UTP Group, which owns card payments processing app tapeeno, has agreed to purchase German firm Wellet’s Spanish customer base for an undisclosed sum.
Tapeeno was founded in 2021 and is aimed at businesses and individuals with a turnover up to £2,500 per month. It claims it reduces funding delays that some businesses experience when taking card payments.
UTP Group said that the acquisition of Wellet, which uses similar technology to tapeeno, will help the app expand its customer base in the region.
UTP Group added that Wellet customers in Spain will be contacted in the coming days with further information about how they will be affected by the switch to tapeeno.
Commenting on the news Michael Ault, chief executive of UTP Group, said: “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. This means customers in Spain will start receiving funds into their accounts within one hour of taking payment, significantly reducing funding delays by days.”
Latest News
-
PwC considers major staff cuts in China amid regulatory scrutiny
-
UK regulators launch inquiry into Big Tech digital wallets
-
Citi taps Barclays for new commercial head
-
Santander launches digital sign language service
-
Anne Boden steps down from Starling board to 'develop AI business'
-
NatWest payments arm partners with JD Wetherspoon
Safeguarding economies: DNFBPs' role in AML and CTF compliance explained
Join FStech editor Jonathan Easton, NICE Actimize's Adam McLaughlin and Graham Mackenzie of the Law Society of Scotland as they look at the role Designated Non-Financial Businesses and Professions (DNFBPs) play in the financial sector, and the challenges they face in complying with anti-money laundering and counter-terrorist financing regulations.
Ransomware and beyond: Enhancing cyber threat awareness in the financial sector
Join FStech editor Jonathan Easton and Proofpoint cybersecurity strategist Matt Cooke as they discuss the findings of the State of the Phish 2023 report, diving into key topics such as awareness of cyber threats, the sophisticated techniques being used by criminals to target the financial sector, and how financial institutions can take a proactive approach to educating both their employees and their customers.
Click here to read the 2023 State of the Phish report from Proofpoint.
Click here to read the 2023 State of the Phish report from Proofpoint.
Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.
Future of Planning, Budgeting, Forecasting, and Reporting
Sage Intacct is excited to present FSN The Modern Finance Forum’s “Future of Planning, Budgeting, Forecasting, and Reporting Global Survey 2022” results. With participation from 450 companies around the globe, the survey results highlight how organisations are developing their core financial processes by 2030.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories