UK-based fintech SumUp has announced launching its own pre-paid card in partnership with Mastercard.
The SumUp Card, which supports online, contactless, and Chip-and-PIN payments, has no upfront cost or monthly fee. It is available immediately in the UK, Italy and France, with plans to extend the service to further territories in the next 12 months. Dubbed “SumUp Card”, the new offering will enable merchants to gain quicker to access funds collected via SumUp as it will no longer require money to be transferred out to a third-party bank account first.
The idea is that the new card can be used for all business payments, in addition to letting SumUp merchants access other benefits, such as guaranteed next-day payouts (including on weekends) and low FX rates. It means SumUp now covers collecting and making payments.
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