World's first faster processing card payment app launched in UK by Reading company

The world’s first card reader to use Faster Processing payments has been launched by Reading based company Faster Processing Limited.

The 'tapeeno' app, which was developed by the UTP Group and Faster Processing Limited, transforms any Android phone into a card reader that can process payments in under an hour. The app launches after two months of UK trials.

Target markets for the app are startup businesses and growing ventures, who will have to pay a one and a half per cent transaction fee for every card payment processed via the app.

Sales Director of the UTP Group Jaime Lowe said: “tapeeno was developed as a quick, convenient and secure card payment solution for small businesses that are just starting out and don’t want to commit to upfront costs or long-term contracts. 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.

“tapeeno’s utilisation of Faster Processing’s technology means there’s the huge advantage of receiving funds far more quickly than other card machines or payment acceptance devices, making it a cost-effective and flexible choice for sole traders and individuals who need to manage cash flow carefully.”

Read more - Beryl bikes secures £2m to fund new manufacturing hub in Poole