Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
iStock 1289309508 - Business Express

UTP, Faster Processing, and phos become industry pioneers by being the first to introduce same day processing for payments accepted on a smartphone


These leading payment providers have partnered to create an application which allows smartphones to accept and process same-day card payments. 

4 May 2022, London, UK: UTP, an award-winning provider of card and other payment solutions, has partnered with leading fintech, phos, to create the latest industry innovation, tapeeno, enabling smartphones to be transformed into a payment device in an easy and convenient way.

This technology is an industry first, with existing solutions only able to process same-day payments if it is onto a specific debit card, typically provided by the solution provider. tapeeno allows quick access to payments to any UK bank account and provides a fast, easy, and convenient alternative to cash payments. 

Customers were at the forefront of tapeeno’s creation. With tapeeno, 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 like. 

To use the service, customers will need to complete a simple online application form with most applications being approved within 24 to 48 hours. 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. 

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

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

The tapeeno app is available now with further details available at www.tapeeno.com.

Michael Ault, CEO of UTP added: “We are delighted to be launching the tapeeno proposition. By launching a product which is tailored to individuals as well as merchants, we are making card acceptance accessible to the widest possible audience. As an alternative to existing peer-to-peer payment solutions and hardware-based card acceptance products, our collaboration with phos has allowed us to bring a unique and exciting solution to the market. 

UTP and Faster Processing have ensured the process of customer sign-up is hassle-free to enable merchants to access the solution as quickly and seamlessly as possible. 

Brad Hyett, CEO of phos added: “We are thrilled to be partnering with UTP on an industry-first solution. At phos, we take pride in developing the best solutions that meet the needs of business today. Merchants are increasingly demanding more efficient and convenient ways to accept payments and we are glad to be bringing them this same day settlement capability, along with collaborators at UTP and Faster Processing. It is indeed a great time to be in the fintech business.”

Recent Post: