UK fintech startup truRating launches point-of-payment rating system in Australia
Following a six month pilot program, UK point-of-payment rating system truRating has today officially launched in Australia to provide local businesses with a cost effective way to collect instantaneous customer feedback. The technology gives merchants a platform through which they can gain validated feedback, allowing them to identify changes that will most impact their bottom line.
“Our vision for Australia is to leverage our new technology to transform the way merchants collect feedback from their customer base to drive greater loyalty and profitability,” Georgina Nelson, CEO of truRating.
The UK fintech startup presents customers with a single feedback question through a payment terminal. The system asks a single question and prompts the customer to rate an aspect of shopper experience using a scale of 0-9 on the terminal keypad. Questions cover a variety of customer experience areas including, service, product, value, recommend and experience.
The system works using a business’s existing EFTPOS machine, with the rating question asked at the point of sale, before finalising payment. To overcome the donkey vote, where customers press any key to move to the payment option, the system provides a skip button for those who are disinterested. However truRating stated that the disinterest is low, with an average of 88 percent of customers providing quality feedback.
Over 60,000 ratings have been collected in Australia within the last six months, with 10 staff already established in cities around the country. To date 1.3 million rating have been collected worldwide, giving companies a real-time, mass-market view of a customer satisfaction and overall company performance on key metrics.
truRating works as a monthly subscription fee of AUD$25 per month, driving data as a massive selling point for even the not so tech savvy businesses. Given our marketplace is filled with successful review sites like TripAdvisor and Yelp, the success of truRating will rely on its simplicity and instantaneous feedback, allowing merchants to react and respond in real-time to negative or positive situations. This type of immediate data is powerful and allows managers to gauge the atmosphere and work ethics of their staff while being out of store. Managers can access the system through an online dashboard to track customer opinion throughout the working day.
Executive chairman of National Online Retailers Association (NORA) Paul Greenberg believes that a simple method of customer feedback is what has been missing from the Australian market.
“It’s great to see that Australia’s startup economy is beginning to attract world class entrants from leading fintech industries such as the UK. truRating is a welcome addition to our market. Its technology has the potential to give Australian consumers a real voice and transform the way merchants engage with customers,” said Greenberg.
truRating has secured partnerships with the Commonwealth Bank ( and PC-EFTPOS to introduce the first iteration of its technology to Australia.
Claire Roberts, executive general manager of local business banking at CBA, said, “We have long believed data can bring great insights and increasingly businesses of all sizes can access and analyse information to improve their operations. Adding truRating to our world-leading Albert EFTPOS tablet and our traditional payments terminal fleets is a great example of this. Its innovative point-of-payment feedback will allow our one million business customers to not only tap into data surrounding the in-store experiences of their customers, but also help them to make better experiences of their customers, but also help them make better informed business decisions.”
Image: Georgina Nelson. Source: Supplied