Teya card machines have revolutionized payment processing for small and medium-sized businesses across the UK. As one of the fastest-growing card machine companies in the EU since launching in 2019, Teya offers comprehensive payment solutions that go beyond standard transaction processing.
When we look at what makes Teya stand out, the next working day settlements immediately catch attention. This feature significantly improves cash flow for businesses that can’t afford to wait for their funds. Additionally, the company provides card machines, tap-to-pay technology, and integrated business banking services, all designed specifically to help merchants accept payments efficiently. Furthermore, businesses can apply in minutes and potentially access from £1,000 to £1.5 million of funding within 24 hours, which is particularly valuable for growing enterprises.
In this article, we’ll explore what Teya is, how their payment solutions work, their pricing structure, and the payment processing flow. We’ll also discuss why their current half-price card machine offer (just £89, down from £179) might be worth considering for your business needs.
What is Teya and who is it for?
Initially a fintech newcomer, Teya has quickly established itself as a prominent player in the payment processing industry. Let me explain what Teya is and who benefits most from their services.
Teya’s background and rebranding from SaltPay
Teya wasn’t always known by this name. The company began operations in 2019 as SaltPay before undergoing a complete rebrand in 2023. This transformation wasn’t merely cosmetic—it marked a strategic pivot to become a one-stop solution provider rather than just a payment processor.
The rebranding signaled Teya’s expanded vision to create a unified platform for payments, business management, and growth tools, which naturally includes hardware like teya card machines. Prior to this change, SaltPay had already secured impressive financial backing, raising $700 million in May 2021, which undoubtedly fueled their ambitious evolution into Teya.
Target audience: small and medium businesses
Teya’s services are designed specifically for small and medium-sized businesses across the UK and Europe. The company has carved out a niche by focusing on local enterprises such as corner shops, hairdressers, cafés, and independent retail stores.
Unlike many financial service providers, Teya positions itself as a “financial ally” for these smaller operations. Their approach centers on providing not just technology but genuine partnership to businesses that might otherwise struggle to access comprehensive financial tools.
It’s worth noting that Teya isn’t suitable for all business types. The company doesn’t currently serve charities or businesses categorized as high-risk. Moreover, while extremely beneficial for physical retail and service establishments, Teya isn’t primarily designed for online-first companies.
Teya’s regulatory status and compliance
In terms of regulation, Teya operates with proper authorization. Teya Solutions Ltd. is authorized by the Financial Conduct Authority under the E-Money Regulations 2011 with reference number 978181. This authorization covers both the provision of payment services and the issuing of electronic money.
The company places significant emphasis on compliance, working closely with regulatory bodies to maintain transparent and lawful operations. This regulatory foundation provides reassurance to businesses relying on Teya for their financial services needs.
Teya payment solutions explained
Teya’s comprehensive payment ecosystem offers multiple ways for businesses to accept payments. Let’s examine how these solutions work and what makes them valuable for merchants of all sizes.
Card machines and tap-to-pay options
The foundation of Teya’s payment solutions is the PAX A920Pro terminal – a portable Android-based card machine designed for small businesses. This device features a touchscreen interface with built-in receipt printing capabilities and connects via WiFi and 4G. The battery lasts approximately 10-12 hours from a full charge, making it ideal for businesses with long trading hours.
Alternatively, Teya offers innovative tap-to-pay solutions that transform smartphones into payment terminals:
- Tap-to-Pay on Android: Compatible with Android 12+ devices, this feature allows businesses to accept contactless payments directly on their phones without additional hardware.
- Tap-to-Pay on iPhone: Available on iPhone Xs or later running iOS 17.7.1+, this option accepts all types of contactless payments including physical cards and digital wallets.
Payment links and remote transactions
For businesses needing remote payment options, Teya’s Pay by Link functionality enables merchants to send secure payment links via email or SMS. Customers can complete transactions anytime, anywhere using their preferred payment method. Standard expiry times are either 30 minutes or 24 hours, though merchants can customize expiry dates when creating links through the Teya App or Business Portal.
Notably, these payment links carry the same transaction fee as in-person payments, making them a cost-effective solution for remote sales.
POS integrations and mobile app features
Teya supports two primary integration models with point-of-sale systems:
- Cloud Communication: Connects separate terminals and tills via the internet, ideal for businesses with standalone equipment.
- App-to-App Integration: Allows partner ePOS applications to install directly on Teya terminals, creating a unified device experience.
The Teya mobile app serves as a central hub for managing payments, generating reports, and accessing additional features like payment links. Merchants can monitor transactions in real-time and access comprehensive sales data through both the app and web portal.
Teya’s pricing and fees
Pricing structure often determines whether a payment solution works for your business in the long run. Teya offers transparent pricing models tailored to different business needs and transaction volumes.
Blended vs IC++ pricing models
Teya provides two distinct pricing approaches for businesses to choose from. The blended rate model offers simplicity with a flat fee regardless of card type—typically around 1.65% per transaction. This straightforward approach makes budgeting predictable for businesses with consistent sales patterns.
In contrast, the IC++ (Interchange Plus Plus) model separates costs into three components: the interchange fee (paid to the card-issuing bank), the scheme fee (paid to Visa/Mastercard), and Teya’s markup. Although more complex to understand, IC++ often results in lower overall costs for businesses with higher transaction volumes or those processing primarily consumer debit cards.
Monthly plans and Pay Once options
Depending on your business requirements, Teya offers flexible payment structures. Their monthly rental plan starts at approximately £10 per month with an 18-month minimum contract term. This option includes ongoing technical support and warranty coverage throughout the contract period.
Alternatively, the Pay Once option allows merchants to purchase card machines outright for a one-time fee of around £179 (currently discounted to £89 in their promotional offer). This option eliminates recurring monthly payments but may require separate maintenance fees after the initial warranty period expires.
No hidden fees: PCI, chargebacks, refunds
One of Teya’s most appealing features is their commitment to transparent pricing. Unlike many competitors, they don’t charge extra for:
- PCI DSS compliance and security measures
- Chargeback handling and dispute resolution
- Processing customer refunds and returns
This no-surprise approach means the rates quoted during signup remain consistent throughout your relationship with the company. First-time merchants especially appreciate knowing exactly what costs to expect without discovering additional fees buried in monthly statements or contract fine print.
How Teya processes and settles payments
Understanding how payments move from your customers’ cards to your business account is crucial for managing cash flow. I’ll explain exactly how Teya handles this vital process.
Transaction flow: authorization to settlement
Teya’s payment cycle consists of three distinct phases. First, authorization occurs when a customer presents their card, allowing Teya to verify card details and check available funds instantly. Second, the settlement phase begins after approval, transferring funds from the customer’s account to your designated account. Finally, the reporting stage generates automatic documentation summarizing transactions, fees deducted, and settlement amounts.
Next-day settlement and payout schedule
Teya settles sales the next working day—fast and straightforward. You can choose from several settlement options: Business Day Settlement (Monday-Friday, between 8AM-5PM), Daily Settlement (including weekends and holidays), or Instant Settlement (available exclusively with Teya Business Account).
Settlement payments typically arrive between 8am and 5pm, depending on your bank’s processing schedule. To receive settlements, transactions must reach a minimum balance of £15. If you experience delays, you can check the status through the Teya app.
Teya Business Account and debit card integration
The Teya Business Account combines settlement receiving with spending capabilities, effectively serving as both a wallet and payment solution. This account offers remarkable advantages, including Instant Settlement that gives you real-time access to funds the moment you make a sale.
The account comes with a Visa Platinum Business Debit Card, free direct debits, and instant money transfers. Additionally, you can create up to 10 free virtual cards simultaneously and enjoy 30 free ATM withdrawals monthly. Indeed, all funds held in your Business Account are properly safeguarded according to regulatory obligations.
Conclusion
Teya stands out as a comprehensive payment solution specifically designed for small and medium-sized businesses that need efficient, reliable payment processing. Throughout this article, we’ve seen how Teya transformed from SaltPay into a one-stop financial ally that goes beyond basic payment processing. Their next-day settlement feature certainly addresses a critical cash flow challenge many small businesses face.
Additionally, the range of payment options—from the PAX A920Pro terminal to smartphone tap-to-pay solutions and remote payment links—provides flexibility for different business models. Teya’s transparent pricing structure likewise eliminates surprises, while their Business Account with instant settlement further streamlines financial operations for merchants.
Small business owners should consider whether Teya aligns with their specific needs. The current promotional offer of £89 for a card machine (reduced from £179) makes this an opportune time to explore their services. Remember that Teya might not suit every business type, particularly charities or high-risk categories.
The company has clearly positioned itself as more than just a payment processor. Their integrated approach combines transactions, business management tools, and growth solutions under one platform. This unified system ultimately helps small enterprises focus less on payment logistics and more on what truly matters—running and growing their business.
