A READING firm is behind a new digital payment systems which will provide faster transactions.
Faster Processing Ltd, based in Reading, has launched the Tapeeno app, developed along with the UTP Group, will transform any mobile phone operating on Android into a payment card reader.
The app, which processes payments in under an hour, has undergone two months’ worth of trials in the UK, and has launched on the Google Play Store for Android users.
The app has been designed to help support start-ups and growing business ventures with a 1.5% transaction fee for payments processed through the app.
It is due to launch on Apple platforms later this year.
UTP’s chief executive officer Michael Ault said of the app last year: “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.”
