UTP, phos launch same-day processing for smartphone-based payments

Friday 6 May 2022 12:12 CET | News

UK-based fintech UTP has partnered with phos to roll out ‘tapeeno’, enabling smartphones to be turned into payment devices.

tapeeno allows quick access to payments to any UK bank account and provides an alternative to cash payments. With this solution, merchants can take card payments without the fixed monthly payments that are normally associated with card payment hardware. tapeeno has no set-up fees, no monthly charges, and no binding contract. This allows customers to cancel whenever they want.

Customers will need to complete an online application form, with most applications being approved within 24 to 48 hours to use the service. Once approved, customers can download the tapeeno app from the Google Play Store to start taking contactless card payments. Payments will be processed and funded within one hour.

The software enables transactions to be refunded, voided, and sends e-receipts to the cardholder via email or SMS. tapeeno uses secure software to process payments and is certified to the latest security standard. 

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Keywords: mobile payments, payment processing, merchants, partnership, product launch, contactless payments
Categories: Payments & Commerce
Companies: Phos, UTP
Countries: United Kingdom
This article is part of category

Payments & Commerce




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