Covid-19 Impact on Banks, And fixes. The Black Swan Opportunity

Download Now

The Black Swan Opportunity |Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

IBS Journal: The iconic monthly FinTech magazine

April 2020 issue out now! Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

SumUp launches card for business payments with Mastercard

UK FinTech SumUp has partnered with Mastercard and has announced the launch of its card for business payments. The newly released card is expected to enable merchants to access their funds and monitor their finances for facilitating business payments’ management.

Marc-Alexander Christ, Co-Founder of SumUp, commented, “This is a small card, for big ideas. Since launching our first reader, we have been dedicated to empowering merchants so they can focus on making their business as successful as possible. We had this in mind when we designed our latest product, with the SumUp Card being a smart solution so we can continue being the driving force behind small businesses across the globe.”

The supplier states that the SumUp Card will facilitate both ends of a transaction and aims to provide a complete toolkit for UK’s small business owners. The new addition to the product suite will allow payments taken by merchants via SumUp readers to flow directly to their SumUp Card and will also guarantee next-day payouts, provide smaller merchants with vital access to funds and allow all purchases and balance to be monitored through the SumUp App. The card will be available to SumUp merchants with no upfront cost, monthly fee or overseas payments and will be available online, contactless, Chip-and-PIN payments, etc.

Jason Lane, Executive Vice President Market Development Europe at Mastercard, commented, “We are delighted to be building on our partnership with SumUp with the launch of a business card. This extended partnership brings more innovation to micro, small and medium-sized businesses offering a convenient way for them to pay and be paid using the simple, speedy and secure payment experience they’ve come to expect from Mastercard anywhere in the world.”

Recently, Berlin-based FinTech Penta has announced a partnership with SumUp in a bid to accelerate its move into the traditional midcap sector.

Related Posts