Customers only need to use one float with International Payments, as opposed to other gift card providers who require manual involvement and the physical transfer of funds between multiple currency floats in order to exchange currencies. This allows gift cards to be automatically purchased at the current foreign exchange (FX) rate. With the help of this new feature, customers can now easily complete FX transactions while buying gift cards, making international trading easy, affordable, and productive.
Since gift cards are sold all over the world, it is more important than ever to conduct business smoothly across borders. The International Payments feature was developed in recognition of the diverse needs of customers worldwide, with the aim of optimizing this procedure. Among the main advantages of international payments are:
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."
Tillo is an embedded rewards and incentives platform that drives sustainable growth for businesses by connecting them to digital gift cards from 2,000+ global brands, helping them to unlock innovative and profitable use cases.
Our plug-and-go API provides a seamless connection to the brands people love, making it possible to manage and deliver rewards and incentives with one integration. Tillo is the fastest-growing global gift card network, operating in 37 markets and 16 currencies, and has processed more than $2 billion worth of gift cards to date.
Tillo has offices in Austin, Texas, Brighton, UK, and Sydney, Australia.