New app Tapeeno turns Android phones into card readers
Card machine provider UTP Group and credit card processing system Faster Processing have partnered to launch Tapeeno, an app that turns any Android phone into a card reader.
Tapeeno launches in the UK
As a card reader, the Android phone and app can process transactions within one hour – “significantly reducing” the up to four-day funding delay most businesses experience, the firms claim.
Aimed at sole traders, hobbyists and small businesses, Tapeeno has no contracts or hidden costs, and users are charged a 1.5% transaction fee per card payment.
Tapeeno accepts all contactless payments made by Mastercard and Visa and is currently available to download from the Google Play Store. It is set to be available on Apple phones later this year.
Customers who sign up complete an online application form via the website, provide the required ID documentation with approvals processed “within 24 hours”.
UTP Group sales director Jaime Lowe says Tapeeno’s utilisation of Faster Processing’s technology makes it a “cost-effective and flexible choice for sole traders and individuals who need to manage cash flow carefully”.
“It’s ideal for hobbies, mobile traders or businesses turning over less than £2,500 a month and need a reliable and safe way to process customer payments,” Lowe adds.
