SumUp, Mastercard Team Up For Improved Mobile Payments Operations
Payments for small businesses—both making and receiving—can be a challenge, and worse, a challenge that gets in the way of everyday operations. Mobile payments tools like Square and PayPal have done great things for the small business market, and recently, we were tipped off about one more such entrant into the field with a team-up between SumUp and Mastercard, one that will smooth the way for payments in small business markets that much more.
The new measure gives SumUp its own card specifically for business payments, which it built in cooperation with Mastercard. With the new SumUp card, the payments taken at SumUp readers will be accessible much more quickly, with next-day payouts guaranteed. The time of the week doesn’t matter, either, as this rapidity is even guaranteed for weekends as well.
Those who want in on the SumUp card can get in without monthly fees or even initial upfront costs, and whether a business uses chip-and-PIN, online, or contactless card systems, SumUp can accommodate.
SumUp’s founder, Marc-Alexander Christ, noted “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 versatility inherent in such a system should make small business owners plenty happy. It’s a testament to the power of mobile payments systems that so many different waterfronts should be so effectively covered all at once. For those who have SumUp readers in place, it will be especially useful. While it’s not likely to draw a lot of new SumUp users into the fold, it may actually bring in some new ones, especially those who are caught at the right time about to order new equipment.
In the end, it’s all about building a competitive advantage. SumUp may have done just that with this new connection to Mastercard, but only time will tell how much of an advantage it actually produces.