Tymit Blog | Tymit's posts about news

Find out about the launch of our revolutionary, fee-free instalment Visa credit card

Tymit has launched! 🚀

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We're delighted to announce the launch of our revolutionary, fee-free instalment
Visa credit card. Built to provide a rich, mobile app experience, the new card
addresses the lack of transparency and control involved with traditional credit
cards.

The Tymit card allows customers to plan their spending, see the true total cost of any
transaction, and avoid unnecessary interest by spreading the cost of purchases over
3, 6, 12 or 24 months.
 
Interest is only calculated and applied to instalment transactions rather than the whole
balance, saving customers a significant amount of money versus traditional
credit cards. Purchases that are not put on an instalment plan default to be
due in full the next month, with no interest charges or fees. 

Over 53 million merchants worldwide accept Visa, Tymit Visa credit cardholders will
have the option to pay in instalments at point of sale at any of these
locations where Visa is accepted – enhancing the familiar Visa shopping
experience. 

The Tymit app gives customers complete control and transparency over their repayments, so they can plan purchases around their monthly budget. As soon as a transaction
is made, an interest-bearing repayment schedule can be selected and easily
adjusted. Using a built-in calculator function, customers can also simulate
future purchases, gaining a clear understanding of the total interest that
would be due.

The app also provides a wealth of data and features to help customers manage their finances. Real-time spending notifications, automatic purchase categorisation and
reporting, transaction location maps and customer service chat can all be
accessed from within a simple interface. 

Advanced fraud protection is also included in the package: customers can block their card from within the mobile app, while advanced fraud prevention features use signals
such as phone location to determine if your card could have been stolen. 

 **Tymit co-founder and CEO, Martin Magnone, said: **

“Traditional credit cards haven’t really changed in decades. The big banksrely on old technology, and because they’ve had a monopoly for so long, they haven’t given a lot of thought to providing a great user experience. You see this in the usability of their websites and apps, but it goes beyond that. 

“Traditional credit cards offer customers almost no control, and that can be dangerous. It’s
virtually impossible to anticipate the total charges when you make a purchase -
you only find out the real cost months later when you review your statements.
And once you have a balance accruing interest, banks provide almost no help in
planning repayments. 

“The Tymit card and mobile app are different. They’ve been designed from the ground up to fit seamlessly together, providing a fast, intuitive interface that puts you in
control and helps you make better decisions about your spending.”

The Tymit Visa credit card is issued by digital financial technology provider Wirecard and can be used anywhere in the world that accepts Visa. It charges no membership fee
or foreign transaction fees, and is backed by cutting edge fraud prevention
technology, so cardholders can buy with confidence at home, abroad and online.

Click  [here](https://go.onelink.me/app/48c9e7fd) to download the IOS app today.



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You now get 0% APR on any purchase you spread across 3 months.

We've made 3 month instalment plans interest free!

![p2_fees.png](https://cdn.tymit.com/media/p2_fees_23f0129c0a.png)

We're excited to announce that instalment plans of 3 months are now interest free! This means that in addition to any purchase cleared off at the end of the month, you can now spread the cost across 3 equal payments for 0% APR.

You still have the option to extend repayment over 6, 12 or 24 months at your accounts interest rate, with all borrowing costs quoted in pounds. We are the only instalment credit card offering 3 monthly repayments at zero interest, so it's a great excuse to book that summer holiday or replace your outdated smart phone.

Click [here](https://tymit.onelink.me/YGVX/e155219a) to download the app and apply for your account in minutes. 

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We've made 3 month instalment plans interest free! 🎉

 BIG news: we've got a new investor

It’s a big day at Tymit HQ. 😃

We’re excited to announce that a new investor is backing our mission to reinvent the credit card!

## Welcome, VentureFriends 👏
VentureFriends is an early stage VC set up by entrepreneurs. As well as funding 35+ startups to date, they’ve built businesses themselves. So we’ll be able to tap into this experience to help Tymit grow.  And while the exact details of the investment are under wraps for now 🤫, we can say we’re in good company.

The team at VentureFriends have already gotten behind Plum, one of the UK’s leading money management apps, and Belvo, a rising star in banking tech.  We’re chuffed to be added to the VF portfolio alongside two other fintechs making waves. 

Explaining why they chose to back us, VentureFriend’s Co-founder, George Dimopoulos, said: “Tymit brings a new kind of transparency to the industry and empowers users by giving them control over their repayment plan. This ground-breaking flexibility is why we’re Tymit users ourselves and so excited to join them on their journey.”

## Tymit is taking off 🚀
VentureFriends coming on board tops off a string of wins for team Tymit. 🏆

- We’ve **doubled the number of Tymit users** over the past two months, giving thousands more customers the power to plan the way they pay with our super flexible credit card. 
- **Loan balances have doubled too.** Spending is up because more of our customers are feeling the benefit of instalment-based credit that puts them in control. We’re sure charging zero fees also helps. 😉
- And we’ve started prepping for our next phase of growth by **extending our debt lines by £10m,** ready to cover another jump in customer spending. 

But we’re just getting started, and the new investment will really help us kick things into high gear. 

Our CEO, Martin, had this to say: “Having VentureFriends on board will give our mission to reinvent credit a shot in the arm. With their support, we’ll be able to drive growth, reach more customers and show there’s a better alternative to the outdated, unfair credit cards consumers are stuck with today.”

## Staying focused on the mission 🎯

A new backer is big news for any startup. But for team Tymit it all comes back to the mission. 

There are 33m credit card holders in the UK today, and 12m of them are either stuck on a revolving balance or just about managing to make their monthly payments – with no clear way out of debt. 

Hidden fees and interest piled on top of interest make it even harder. It’s no surprise the national credit card debt mountain is almost £60bn. 

This can’t go on. And it won’t, if we have our way. We’re tackling the lack of transparency and control of outdated credit cards head on. 

And with VentureFriend’s support, we can give more people access to credit that is flexible, safe and honest. ✌️


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We have BIG news: we've got a new investor 🎉

We won a grant from Innovate UK

Good news from Team Tymit 😀

We've won a grant from Innovate UK! 

It's a real stamp of approval 💯 for our mission to make credit more flexible and transparent. 

But it's also an opportunity for us to play our part in the post-Covid recovery. 💪

And do a little something for the planet at the same time.

Read all about what it means below.


## Sustainable innovation 💡
Innovate UK is part of UK Research and Innovation.  Through its Sustainable Innovation Fund, it’s investing £191 million over the next two years. 

The aim is to help rebuild all sectors of the UK after the effects of Covid-19 by supporting innovative research and development projects.

Thousands of organisations and businesses applied.  And we’re proud to say we’ve won a grant of £175,000. 🏆

Here’s how we’re going to use it. 


## Supporting smarter spending 💳

The UK economy has taken a big hit over the past few months. 

And the upshot is a lot of people aren’t feeling as confident about spending, even if it’s on something they really need. 

But whether it’s replacing broken white goods or getting your boiler fixed, there’s some stuff that just can’t wait. ⏱️

So there’s a need for flexible, transparent credit that people feel they can control.  Credit that gives them a clear plan to pay it back, with upfront costs and no surprises. 

Tymit’s instalments give consumers complete transparency 🔍 from the start. And this kind of control creates confidence. 

Even better, we offer our instalments anywhere Visa is accepted, meaning Tymit users can pay for essential repairs or home appliances knowing exactly what it’ll cost them and when they’ll have paid it off. 👌

When you give people these kinds of spending options, managing their finances becomes so much easier. And that can help take the pressure off at a difficult time. 


## Making Tymit greener 🌱

We’re also using the grant to become more environmentally sustainable. 

That means we’ll be trying to go 100% paperless 🌳, and we’ll be looking into more eco-friendly card designs. 

Tymit users will be hearing more updates on all of this soon. 


## Eyes on the prize 👀
We’re so grateful for the support from Innovate UK. 🙏

Their backing is another sign we're on the right track.

But we’re keeping our eyes on the real prize and staying focused on our mission. 🚀

To make credit more flexible, safe and honest, for better financial health and peace of mind. 


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We won a grant from Innovate UK 🏆

Tymit has been recognised as one of the UK's leading scaleups and is joining Tech Nation's Fintech 4.0 cohort. 

Tymit is one of the UK's leading fintech scaleups

We’ve got exciting news – Tymit’s been recognised as one of the UK’s leading scaleups! 🚀

## Joining Fintech 4.0

An all-star panel of judges has chosen us for Tech Nation’s latest fintech programme. Competition was stiff this year, so we're really proud to have made it. 

Tech Nation is a network for ambitious tech entrepreneurs and its mission is to fuel growth. [Fintech 4.0](https://technation.io/programmes/fintech/), which officially launches today, brings together 30 of the best in UK fintech and aims to support them as they scale.

Our CEO, Martin, had this to say:

*"Joining Fintech 4.0 is a huge opportunity for Tymit. We’re growing fast and aiming big, so we’ll be tapping into Tech Nation’s network as we get ready to scale. Being able to learn directly from founders who’ve been there before will be incredibly valuable. We’re proud to be chosen and can’t wait to get started."*

This announcement comes soon after another big win for Team Tymit, having just picked up Innovation of the Year at the [Consumer Credit Awards](https://www.consumercreditawards.co.uk/previous-winners/).

Stay tuned for updates on our journey with Tech Nation. 


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Ready, set, scale: We're part of Fintech 4.0  🚀

The Tymit iOS team attended the tenth edition of NSSpain, one of the most well-known iOS/macOS-related events in the world.

NSSpain 2022 Review

Two weeks ago, the Tymit iOS team had the opportunity to assist in the tenth edition of the [NSSpain](https://2022.nsspain.com/index.html). One of the most known iOS/macOS-related events in the world. Each edition, the organization bring speakers from all the continents who deliver top-flight talks.

After two remote editions, this edition allowed us to engage again with the iOS community. Because the event is not only about the technical side, also it is about the community. This event brings us the opportunity to meet software creators and crafters around the world. 

After seeing the schedule, the team went crazy. Few talks focused on the actual Tymit app architecture, The Composable Architecture or TCA. Furthermore, Brandon Williams (one of the creators of TCA) was one of the main speakers. We felt it would be a special edition, and we were not wrong.

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One more thing: NSSpain is located in Logroño (north of Spain) and is known for wine (Rioja) and food. Also, the event matches the beginning of the regional holidays (San Mateo). So, after finishing the event, the party starts. We know it is not an important part, but it is essential. 

Let me share with you the highlights of each day.
 
#### **NSSpain 2022, Day 1**
The day started well. First talk: [Composable Architecture](https://vimeo.com/showcase/9831667/video/751173570) at Scale by [Krzysztof Zabłocki](https://twitter.com/merowing_). It wasn’t an easy talk. Because one of the TCA creators was sitting in the first row, you can check out the talk here.

The talk [Celebrating App Icon Design](https://vimeo.com/showcase/9831667/video/751182671) was impressive. [Michael Flarup](https://twitter.com/flarup) made a master class about design and icons in our apps, why they are essential, and how to improve their impact on our users. Amazing speaker. Check out the talk [here](https://vimeo.com/showcase/9831667/video/751182671).

The first Spanish company on stage was Wallapop. [Jessica Hernández Velarde](https://trysplit.atlassian.net/wiki/spaces/TECH/pages/2499281033/NSSpain+2022+Review#) showed us how they use metrics during the development and release process: [Improving the iOS development process guided by technical metrics](https://vimeo.com/showcase/9831667/video/751286701). We get valuable learnings to apply and discuss with our Platform teammates.

[Johannes Fahrenkrug](https://twitter.com/jfahrenkrug) gave an outstanding talk about how to be bad in a good way, [Living dangerously: The why and how of safely using private APIs on iOS](https://vimeo.com/showcase/9831667/video/751288471). Private APIs could help you get the solution, but you should do it carefully.

Great talk from another Spanish, [Pedro Gómez](https://twitter.com/pedro_g_s), from GoodNotes, to talk about [Swift WebAssembly + GoodNotes, a cross-platform story!](https://vimeo.com/showcase/9831667/video/751290710) How to use Swift for other purposes rather than mobile is always interesting.

And we finished the day with day [Server-Driven UI, from macOS to iOS](https://vimeo.com/showcase/9831667/video/751540434). [Marci Krzyzanowski](https://twitter.com/krzyzanowskim) from Judo app presented how it is possible to have remote Swift code in a server and update it without passing the App Store. Crazy! Server side on Swift can also be written using [Vapor](https://vapor.codes/) and Docker, which may allow us to execute tests differently as we do nowadays or populate Apps with it.

#### **NSSpain 2022, Day 2**
The second day started intensely. [Matias Villaverde](https://trysplit.atlassian.net/wiki/spaces/TECH/pages/2499281033/NSSpain+2022+Review#) and [Rens Breur](https://trysplit.atlassian.net/wiki/spaces/TECH/pages/2499281033/NSSpain+2022+Review#) from Soundcloud showed us how they are [Rewriting SoundCloud in SwiftUI](https://vimeo.com/showcase/9831667/video/751534042). It was interesting to see the way big companies execute the migration to the new UI paradigm.

And we continued with a talk about history: [CocoaPods, ten years of maintenance, and what I would do differently](https://vimeo.com/showcase/9831667/video/751539521). [Orta Therox](https://github.com/orta) is an open-source engineer who builds and maintains one of the most successful dependency managers in the iOS ecosystem. Is it possible to run [cocoapods in Docker](https://cocoapods.org/pods/Docker) to manage the dependencies so it would be an interesting way of providing this part as it can integrate seamlessly with our CI/CD.

Out of the technical talks, [Rob Napier](https://twitter.com/cocoaphony) gave an inspiring talk about mentoring the next generation: [Kids Today](https://vimeo.com/showcase/9831667/video/751566672)! 

Animation, animation and more animations with [Adam Bell](https://twitter.com/b3ll) (Netflix). [Crafting Responsive and Playful Interfaces](https://vimeo.com/showcase/9831667/video/751571352) is an enlightenment talk about how animation can improve the user experience. He explained how to improve your animations using the Motion framework (UIKit). The talk included an impressive demo.

[JP Simard](https://twitter.com/simjp) from Lyft presented the [Lessons from Mobile Networking at Scale](https://vimeo.com/showcase/9831667/video/751575150). A dive into the [Envoy Mobile](https://github.com/envoyproxy/envoy-mobile) project, a powerful open source networking library which provides a ubiquitous API and abstraction for mobile application networking. Also, it offers unparalleled networking functionality and observability to modern distributed applications and API design. Using [GRPC](https://grpc.io/), latencies are working on streams of real-time; this can be extremely useful for some app functionalities, like showing information in real-time.

They left the best for the last talk. [Brandon Williams](https://twitter.com/mbrandonw) from Point-Free was talking about [URL Routing with NavigationStack](https://vimeo.com/showcase/9831667/video/751580644). He is one of the TCA creators, our architecture approach for all the apps we develop in Tymit. Furthermore, he talked about a subject we are deeply interested in, navigation. It was a win-win.


#### **Conclusions**
As I mentioned before, this edition was terrific. The opportunity to gather the whole team around an event and a community and present the Tymit brand is remarkable. After the talks, we get the security that we are on the right path. We decided two years ago to bet on an idea: the unidirectional data flow, and we are so happy with the outcome.

As a full-remote company, spending two days with teammates sharing knowledge and having fun is the best team building of the year. The team returns with new ideas and inspiration, and the bindings are stronger with the feeling of belonging to the best tech community.

Next year, we will come back and try to be on the stage.

[Official Web Site](https://2022.nsspain.com/)
[Official Vimeo Channel](https://vimeo.com/showcase/9831667)

All posts about #news

Tymit has launched! 🚀

We've made 3 month instalment plans interest free! 🎉

We have BIG news: we've got a new investor 🎉

We won a grant from Innovate UK 🏆

Ready, set, scale: We're part of Fintech 4.0 🚀

Tymit at NSSpain 2022