Dapio raises USD 3.4 mln to expand 'Tap to Pay' in UK and Europe

Thursday 31 March 2022 10:50 CET | News

UK-based payment solutions provider Dapio has secured a USD 3.4 million investment to launch ‘Tap to Pay’ for Android users in UK and Europe.

Dapio, formerly Paymob, facilitates businesses to accept cashless payments in store, over the phone or on the move, anywhere in the world. Its technology transforms any Android smartphone into a payment terminal able to accept contactless payments.

While Apple has recently announced plans to launch 'Tap to Pay' on iPhone in the US, this excludes the Android users that make up 42% of the US mobile market, 46% in the UK, and 71% globally, according to the press release. The company adds that there are an estimated 3.2 million sole traders in the UK, making up 75% of all businesses.

Dapio gives these underserved businesses access to the same payments infrastructure as larger organisations. It will be launching its first direct-to-customer Android app in the spring of 2022 to allow any business to accept contactless payments with the tap of a card or mobile phone, without the need for new equipment.

The company also partners with POS (Point of Sale) vendors, banks, telcos, and other fintechs and payment platforms who integrate its tech to offer their merchant customers ‘Tap to Pay’ facilities, as part of its embedded finance solutions.

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Keywords: product launch, contactless payments, SoftPOS, Android, SMEs
Categories: Payments & Commerce
Countries: Europe, United Kingdom
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Payments & Commerce

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