UK-based point of payment rating system, truRating, has launched in Australia with a Sydney headquarters, allowing businesses to collect immediate feedback from their customers when they pay.

Using the payment terminal, truRating presents customers with a single feedback question, asking them to rate an aspect of their experience using a scale of 0-9 on the keypad. This gives companies a real time, mass market view of customer satisfaction and overall company performance on key metrics such as service, value or product selection, providing the insight they need to make changes and improvements.

The UK fintech start up has processed more than one million ratings globally to date, averaging 8000 ratings a day.

TruRating CEO and Founder, Georgina Nelson, said the technology will provide a platform for Australian business owners to hear from their customers and gain validated and immediate feedback, which allows them to work smarter by making better informed decisions and identify the changes that will most impact the bottom line.

“Until now, there has been no straightforward system that provides merchants with validated and trusted ratings of their business, in real time. Our vision for truRating Australia is to leverage our new technology to transform the way merchants collect feedback from their customer base to drive greater loyalty and profitability,” said Ms Nelson.

TruRating’s Australian launch follows a six month pilot program with a variety of local merchants. Rolld, the Melbourne Convention and Exhibition Centre, Toni & Guy, Crisp, and Jones the Grocer are among those using the service.