The new app, Sumo, is aimed at helping the holidaymakers to plan, save and manage their spending for their travelling when overseas. Initially available in Sweden, the app allows the customer to set up a fee-free multi-currency account, coming with an intelligent contactless debit card.
The app can automatically identify the local currency and allow users to pay, as well as withdraw cash without incurring transaction charges or paying additional fees. Sumo support seven currencies and allows the user to save money in multiple currencies. Furthermore, users can make four fee-free ATM withdrawals at home and overseas per month.
The two companies plan to add new functionalities to the platform over time; the app is expected to be available in the UK and other markets from 2018.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright