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TeyaC64

Platform & Vertical SaaS · UK and European hospitality and retail businesses with steady card volume who will get a competitive quote …

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Overview

Teya is a serious, well-funded European challenger with a good terminal, next-day settlement with an every-day option and a genuinely useful free business account, and it has the licences and the balance sheet to back the promises. What it will not do is tell you the price. The pricing page says there is no standard rate card, the card-machine page says fees start at 1.59% and rental at £14.99 a month, and the real number comes after a sales call and a look at your statements — which is how the old ISOs did it and is the model Teya's rivals SumUp, Zettle, Square and Dojo have moved away from. Add the 0.10% loading for settling to your own bank, terms that let Teya hold or reserve funds at its discretion, and a one-star tail on Trustpilot about exactly that, and a B is where it lands: the product is better than the incumbents, the pricing model is not.

Best for: UK and European hospitality and retail businesses with steady card volume who will get a competitive quote by showing a recent statement, want next-working-day settlement with the option of weekends, and would use the Teya Business Account, card and cash-advance products rather than treat the terminal as a standalone. Multi-site operators and businesses in Teya's continental markets — Iceland, Portugal, Czechia, Hungary and now Spain and Italy — where the local challenger field is thinner.

Strengths

  • + Next-working-day settlement as standard, an Everyday option that pays out on weekends and bank holidays too, and Instant Settlements in seconds into the Teya Business Account.
  • + A free e-money business account with a cashback debit card, savings pots, expense tools and accounting sync, from an FCA-authorised electronic money institution — most terminal providers offer nothing comparable.
  • + No long-term contract, no setup fee, a lifetime warranty on the terminal and free swaps if it fails.
  • + Well regarded by most customers: 4.4 on Trustpilot from about 1,500 UK reviews, 82% five-star, with praise for the speed of the terminal and the onboarding staff, and replies to 99% of negative reviews.
  • + Scale and backing: more than $500 million raised in 2021 alone from Tiger Global, Ribbit Capital and others, nine European markets, an Icelandic acquirer (Borgun) in the group, and 24/7 human support by phone, WhatsApp and chat.
  • + Fees can be competitive for a business that shows Teya a statement — the model is built around undercutting an existing quote rather than a list price.

Trade-offs

  • – No published rates. The pricing page states there is no standard price list; the only public figure is a starting rate of 1.59% and rental from £14.99 a month, and the real cost is quoted after a sales conversation.
  • – Settling to your own bank instead of the Teya Business Account costs 0.10% more on every transaction — a nudge into the account that a merchant with an existing banking relationship will notice.
  • – The payment terms give Teya wide discretion to hold payouts, keep a reserve with a lien over it, set off debts across group companies and terminate immediately, and 15% of UK Trustpilot reviews are one-star, mostly about money held and calls not returned.
  • – The Business Account is e-money, safeguarded rather than protected by the Financial Services Compensation Scheme, which matters to a business leaving a balance in it.
  • – Available in nine European countries only, and the UK company was still loss-making in 2024 — £19 million turnover against a £64 million pre-tax loss — in a business that is expanding faster than it is earning.
  • – Hardware must be returned within five days of termination or Teya can bill its full cost, and the terms let Teya change fees on whatever notice it considers reasonable unless the law sets a minimum.

Fees in detail

  • Contract: No fixed term

Standard published rate for a domestic online card payment. Confirm current pricing on Teya's pricing page.

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