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UTP release SoftPOS product

Source: UTP

Award-winning payment service provider UTP, one of the largest ISOs in the UK, has launched a SoftPOS product - tapeeno.

It is one of the newest technological innovations in the fintech space that transforms merchant smartphones into payment acceptance devices. tapeeno delivers to the SME segment a much-needed fast settlement solution (to any UK bank account) combined with cost-efficient payment processing that needs no additional hardware and has no monthly fees.

tapeeno is expected to bring in a significant volume of new merchants for UTP, so the success of the product launch was highly reliant on efficient merchant acquisition, management and retention tools. With Paynt, UTP found a highly tech-minded acquiring partner who worked with them hand in hand and provided the required solutions that overcame the traditional obstacles of the payment industry:

● Implementation of automated onboarding flows to deliver simple and fast merchant activation.
● Customised data and settlement APIs to ensure UTP could provide their instant settlement solution.
● Tailored performance reports and BI tools giving valuable insights into day-to-day operations.

“We are very proud of the product we have introduced to the market. A lot of thought and effort went into making sure that we meet the expectations of our customers and together with Paynt developed the product exactly as we needed it.” - Michael Ault, CEO of UTP

Frank Landen, Head of POS at Paynt added: “The launch of tapeeno is an important achievement not only for UTP, but also for us at Paynt. It is a testament to our capabilities as a fintech company and reinforces our strategic vision of becoming the go-to acquirer for European payment service resellers. We also see this project as a perfect launchpad for the wider adoption of SoftPOS as a solution, and Paynt is well-positioned to be at the forefront of it.”

Paynt is a fully integrated global payment solutions and infrastructure provider. Acquiring-as-a-Service is its flagship product, targeted specifically at the reseller segment - Independent Sales Organizations (ISOs), Payment Service Providers (PSPs), Independent Software Vendors (ISVs) and SaaS companies. Paynt offers access to omni-channel payment acceptance capabilities and recently launched its new platform that automates and streamlines functions required to onboard, manage, and retain merchants.

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