Tillo’s ‘International Payments’ offers automated application of the most up-to-date FX rates on international gift card transactions resulting in a faster, more cost-effective experience for global gift card buyers
Tillo, the embedded rewards and incentives platform, has announced International Payments, a new and innovative feature of the Tillo Platform and the first of its kind, which eliminates the need for global gift card buyers to maintain separate currency floats.
Unlike other gift card providers, whose currency exchange requires manual involvement and the physical movement of money from multiple currency floats, with International Payments, customers only need one float and can automatically purchase gift cards at the current foreign exchange (FX) rate. This new feature enables buyers to seamlessly execute FX transactions while purchasing gift cards, providing a simple, cost-effective, and efficient international trading experience.
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Gift cards are sold globally, and the need to transact smoothly across borders is more essential than ever. Recognizing the varied needs of global customers, the International Payments feature was created to streamline this process. Key benefits of International Payments include:
- Automation: Unlike other platforms on the market, Tillo’s International Payments removes the need for any manual conversion, as FX rates are applied automatically during the purchase process. This removes the operational hurdles associated with managing multiple international floats.
- Cost-effectiveness: With the International Payments feature, buyers can avoid additional fees from third-party FX platforms. Every 10 minutes, the Tillo Platform automatically retrieves the most recent FX rates, guaranteeing that buyers receive the best deal on their transactions.
- Diversity of Currency: International Payments users can choose to keep their core currency float in either USD or GBP. From there, they can purchase gift cards from other currencies, including EUR, CAD, AUD, DKK, SEK, NOK, CHF, CZK, HUF, PLN and RON. Additional core currency options will be added in the future, including EUR and AUD.
- Time-saving: Customers will save time, as they no longer need to create transfer requests. Instead, only one float on the platform needs to be managed, and extra time can be spent on other important activities.
“With Tillo’s release of the International Payments feature, we are delivering the most efficient method for customers to perform FX transactions when buying gift cards,” said Alex Preece, CEO and co-founder, Tillo. “Our market-leading solution is easy to use and developed with global buyers in mind, making international transactions just as seamless as domestic ones. By removing the operational hurdles associated with managing multiple international floats, this feature will facilitate expansion into new markets.”
Existing customers interested in International Payments should contact their account manager, and those interested in getting started with Tillo can get in touch with a Tillo expert to see the award-winning Gift Card API and Platform, including this new feature, in action.
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