Teya, a financial services provider supporting local businesses across Europe, has launched a new payment card machine designed to process transactions quickly and settle funds to merchant accounts without delay.
The device, named Teya Pro, has been introduced in the UK as part of a broader set of products the company describes as aimed at improving transaction speed and merchant cash flow. According to Teya, the majority of sales made through the device are completed in 1.7 seconds, with funds subsequently made available in a merchant's Teya Business Account through the company's Instant Settlement service.
The Teya Pro card machine is built on a quad-core 2GHz Qualcomm chipset with 4GB of memory and runs Android 13, which Teya states allows point-of-sale and payment functions to operate concurrently. The device includes a 6.7-inch touchscreen and a battery rated for more than fourteen hours of continuous use. It supports three connectivity options (4G, Wi-Fi and Ethernet) intended to maintain payment processing during network disruptions.
Onboarding and settlement services
Teya has paired the device with a digital registration process intended to reduce the time between merchant application and account approval. The company states that new merchants can begin accepting payments shortly after completing onboarding.
Settlement options include the Instant Settlement service, through which funds are transferred to a merchant's Teya Business Account shortly after a transaction, alongside a next-day settlement option covering all days of the week, including weekends. Teya has also stated that its support team aims to answer merchant calls within ten seconds.
Context within Teya's product suite
Teya Pro follows the earlier release of an updated Teya Business Account, which added features including spend management automation and cashback on employee spending, accessible through a single application. The company has positioned Teya Pro as an extension of this account, aimed at addressing settlement speed and payment processing reliability for small and medium-sized businesses operating in high-transaction-volume environments, such as hospitality.
A UK-based pub and restaurant that has adopted the device reported handling more than 5,000 covers a month, with higher volumes during summer months. A representative of the business stated that reduced payment processing times had contributed to faster service and improved takings, alongside quicker access to settled funds.
Alessandra Giner, Chief Product Officer at Teya, said the launch reflects the company's focus on payment speed, settlement timing, onboarding simplicity and customer support for local business owners.
The launch is aimed at merchants in sectors where transaction speed and cash flow access are operationally significant, particularly hospitality and other high-footfall retail environments.
