How they describe themselves: SumUp’s vision is to change commerce on a global scale starting with a real and existing payments problem. Today, millions of small businesses are missing out on customers because they cannot accept card payments. Traditional card terminals are expensive, with high monthly fees and long contract durations. SumUp offers the easiest way for small businesses and sole traders to accept card payments securely, even on-the-go. Using only a portable card reader and an app for iOS and Android, merchants can accept card payments on their mobile device, with a transparent fee of only 2.75% per transaction.
The company is creating a cashless point-of-sale solution that will radically simplify the way people pay in everyday life.