip customers with a single, service-oriented provider. Whether businesses wish to accept payments online, in-store, in-app or over the phone, Truevo has a solution. Truevo empowers its customers to accept card payments in over 150 currencies. They also can receive settlements in the currency of their choice. For businesses that send payouts, Truevo offers a push payment solution. It allows businesses to send near-instant transfers to over a billion eligible Mastercard and Visa cards across the globe.