A READING-based rapid payments firm has announced it is buying the Spanish customer base of a German company.
Introduced to Germany and Spain in April 2021, Wellet is a card payment app.
It is now part of the UTP Group and, over the next few weeks it will be integrated into its tapeeno system, an app that uses Faster Processing technology. This sees payments sent to accounts within an hour of being made.
Michael Ault, CEO of UTP Group, said: “The acquisition of Wellet’s Spanish customer portfolio allows us to accelerate our expansion in the region, while bringing the benefits of Faster Processing technology to thousands of customers across the country.
“The alignment of Wellet and tapeeno’s technology and target market made this a natural choice for us.
“The acquisition allows our new Spanish customer base to continue with the convenience of accepting payments on their phone, while benefitting from tapeeno’s Faster Processing technology.”
For more, log on to: https://tapeeno.com/ or find the app on the Google Play Store.
