Developed by card machine specialists UTP Group and the credit card processing system Faster Processing, the tapeeno app instantly transforms any Android phone into a card reader that can process transactions within one hour - significantly reducing the funding delay most businesses experience when taking payments on other card machines or payment acceptance devices.

Successfully trialled in the UK for two months, tapeeno offers customers a quick, easy and flexible card payment solution without the need for investing upfront in additional hardware or committing to long-term contracts.

With no fixed costs or hidden charges, customers who are approved by tapeeno will pay a 1.50% transaction fee for any card payments, making it ideal for start-up businesses, growing ventures and transferring money between friends.

Jaime Lowe, Sales Director of UTP Group, 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.”

Customers who sign up to tapeeno will need to complete an online application form via the tapeeno website, provide the required ID, and download the tapeeno app to their phone. Approvals are processed within 24 hours.

tapeeno accepts all contactless payments made by Mastercard and Visa and is currently available to download from the Google Play Store on Android phones. tapeeno will be available to use on Apple phones later this year.

More information about tapeeno and how to apply can be found on its website https://tapeeno.com/ or by visiting the Google Play Store.