Six Multipay and Tax Free Worldwide have teamed up to enhance European distribution, as well as bring a major innovation to Tax Free Worldwide’s value added tax (VAT) refund.
Under the terms of the agreement, SIX Multipay will integrate Tax Free Worldwide’s product portfolio into its offering for European merchants and Tax Free Worldwide’s sales activities will integrate SIX Multipay’s acquiring solutions in the future.
As a first benefit for Swiss merchants, SIX Multipay and Tax Free Worldwide have enhanced an evolution in VAT payment solution for eligible tourists. Previously, the only solution available was a paper-based system using forms that had to be filled out manually by both retailers and tourists.
The automated solution will bring a number of improvements for eligible tourists as well as retailers: once the sales amount has been entered, the point-of-sale (POS) terminal automatically prints out a VAT refund form. The system allows tourists to complete their form quicker, thus saving both their own and the sales assistant’s time. The form can be easily customised to fit the customer’s and retailers specific needs as well as incorporate any changes in regulations, which may be required.
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