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Payments fintech Dapio raises $3.4m to bring ‘Tap to Pay’ to UK and Europe

Dapio is bringing frictionless contactless payments to all Android users in the UK and Europe next month.

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Cashless payment solutions provider Dapio is bringing ‘Tap to Pay’ to Android users in the UK and Europe next month.

The company, formerly Paymob, raised $3.4m in growth funding to launch the app on the Google Play store.

The raise was led by Flutterware, alongside Techstars, PactVC and venture partner at Asymmetry Ventures Daniel Gould.

Dapio aims to bring the frictionless payments app to microbusinesses and the millions of sole traders in the UK that make up 75 per cent of all businesses. 

With contactless payments now making up a quarter of all UK payments, Dapio is enabling all Android smartphone users to turn their devices into a payment terminal that can accept contactless payments.

The frictionless solution should alleviate challenges facing microbusinesses and sole traders that would otherwise need to buy card scanning equipment and pay extra fees.

“In a world where we make more transactions than ever, it’s still far too difficult for small businesses to take payments from customers,” Dapio CEO and co-founder Kosta Du said.

“It’s normal for consumers to make payments using their smartphones, so why not allow small businesses to take payments as well?”

Dapio also partners with point of sale vendors, banks and other fintechs and payment platforms who integrate its tech to offer their merchant customers ‘Tap to Pay’ facilities as part of its embedded finance solutions. 

Its current partners include ZmBIZI and Payment Plus.

“[By opening up to Android users across the UK and Europe], we’re helping businesses grow faster, by taking the pain out of complex payment systems so founders can focus on what’s important: improving the customer experience and developing their business,” Du added.

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